No matter how good you are at putting deals together, it won’t do you any good unless you get them signed up and finished. In this Billboard Mastery podcast we’re going to review the tricks and concepts that will help you have a higher rate of closing on your billboard deals.
Episode 42: Closing Deals Transcript
Webster's Dictionary defines closing is bringing to an end. However, what we'll be talking about in closing today means a new beginning. This is Frank Rolfe with the Billboard Mastery podcast, we're gonna talk about closing deals, trying to get someone to actually sign the document, because until you sign the document, you don't have much. So what does it mean, when you say closing? What is that defined as well, it means doing the steps necessary to wrap things up to actually get the person wherever the party may be, to commit to sign the document to sign the ground lease for your sign to sign the ad lease to rent the sign. And why is it so important? Well, the problem is, so many people have great talents, sales, and negotiating, but they're not very good at closing. So as a result, they waste a lot of time, they get almost out of the one yard line, like football with the candidate for score. As we all know, if you watch your team on a Sunday, and they lose miserably, it's really tantalizing if they got down and almost scored 44 times, but they never went in the endzone wants, didn't do any good at all right, didn't get any score. So closing is really very important to your career in Billboard investing. So let's go over some of the standard closings, why they work and it'll all make sense in the end. So let's assume that you're trying to build a sign on somebody's property. So what you normally do is if you can meet him out there at the property, and then start off the conversation with, you know, let me show you where it's gonna go. And walk over, show them the spot, show them where you're going to drill the hole, explain how you're going to bring the sign in with the access is going to be for it. And then say, you know, let's, let's go and get this thing sign up and get it get going. Or let's say you're going to go ahead and buy the sign from someone owns a sign that you say, Okay, well, next steps are going to be I'm going to go out there and get a new new sign face made, start renting the ad space, do little inspections, make sure the safety is all good. And so let's get that going and sign right here. Or you're trying to read the ad space to say to them, okay, well, now what are you thinking? As far as the ad copy? Here are some ideas I had? And oh, yeah, let's go ahead and get this thing signed. So we can get that artwork started. What have I done in all three cases, what I'm doing is I'm pointing the person to the future. Because if I talk the future, and they talk the future, then in their mind, they've already signed, they've already agreed. Car dealers do the same thing. They like to show you the car that's for sale. They tell you the interior of the car. And then they say things like so what do you want to buy for the for the match of the car, I'll throw some in, they wanted to get it where you always are mentally have done it. That way, your brain doesn't push back as much. If you've mentally already committed, then you start getting comfortable with it. If I say to someone, here's where the poll goes. And here's what we're going to do. Well, they're already thinking like, they signed it, and they're starting to visualize and get comfortable with the whole idea. It's really hard, though, to get people to go out of their comfort zone. That's the key, it's hard to get them to like first dive into the pool. Now, once you're in the pool, it's all fun. But that initial first steps, that's where there's the most hesitation because they think I don't want to get the pool, maybe it's cold and whatever, until you have to push them in the pool to get there. But the key is, if you don't set in motion, the mechanics of closing, it'll never happen. If I go out and talk to the person about hey, put a sign in your property, it'd be great, wouldn't it? Yeah, it's great and get you some money, who that's great. But if I don't actually get you to sign the agreement, I wasted my time. And people will talk and talk and talk and talk and talk and not take the action step because it gets them out of their comfort zone. So really closing is all about getting people over whatever it is is holding them back from doing what you want to be done. So it's your job to basically guide them through the process mentally that it's okay to do it. It's okay to sign it. It's okay to erect the sign in this corner of your property. And if you have the confidence if you see Like, okay, this is a good idea. People will typically go along with you, they look all the times to the salesperson, or the land lease person, or whatever role you're running for the moment, they always look to you for affirmation. If it's good or bad, it seems odd because you wouldn't think people would, but that's how it works. You ever been to like a store that sells clothing or something? And people will ask the salesperson so you know this? Does this look good on me? Well, of course, they're
gonna say, yeah, it looks fantastic on you. But it seems weird that that's the person you'd ask when you ask someone who has no affiliation with the sale at all? Well, I think I would, maybe another customer standing around, hey, excuse me, how do I look at this? Oh, you look terrible. But no, instead they ask the very person that is the most unusual to ask. And that's the person who's actually doing the sales. And when you are trying to build a sign or buy a sign or read a sign. That's actually how the priority level works. The bottom line to it all is it closing is not hard. Once you're you've done it a few times. The most important thing to remember of a good closer is the good closer, makes the person comfortable with the idea makes them feel that that's a positive step for them to do it. And they get them thinking, thinking into the future, the next steps after they do it. Because once someone visualizes what they're doing once they visualize that next step, they grow ever more comfortable with it. And they will let you kind of run with that narrative as you kind of guide them on the journey. But the key item is you've got to get them into the end zone. And to get them there. You sometimes have to have them already mentally imagining how wonderful it will be when they get to the end zone, and they have their celebration dance. This is Frank Rolfe Billboard Mastery podcast. Hope you enjoy this. Talk to you again soon.