When we are dealing with a potential investor who would like to engage in a certain business, it is only natural to deal with a skeptic who will ask questions and evaluate your proposals. It is one of the reasons why it is necessary to start with the list of the doubts before you continue with the benefits of what you are planning to sell. Such an approach will help you to show that you are confident and can address the challenges right away. The trick is to remain specific and pay attention to detail as you work as an expert by keeping within the explanatory tone.
Here are several points that one must consider when selling your business to a skeptic:
1. Demonstrate Immediate Advantages of Business in Question
Even before you talk to a skeptical customer, learn the strengths and weaknesses of a business in question. The more you explore the business through the lens of competitiveness, the more information you will have. Start by talking about immediate advantages that a person can explore. The prognosis, promises, and even strategic management will not work here. A skeptic’s interest must be captured with the help of an immediate demonstration of how a certain business functions. Doing so will help the skeptic to shape his or her vision and questions differently in real-time. Show confidence and explain how things work in practice and what advantages are already evident in terms of analytical work and financial investments.
2. A Practical Example
Let us envision the business that provides translation of documents and localization services for mobile apps. While this market is quite competitive, there are evident points that make certain companies more appealing. For example, if a certain translation business provides only human translation, has native speakers with relevant certifications, and offers additional free features, such business will be easier to sell and advertise since it stands out from the rest. Have a look at the top 10 online translation services to determine what requirements are crucial for customers in this field by checking what aspects are in demand. It works the same almost with any business sphere, which is why one must compose the list of vital points that outline why it matters for a particular field. Explain how each point increases the practical benefits as one invests funds and time.
3. Provide Evidence
If you say that something is good, remember to provide evidence created by your company, national experts, or independent reviews. If you are dealing with certain products, offer certifications or proof that helps to support your claims. You must provide cold, hard data that will persuade the skeptic. Plan your speech in advance before you meet the skeptic and lead the conversation to sound confident and clear. Provide statistical information and show how you have improved certain problems that have occurred in the past. It will show that you remain true and explain various improvement strategies that relate to your business.
4. Explain Why Your Business Stands Out
You should have at least three reasons why your business is beneficial and why it makes a difference when comparing it to the other options. If we turn to the translation business as an example or the classic car sales, one can start with the various campaigns and offering of things that are not available elsewhere. For example, if you offer translation of the poetry or literary works or focus on the translation of Western African languages for business purposes, it will make it clear that you will always have a specific target audience interested in your services. Likewise, if you are dealing with rare car sales of European dealers, you also offer certain benefits. Remember to provide statistical information if you have it available where similar data is studied or where your company is included on the list.
5. Address Each Unclear Aspect
Keep the healthy balance of offering your information and statistical data as you listen to the skeptic. Show respect and stay patient as your purpose is to sell the business. If you suspect that your explanation is unclear, show some real-life examples and explain things again in simpler terms. Make comparisons to another industry and do not get irritated when the same question is asked over and over again. It is a psychological aspect when a person wants to hear confirmation again to make sure that he or she is correct.
6. Show Your Customer Base Range
Provide the range of your clients. It is especially relevant when talking about services. If you are dealing with legislative services or linguistic offerings, you can explain that it can be anything from civil rights and criminal records to court disputes and an expert’s review. Likewise, you can explain that your beauty products have certain age ranges for an average customer as well as for SPA centers and the professional fashion industry. Take time to explain how your audience works and how you advertise your business with the help of social media, special campaigns, outsourcing, or cooperation with similar businesses.
7. Show Confidence & Expert Knowledge
The tone of your voice is crucial. If you have time before meeting the skeptic, explore their requirements and the background. It will help you to stay prepared and control your client’s decision-making processes. Do not hurry as you explain things and plan your time accordingly to provide important facts and show examples. Be direct, specific, and exact as you explain things. Stay away from vague prospects! If you are being pressed and ignored, do not pay attention and continue with statistical information and free trials that will occupy the skeptic’s mind. Be sure to explain why dealing with your business is the right decision and focus on your successful projects.
8. Provide Legal Information
Do not forget to show your company’s background and talk about legal registration and the details of your business specifics. If you offer this information at the end of your meeting, it will push the skeptic to consider the sale and check the clarity and transparency of your business. Invite your legal advisor to be present at the meeting in case any issues or questions arise. It will help you to focus on the different aspects. The most important is to sound clear and be ready to offer any information or statistics that are requested.
Related: Legal Documents For Selling a Business
The Role of Customer Testimonials
One of the most important aspects of dealing with a skeptic is providing feedback from those who have tried your products or services. While you have to become an authoritative figure for your client, it is only natural to suspect that you are biased since you are trying to sell your business. Therefore, providing expert reviews and customer testimonials will provide an additional opinion. It helps you to achieve credibility as you are not afraid to show existing testimonials and share expert reviews even in those cases that have been quite challenging. You have to show that you reply to the comments since it is always appreciated when you care for someone's input. By providing testimonials, you also achieve several other points: skeptics usually lower their defense and start approaching you in a more serious way as they consider your business.
BIO: As the global marketing specialist with a linguistic background, Michael constantly explores the ways how one can achieve business success when promoting business ideas and services. His posts offer efficient and accessible solutions. Follow Michael to brainstorm your ideas and become inspired!
