Business Loan
Sales Assessment Results by Steven Edisis
46
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let's cut to the chase: your performance on CloserIQTest.com has room for serious improvement. Averaging a score of 4.6 is a wake-up call, not a badge of honor. You’ve shown some glimpses of potential, especially when you positioned the loan as an investment rather than an expense. That’s a solid start, but you need to build on that foundation. Your strongest sales technique seems to be the attempt at consultative selling, but you often fall short of fully engaging with your prospects' concerns. Acknowledging their feelings and validating their hesitation is crucial, yet something you frequently overlook. Instead of jumping into your pitch, take the time to listen and ask deeper questions about their specific situations.
You consistently miss opportunities to create a compelling dialogue. This pattern stalls your ability to build trust. Instead of simply stating facts or benefits, try integrating more storytelling and real-life examples to resonate with your prospects. Your communication should be professional and structured, steering away from casual language that diminishes your credibility.
Focus on honing your skills in SPIN Selling and Consultative Selling. These techniques will help you structure your conversations to uncover deeper needs and foster collaboration. Start practicing how to ask Situation and Problem questions more effectively to guide the dialogue.
Remember, sales is not just about pushing a product; it’s about understanding and solving problems. The next time you’re in a conversation, ask yourself: 'How can I make this about them, not just me?' This mindset shift could be the game-changer you need.
Question Breakdown
1.
2
/ 10Question:
"I'm worried about how the monthly payments will affect my cash flow."
Answer:
I couldn’t ageee with you more. What you’ll like working with myself and Dynamic Capital is our ability to customize programs that will never negatively effect your cashflow
Feedback:
Your response lacks clarity and structure. You could have started by acknowledging the prospect's concerns more effectively, then provided specific examples of how your customized programs will help manage cash flow. Avoid informal language like 'you’ll like' and focus on delivering a more professional tone. The message should include a direct exploration of the client's cash flow situation and possibly a question to encourage further discussion.
2.
5
/ 10Question:
"Can you explain how this loan will fit into my overall budget without straining my finances?"
Answer:
Great Question, before we offer you a dollar we will analyze your daily and weekly cashflow and determine what your payment will be and still allow you to operate smoothly
Feedback:
You provided a reasonable response by mentioning the analysis of cash flow, which is crucial in addressing the prospect's concern. However, your answer could benefit from more clarity and professionalism. Instead of saying 'before we offer you a dollar,' try to reassure the prospect that understanding their budget is a priority. Consider elaborating on how this analysis will specifically help them visualize the fit of the loan in their overall budget. Using a more structured approach would enhance your communication. Additionally, asking a follow-up question to engage the prospect further could promote a collaborative discussion.
3.
3
/ 10Question:
"I need to focus on my current projects; taking on additional debt feels like a distraction right now."
Answer:
When we first spoke you mention awe that if you had this 50,000 it will slow you to buy additional inventory that had a 350% markup. Is that still the case?
Feedback:
Your response attempts to pivot back to the original benefits of the loan, but it misses the mark in addressing the prospect's immediate concern about distraction and taking on debt. Instead of referencing previous discussions, you should acknowledge the prospect's hesitation and validate their need to focus on current projects. Consider exploring how the loan could actually enhance their current operations or streamline processes, rather than distract from them. Asking clarifying questions about their current projects could also show your engagement and help tailor your response to their specific situation.
4.
4
/ 10Question:
"How will this loan impact my business operations during implementation?"
Answer:
That’s the best thing about working with Dynamic Capital, it’s our seamless process. All you have to do is provide me with a simple one page application and 5 months of business bank statements and I’ll do all the heavy lifting in the backend.
Feedback:
Your response highlights the ease of the application process, which is a positive aspect. However, it fails to directly address the prospect's concern about how the loan will specifically impact their business operations during implementation. You could improve this by explaining what implementation looks like, any potential disruptions, or how the loan can support their operational goals. Consider following up with questions about their specific operational concerns to foster a more collaborative discussion.
5.
5
/ 10Question:
"I'm concerned about making a commitment when there's so much uncertainty in the market right now."
Answer:
Actually the timing couldn’t be better. With uncertainty comes opportunity. You mentioned that having this working capital would significantly increase your bottom line. What’s your main concern about the current market conditions?
Feedback:
Your response attempts to reframe the uncertainty as an opportunity, which can be effective. However, it could be improved by first acknowledging the prospect's feelings about the uncertainty instead of jumping straight into a rebuttal. Validating their concerns is crucial in building rapport. Additionally, while you did reference the potential benefits of having working capital, consider providing more specific examples of how others have succeeded in similar situations. Finally, your question is a good way to engage the prospect, but it should be preceded by a clearer connection to their concerns.
6.
5
/ 10Question:
"This sounds good, but what if my business doesn't grow as expected?"
Answer:
Even if your business remains exactly where it is, this payment will not effect your cashflow and you will the much needed equipment you requested.
Feedback:
Your response attempts to reassure the prospect by stating that the loan payment won't affect their cash flow, which is a valid point. However, it lacks a deeper exploration of their concern regarding business growth. Instead of primarily focusing on cash flow, address the implications of their growth concerns directly. You could explore ways the loan could help facilitate growth or mitigate risks through strategic investments. Additionally, correct the typo "you will the much needed equipment" to maintain professionalism. A follow-up question about their growth projections or plans could also enhance engagement and demonstrate active listening.
7.
6
/ 10Question:
"I'm not sure if I can justify this expense to my partners right now."
Answer:
If the money we provide is not actually an expense, it’s an investment into the future success of your business. I’m
Sure your partners will rally around your decision. What time can we get the group
On the line and I can walk them through the details?
Feedback:
Your response effectively positions the loan as an investment rather than an expense, which is a good approach to framing the conversation positively. However, it lacks an initial acknowledgment of the prospect's concern about justifying the expense to their partners. It would be more effective to validate their hesitation and explore their partners' specific concerns. Additionally, asking open-ended questions about what their partners might need to hear or see to feel comfortable could demonstrate curiosity and active listening. The closing question is proactive, but ensure it feels collaborative rather than rushed. Overall, incorporate a more consultative tone by addressing their partners' perspectives directly.
8.
4
/ 10Question:
"Is this loan really the best option, or should I be considering other alternatives?"
Answer:
Another great question. At Dynamic Capital we offer a computer catalogue of products to serve our merchants needs and based on your credit profile and use of proceeds this is the ideal product.
Feedback:
Your response recognizes the prospect's question but fails to directly address their concern about whether this loan is the best option or if there are alternatives worth considering. Instead of simply stating that your product is ideal based on their profile, you should explore their specific needs and preferences for loan options. By asking questions to uncover what alternatives they are considering or what their priorities are, you could better position your loan in comparison to other options. A more consultative and collaborative approach would enhance engagement and demonstrate an understanding of their situation.
9.
6
/ 10Question:
"What happens if I encounter issues during the application process?"
Answer:
As a matter of fact I’m going to provide you with concierge service and I will personally walk you through the application process.
Feedback:
Your response offers a positive assurance by mentioning the concierge service and personal assistance, which can alleviate the prospect's concerns. However, it lacks depth in addressing potential issues they might face during the application process. Consider elaborating on specific challenges that could arise and how you would proactively assist them in overcoming these hurdles. Additionally, asking questions about any particular concerns they have regarding the application process could demonstrate active listening and foster a more collaborative dialogue.
10.
6
/ 10Question:
"I’ve had bad experiences with loans in the past; can you assure me this will be different?"
Answer:
I’m sorry to hear you’ve had a bad experience, yet not surprised. Many of my first time clients stated they had issues in the past. Over the last decade we’ve helped thousand of small business owners and we maintain A plus rating with the BBB and Gold Standard with Dun and Bradstreet. Allow me provide that A+ service to you.
Feedback:
Your response begins on a compassionate note, acknowledging the prospect's past issues, which is good for rapport-building. However, it could be enhanced by exploring the specific nature of their past experiences to better understand their concerns. While you mention the positive ratings from the BBB and Dun and Bradstreet, this could come across as generic assurance rather than addressing their individual fears. Consider sharing specific examples of how you’ve supported clients in similar situations to build trust. Additionally, a follow-up question asking what specific assurances they need from you could demonstrate your commitment to addressing their concerns directly and collaboratively.