Business Chops Tip #118: Are Your Customers Qualified To Buy?

Ever get frustrated when you lose a deal? "I thought they were ready to buy-something happened." Sometimes what happened was that the customer was not properly qualified in the first place.

A qualified customer has four characteristics: 1) money to pay, 2) authority to commit, 3) need for what you are selling, and 4) desire to buy-it needs to feel good to them. If any one of the four is missing, the customer is not qualified and will not buy.

Remember the acronym MAND (money, authority, need, desire). How well are you qualifying your customers in advance, before it's too late?

Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.