Financial Justification - Virtual Edition

Establish A Financial Advantage and Sell At The Executive Level

Objective

Enable attendees to develop, justify, and present a sound financial business case that demonstrates the unique value of your products, services, and solutions.
Understand and establish your unique financial benefits.
Sell and present at the executive level.

Course Synopsis

At Sales Concepts, we believe there is no single "Right Way" to sell. Using our unique experiential learning methodology we customize this program for the individual needs of each attendee! Our goal is to help each individual person enrolled in Financial Justification build and present sound financial cases for executives and decision makers.

User and technical influences are often unable to purchase capital intensive products or services. Usually, the decision is made at the executive level by the economic buyer and/or a buying committee. Decisions are made using financial justification models such as cash flow, hurdle rates, payback, return on investment, life-cycle return, etc. During the course, attendees are introduced to financial concepts and how to use them to uniquely cost justify their products and services. This class helps salespeople win capital-intensive, big-ticket complex business at the executive level.

Video recordings of the two simulated online customer encounters result in meaningful personal constructive feedback.

Topics Covered

Building A Business Case
	Establish value and create a sense of urgency.

Financial Concepts
	Understand how decisions are made from a financial perspective at the executive level.

Quantifying Benefits
	You can't just say it, you have to prove it.

The Sales Process
	Fit into the customer's buying cycle.

Establishing a Financial Advantage
	Understand and position your unique benefits.

Selling Value Instead of Price
	Business is seldom lost because of price alone.

Asking Financial Questions
	How to obtain the information to build a sound financial case.

Listening for Financial Information
	You've asked great questions, now listen and understand the answers.

The Difference Between Cost and Price
	Why a lower price may cost more.

Closing Strategies
	Use unique financial benefits to close business.

Program Length

Nine sessions and two sales calls based on a customized case study of Experiential Training.

All Sessions are 45 minutes and held on Tuesdays and Thursdays11:00 AM ET/8:00 AM PT

Course Agenda

Session I ~ 45 Minutes
	Introduction and the Sales Reality
		Corporate sales should be approached differently from technical sales. Attendees view a video of an instructor calling on a prospect. A discussion follows. A second video segment is shown. This time the prospect’s manager wants financial justification of the product. Other people in the company have their agendas. Attendees see that they have to compete with more than just their direct competitors.

Session II ~ 45 Minutes
	Financial Concepts Part I
		Concepts such as Cash Flow, Risks, Payback, Present Value, Future Value, Return-On-Investment, Internal Rate of Return, Operating Costs, Hurdle Rates, Cost of Ownership and Life-Cycle Cost Analysis are discussed along with how to apply them in varying situations. The goal is to evaluate where decisions are made, not to make salespeople into financial wizards.

Session III ~ 45 Minutes
	Financial Concepts Part II
		Continued from the prior session. Tools are demonstrated and discussed as to how to differentiate yourself financially.

Session IV ~ 45 Minutes
	Building a Business Case — An Overview
		The components of a successful business case are analyzed and evaluated. Effective financial-based strategies are identified and discussed. The focus is on acquiring and applying business knowledge to specific selling situations so that the financial strategies align with the buyer's and the seller's financial objectives. This session concludes with a discussion on how to present and negotiate win-win, financial-based solutions.

Session V ~ 45 Minutes
	Presenting a Business Case
		Aspects of presenting a case at the executive level are evaluated. Topics covered include: speaking the customer’s financial language, understanding how the customer views risks, explaining and quantifying unique financial benefits, establishing a sense of urgency, and how to tie your benefits to the customer’s financial hot-buttons. The attendees are given a spreadsheet they can use to analyze, quantify, and present their business case.

Session VI ~ 45 Minutes
	Questions Unlock the Information
		A business case is only as good as the information that goes into building it. Without the right financial data, the impact of any business case is lost. In this session, we explore how to acquire the information needed to build a sound business case. Four different types of questions that yield accurate and powerful information are discussed. Other sources of financial information are also evaluated.

First Customized Virtual Sales Call ~ 60 Minutes
	(date and time determined with participant)
		First Virtual Sales Call via Zoom Each participant makes a virtual call via Zoom to a Sales Concepts instructor. The scenario, designed by the attendee's manager and a Sales Concepts instructor, simulates a realistic environment. The attendee should relate to style, build rapport, and discover the customer's needs. Individual feedback provided following the sales call offers the salesperson ideas for improvement.

Session VII ~ 45 Minutes
	Establishing and Quantifying Value
		Attendees are asked to write three items about their products, services, or company that might give them the edge over their competitors and why. Seldom are they able to provide a financially quantifiable reason as to why a customer would agree. Analysis and a discussion follows as to "What would that mean to a customer?" and "Why should they care?" Almost always the answer boils down to money.

Session VIII ~ 45 Minutes
	Closing Strategies and Creative Thinking
		A fun, interactive workshop that stresses creative ways of presenting and closing using the Financial Justification Methodology.

Second Customized Virtual Sales Call ~ 60 Minutes
	(date and time determined with participant)
		Second Virtual Sales Call via Zoom Again, the attendees are given a chance to meet with their hypothetical customer in a selling situation. This time they are asked to present the business case they developed from the information they acquired during the first call. Skills emphasized in this call consist of: the ability to present and quantify financial advantages that are unique to their offering. their ability to create a sense of urgency and gain a commitment from the customer to close the business or move the sale forward. Attendees are expected to use financial information acquired from the first call to present a sound business case at the executive level. Individual feedback provided following the sales call offers the salesperson ideas for improvement.

Session IX ~ 45 Minutes
	Course Summary
		Attendees and instructors discuss the sales process and what attendees plan to do differently as a result of the course. Attendees are encouraged to set themselves apart from their competition with unique financial benefits.

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