Module 6: Business Development Skills<br />Module 6                         Business Development Skills<br />	6.1…...……….C...
6.1<br />Client Discovery - Needs Analysis<br />5<br />1<br />Rating Your Prospect<br />HOT<br />COLD<br />
Run Clear (Client Worksheet)<br />6.1<br />
6.1<br />Resource (Run Clear) <br />“Can The Client Perform Financially?”<br />Resource – Ability to Perform Financially<b...
 Credit
 Available Equity
 Line of Credit
 Remaining Balance</li></ul>No Show List – Client’s Inability to Perform Financially<br />
6.1<br />Urgency (Run Clear) <br />Determining What Drives Urgency..<br />Types of Urgency<br />Expiration Urgency – “When...
6.1<br />Needs (Run Clear) <br />Physical (Real Estate) VS Other (Business) Needs<br />Physical  (Real Estate) Requirement...
 “How many SF do you have?”
 “What part of town would you like to be in?” </li></ul>Needs Unrelated to Real Estate<br /><ul><li>“Tell me about your bu...
 “What are your business expectations?”
 “What are you doing to increase sales?”</li></li></ul><li>6.1<br />Causes (Run Clear) <br />Determining What CAUSES PAIN ...
 Creating Excitement and Pleasure towards Future Property</li></li></ul><li>6.1<br />Loyalty (Run Clear) <br />Rating Pros...
 Activities
 Business Relationship
 Social Relationship
 Company Ties </li></li></ul><li>6.1<br />Expectations (Run Clear) <br />Establish Prospect’s Expectations<br />Driving Ex...
 Open Floor Plan (Improved Productivity)
 On Site Amenities (Convenience)</li></ul>Example Question<br /><ul><li>Can you share with me your most important objectiv...
 Interviewing All Influential Parties
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Module 6 business development skills for today's practioners

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Module 6 business development skills for today's practioners

  1. 1.
  2. 2. Module 6: Business Development Skills<br />Module 6 Business Development Skills<br /> 6.1…...……….Client Discovery / Needs Analysis <br /> 6.2…..………………...…Questioning Techniques <br /> 6.3…..………………………...Handling Objections<br /> 6.4…..…………………………Closing Techniques <br />
  3. 3. 6.1<br />Client Discovery - Needs Analysis<br />5<br />1<br />Rating Your Prospect<br />HOT<br />COLD<br />
  4. 4. Run Clear (Client Worksheet)<br />6.1<br />
  5. 5. 6.1<br />Resource (Run Clear) <br />“Can The Client Perform Financially?”<br />Resource – Ability to Perform Financially<br /><ul><li> Evaluation of Client’s (Examples)
  6. 6. Credit
  7. 7. Available Equity
  8. 8. Line of Credit
  9. 9. Remaining Balance</li></ul>No Show List – Client’s Inability to Perform Financially<br />
  10. 10. 6.1<br />Urgency (Run Clear) <br />Determining What Drives Urgency..<br />Types of Urgency<br />Expiration Urgency – “When does your lease expire?”<br />Financial Urgency – Upcoming Debt Maturity<br />Space Urgency – “Will additional Space Increase Revenue?”<br />Location Urgency – “Moving Customer Base, Benefit to a Centralized Location VS Multiple Locations?”<br />
  11. 11. 6.1<br />Needs (Run Clear) <br />Physical (Real Estate) VS Other (Business) Needs<br />Physical (Real Estate) Requirements<br /><ul><li>“When does your lease expire?”
  12. 12. “How many SF do you have?”
  13. 13. “What part of town would you like to be in?” </li></ul>Needs Unrelated to Real Estate<br /><ul><li>“Tell me about your business?”
  14. 14. “What are your business expectations?”
  15. 15. “What are you doing to increase sales?”</li></li></ul><li>6.1<br />Causes (Run Clear) <br />Determining What CAUSES PAIN or DISCOMFORT <br />Establishing Pain and Discomfort<br />“Can you share with me anything unpleasant about your existing facility?” <br />Hot Button Leasing or Selling<br /><ul><li> Connecting Discomfort o Existing Property
  16. 16. Creating Excitement and Pleasure towards Future Property</li></li></ul><li>6.1<br />Loyalty (Run Clear) <br />Rating Prospects Loyalty<br />Strong Existing Relationship<br />(1)<br />(3)<br />(5)<br />No Existing Relationship<br />Common Interest (Creating Loyalty)<br /><ul><li> College
  17. 17. Activities
  18. 18. Business Relationship
  19. 19. Social Relationship
  20. 20. Company Ties </li></li></ul><li>6.1<br />Expectations (Run Clear) <br />Establish Prospect’s Expectations<br />Driving Expectations (Examples)<br /><ul><li>Public Transportation (Increased Employment Pool)
  21. 21. Open Floor Plan (Improved Productivity)
  22. 22. On Site Amenities (Convenience)</li></ul>Example Question<br /><ul><li>Can you share with me your most important objectives, as it relates to this assignment?”</li></li></ul><li>6.1<br />Authority (Run Clear) <br />Determine Authority<br /><ul><li> Establish Decision Making Hierarchy
  23. 23. Interviewing All Influential Parties
  24. 24. Increasing Time Management and Productivity </li></ul>Example Question<br /><ul><li> “Is there anyone else involved in the decision making process?”</li></li></ul><li>6.1<br />Revenue (Run Clear) <br />Account Revenue VS Transaction Revenue<br />Account Revenue<br /><ul><li> Other Service Lines
  25. 25. Property Management
  26. 26. Appraisal
  27. 27. Mortgage Banking </li></ul>Transaction Revenue <br /><ul><li> “Is this assignment cost/time effective?” </li></li></ul><li>6.2<br />Questioning Techniques<br />“You will win more assignments, not by the statements you make, but the QUESTIONSyou ask.”<br />
  28. 28. Questioning Techniques<br />6.2<br />“What do you look for…?”<br />“What have you found…?”<br />“What has been your experience…?”<br />“How have you successfully used…?<br />“How do you propose…?”<br />“How do you determine…?”<br />“Why is that a deciding factor…?”<br />“What makes you choose…?”<br />“What do you like about…?”<br />“Are there other factors…?”<br />
  29. 29. 6.3<br />Understanding Objections<br /><ul><li> Objections Are Sales-Makers, Not Deal-Breakers
  30. 30. Objections Show the Prospect’s Interest
  31. 31. Minor Objections Are Used to Slow Things Down
  32. 32. Objections Show the Prospect’s Interest
  33. 33. Hesitation May Not be an Objection, May Be a Condition</li></li></ul><li>6.3<br />Handling Objections<br /><ul><li>Don’t Argue With Objections – Could Be a Deal Killer
  34. 34. Develop Sensitivity to How Prospects Feel About Their Objection – Show Concern
  35. 35. Lead Your Prospect to Answer Their Own Objection</li></li></ul><li>6.3<br />Handling Objections<br /><ul><li>Identify All Objections and Write Them all Down
  36. 36. Script Responses with Closing Questions For Each
  37. 37. Develop Sales Tools to Enhance / Support Responses
  38. 38. Rehearse and Role - Play</li></li></ul><li>6.3<br />Responding to Objections<br /><ul><li> Hear Them Out – Take Time to Listen
  39. 39. Feed The Objection Back
  40. 40. Question the Objection, Answer the Objection
  41. 41. Confirm and Clarify the Answer
  42. 42. Change Gears – Go Immediately to the Next Step in the Selling Sequence</li></li></ul><li>6.3<br />Overcoming Specific Objections<br />“Monthly rent is too high since the space is a little larger than what I need.”<br />“Lease term is too long; I’m looking for a short term, 1 -2 years.” <br />“Reimbursements for my practice have been cut by at least 20% so I need to reduce my rent accordingly, but I can’t move into smaller space.”<br />
  43. 43. 6.3<br />Overcoming Specific Objections<br />“Only want to do short term renewal, 1 year, since I don’t know how healthcare changes are going to effect my practice.”<br />“One objection we hear particularly in new developments or occupancy-challenged buildings is that “the building is empty”; “there is no traffic”, or “we like the building, but want to wait until there are more tenants”. <br />
  44. 44. 6.4<br />Progressive Chart of Closing Techniques<br />
  45. 45. 6.4<br />Closing Techniques<br />
  46. 46. 6.4<br />Closing Techniques (Trial Close)<br />Trial Close<br />Looking For An Opinion<br />Negotiation Tactic<br />Objection<br />Condition<br />Neutralize<br />Resolve<br />Compromise<br />

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