📄 The why & how of "closing the door on a buyer"

The other day, one of my students said:

"When a buyer isn't ready to buy, I like to leave the door open, in case they get themselves ready".

To be sure, that's a nice and friendly attitude... But it's also a sure-fire way to create a pipeline full of stalled deals, with buyers who ghost you.

Of course, you shouldn't slam the door in their face if they're not buying - but, 'closing the door' is actually a really good idea, so long as you do it right.

As in:

You close the door, you tell them why, and you show them the doorbell: "I'm here any time you need me, and you're always welcome".

In practice:

Suppose you've met with your buyer a number of times, and they keep teetering on the brink of buying... and they just can't get themselves over the line.

In such a case, you can simply tell them:

"Hey look, it seems that right now, it's not the right time for you to make a decision on this proposal.

"Let's take this deal off the table for now - so we both know where we stand, and I'll know I don't have to bother you with any follow-up messages.

"Whenever you're ready to re-open the conversation, just let me know.

"Does that sound fair?"

Two possible outcomes:

Your buyer will either agree, and thank you for being on their side, and they'll very likely say "Ok" when you tell them "Let's talk again later this year".

Or - and this happens more often than you would expect - they will tell you to not take the deal away, and they'll proceed to raise objections or concerns you can discuss, or they ask you questions they need answered in order to make a decision.

Either way:

Never let your friendly nature be the reason your pipeline gets cluttered with stale deals, and never be afraid to take a deal off the table and close the door.