Process for a Closing a Sales Partnership Agreement
You have presented to the client either face to face or MS Teams. You have got them talking, listened to and recorded their needs. Then quoted them back for confirmation. Then and only then do you explain the SPA benefits that match those listed needs and received tentative agreement (test closing). The meeting closed then you would email a formal proposal. You have done that using our templated email and contract. You now must make the closing meeting. Below is the process to follow.
Negotiation
The deal has two aspects the set up fee advance and the ongoing percentage override.
Most prosects if they negotiate, focus on the first payment. What they have to pay now. Recruitment override fees are after they have received cash so rarely challenged.
Respond by pointing out this is a fraction of what we spend and do up front to prepare thoroughly and professionally to regularly secure quality candidates for them. We do not discount. If they cant afford it we don’t work for them.
Be aware those who want to pay nothing are a waste of time. they do not have any money. You should be reticent to offer a SPA to those who do not already have a sales team of at least two people and a support infrastructure in place. Or perhaps a start-up of an experienced Sales Director with venture funding behind them. Those should have been filtered before this stage.
The first payment is just that. The important thing is commitment from the client and then cash flow to fund advertising, events, and your time.
The Closing Meeting: Key Points to Agree
Agree advance deposit and fee rate. Also agree process. For example they can have a live or online IPDays (downsell), and include via zoom, or just rely on us to make the decisions, or have short list interviews with client at end of event. Then confirm that we will send the contract and invoice. Never start work until they have paid the deposit. The next stage is to information gather and produce recruitment materials.
Next actions.
Recruitment funnels to attract non sales professionals into the profession.
The following information you need from the client. Follow up this conversation with a list.
Non-Website Company Information
Anything they have on the company that will help sell it and inform key facts to candidates. Leadership, long term vision, how big sales team now, offices etc. Refer to their website, yet most companies do not often update. This could include details of current projects, brochures, sales manual, key success stories.
Earning Matrix Data
We need information on expected earnings to produce a 12 month expected earnings. So we need top billers income, plus average income, how long on average before first deal. Size of deal, rate of commissions. Is work all on the phone?
Job Description and Advert Data
We need the USPs of why work for the company corporate culture style its vision, leadership, and future plans.
Product Data
What are the main products for sale, their margins, USPs, commissions,
Special? Beat competition.
Market and competitor analysis.
Manager responsible for new staff.
Do they have someone responsible for onboarding new staff. Do they have an onboarding pack.
Onboarding process.
Can they help with accommodation, visa, local bank etc.
Training and Personal Development.
What do they do to develop staff.
Marketing and lead generation support.
Remuneration.
Commissions, Bonuses, Trips, Promotions, Benefits.
Acceptable profiles.
Is there a distinct type of person that fits in with your team. Age, background, race. Do you accept conversions from other professions to sales.
Other office plans.
Following the Meeting
Get the contract and invoice out fast.
Rarely will they query anything in the contract. Make sure someone checks any proposal and terms and conditions.
Do not start work until the invoice is paid. Actually paying the invoice legally signs the contract from our point of view.
Write and publish adverts and launch initial adverts and brief outsourcing candidates’ acquisition (RPO) companies. This is important as you can build a candidates bank whilst you prepare other materials.
Write up job description and place on our website and eventbrite.
Book first IPDay venues around the UK.
Design and launch recruitment funnels for non sales professionals.
Agree and brief event Presenter and Admin Person.
Brief Candidates Support Manager to get ready. There job is to keep close to the candidates to make sure they stick with it and to delve for important information.
Prepare intro speech for Presenter.
Agree process and send people to clients
Repeat process for more candidates, learn from feedback.
Agree monthly productivity figures and raise invoice.