Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Research shows that the most successful business generators ask a lot of questions, particularly at the beginning of the sales or business development cycle. Good questions build rapport and help to determine a prospect's needs, problems, motivations, rationale, choices, and objectives. Plus, successful business generators tend to ask questions in particular sequence. This sounds fairly simple, but it takes consistent work and strong skills to become effective at using this approach to successfully generate new business.
Background Questions
Background Questions are used to establish the facts about the prospect's situation. They are the first level of questions that you ask. They are important, but you want to limit them, particularly with more senior-level prospects. Research shows that the higher up your prospect is in an organization, the less likely he/she will like answering Background Questions. Their time is very valuable, so the more information you can gather prior to the meeting, the better. Look to annual reports and articles, and try to find out what other public and relevant information that you can about the company and prospect. Background Questions can lead smoothly and naturally to a discussion of potential problems.
When asking Background Questions, you will want to listen for implied or explicit needs. Implied needs are statements about a prospect's problems, difficulties and dissatisfactions. A typical example of an implied need may start with “I'm unhappy with ' ” or “ I'm worried that '”. On the other hand, explicit needs state the prospect's wishes. For instance, “I am looking for a full-service firm.” Explicit needs are the key drivers of purchasing decisions.
Sample Background Questions
Problem-Solving Questions
Problem-Solving Questions are used to explore problems, difficulties, and dissatisfactions with an existing situation. These questions are asked after you have asked your Background Questions. Listen for implied or explicit needs.
Sample Problem-Solving Questions
Consequence Questions
Consequence Questions take a prospect's problems (i.e., a need that is not being satisfied) and explore their implications or effects. These questions are especially effective when you are selling to a decision-maker whose success in his/her organization depends upon his/her ability to see beyond the immediate problem and to comprehend its eventual consequences. Consequence Questions help the prospect understand a problem's seriousness or urgency so that it becomes large enough to justify an immediate and significant action (such as retention of outside counsel or making a firm change) or help the prospect see a link to another potential problem. Consequence Questions create a stronger sense of need before you introduce a possible solution. These questions can transform implicit needs into explicit needs. A prospect may be engaging in denial or avoidance behavior. Such questions force the prospect to acknowledge pain and, therefore, to appreciate the need for treatment.
Sample Consequence Questions
Outcome Questions
Outcome Questions focus on what outcomes the prospect would find acceptable. They prompt the prospect to tell you the benefit that your solution could offer rather than your being forced to explain it. Selling is not about convincing a prospect but, rather, about creating the right conditions for the prospect to talk him/herself into acceptance. Outcome Questions also reduce objections. Consequence Questions are often the mirror image of Outcome Questions.
Sample Scenario and Outcome Questions
You are an experienced entertainment attorney. You are speaking to a prospect who is a famous pop singer. She feels that her current attorney may not be getting her the most favorable terms in her contracts, but she does not know what those are because the terms in artists' contracts are not publicly reported and are subject to confidentiality
requirements.
On the other hand, your firm may have represented those companies or peer artists in similar contracts and, therefore, know what terms they have agreed to. Without breaching confidentiality, the entertainment company and you know what those terms are so the companies could not reject a position you have gotten on the basis that is
not “market.”
One way to explore the problem would be to ask as a Consequence Question like, “Do you feel that your current attorney is knowledgeable about the terms your peer singers are getting in their contracts?” or “Which of your peers has your current attorney represented in similar negotiations?” An Outcome Question may sound like, “How could our deep experience working with the big entertainment companies (or peer artists) help you to achieve more favorable terms?”
Conclusion
In summary, excellent questions asked at the appropriate times build rapport and help you to focus your solution. They also help you to keep your prospect involved in the business development process. Try some of these techniques at your next business development meeting and see what results they yield.
Founder and President of Progress in Work LLC, a career management firm for the legal profession, Sheryl A. Odentz, M.A., Ed.M., CMF, has worked for more than 20 years advising attorneys on how to take ownership of their careers and reach their optimal potential. She may be reached at 212-532-6670 or via e-mail at [email protected].
'
Research shows that the most successful business generators ask a lot of questions, particularly at the beginning of the sales or business development cycle. Good questions build rapport and help to determine a prospect's needs, problems, motivations, rationale, choices, and objectives. Plus, successful business generators tend to ask questions in particular sequence. This sounds fairly simple, but it takes consistent work and strong skills to become effective at using this approach to successfully generate new business.
Background Questions
Background Questions are used to establish the facts about the prospect's situation. They are the first level of questions that you ask. They are important, but you want to limit them, particularly with more senior-level prospects. Research shows that the higher up your prospect is in an organization, the less likely he/she will like answering Background Questions. Their time is very valuable, so the more information you can gather prior to the meeting, the better. Look to annual reports and articles, and try to find out what other public and relevant information that you can about the company and prospect. Background Questions can lead smoothly and naturally to a discussion of potential problems.
When asking Background Questions, you will want to listen for implied or explicit needs. Implied needs are statements about a prospect's problems, difficulties and dissatisfactions. A typical example of an implied need may start with “I'm unhappy with ' ” or “ I'm worried that '”. On the other hand, explicit needs state the prospect's wishes. For instance, “I am looking for a full-service firm.” Explicit needs are the key drivers of purchasing decisions.
Sample Background Questions
Problem-Solving Questions
Problem-Solving Questions are used to explore problems, difficulties, and dissatisfactions with an existing situation. These questions are asked after you have asked your Background Questions. Listen for implied or explicit needs.
Sample Problem-Solving Questions
Consequence Questions
Consequence Questions take a prospect's problems (i.e., a need that is not being satisfied) and explore their implications or effects. These questions are especially effective when you are selling to a decision-maker whose success in his/her organization depends upon his/her ability to see beyond the immediate problem and to comprehend its eventual consequences. Consequence Questions help the prospect understand a problem's seriousness or urgency so that it becomes large enough to justify an immediate and significant action (such as retention of outside counsel or making a firm change) or help the prospect see a link to another potential problem. Consequence Questions create a stronger sense of need before you introduce a possible solution. These questions can transform implicit needs into explicit needs. A prospect may be engaging in denial or avoidance behavior. Such questions force the prospect to acknowledge pain and, therefore, to appreciate the need for treatment.
Sample Consequence Questions
Outcome Questions
Outcome Questions focus on what outcomes the prospect would find acceptable. They prompt the prospect to tell you the benefit that your solution could offer rather than your being forced to explain it. Selling is not about convincing a prospect but, rather, about creating the right conditions for the prospect to talk him/herself into acceptance. Outcome Questions also reduce objections. Consequence Questions are often the mirror image of Outcome Questions.
Sample Scenario and Outcome Questions
You are an experienced entertainment attorney. You are speaking to a prospect who is a famous pop singer. She feels that her current attorney may not be getting her the most favorable terms in her contracts, but she does not know what those are because the terms in artists' contracts are not publicly reported and are subject to confidentiality
requirements.
On the other hand, your firm may have represented those companies or peer artists in similar contracts and, therefore, know what terms they have agreed to. Without breaching confidentiality, the entertainment company and you know what those terms are so the companies could not reject a position you have gotten on the basis that is
not “market.”
One way to explore the problem would be to ask as a Consequence Question like, “Do you feel that your current attorney is knowledgeable about the terms your peer singers are getting in their contracts?” or “Which of your peers has your current attorney represented in similar negotiations?” An Outcome Question may sound like, “How could our deep experience working with the big entertainment companies (or peer artists) help you to achieve more favorable terms?”
Conclusion
In summary, excellent questions asked at the appropriate times build rapport and help you to focus your solution. They also help you to keep your prospect involved in the business development process. Try some of these techniques at your next business development meeting and see what results they yield.
Founder and President of Progress in Work LLC, a career management firm for the legal profession, Sheryl A. Odentz, M.A., Ed.M., CMF, has worked for more than 20 years advising attorneys on how to take ownership of their careers and reach their optimal potential. She may be reached at 212-532-6670 or via e-mail at [email protected].
'
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.