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6 ways to close deals faster by getting legal on your side

6 ways to close deals faster by getting legal on your side

6 ways to close deals faster by getting legal on your sideJen Patterson
Sr. Content Marketing Manager

The Miranda Priestly to your Andy Sachs. The Toby Flenderson to your Michael Scott. The Legal to your Sales departmentā€”oofā€”we went there!

Whether you work at a high-brow fashion magazine, a paper company in Pennsylvania, or somewhere in the real world, it can feel like thereā€™s always someone making your job harder than it needs to be. And these pains are especially poignant if your role is to close deals and to do it fast.

Weā€™re not here to hate on legal teamsā€”hey, those are our peopleā€”and we donā€™t think corporate attorneys are on an evil mission to antagonize account executives.Ģż

But itā€™s undeniable that real internal challenges arise when getting a deal across the finish line. And the lack of understanding about what exactly causes the hold-up makes the whole mess even more infuriating.Ģż

6 reasons deals get stuck with legalā€”and what sales leaders can do about it

Recently, we sat down with sales coach and deal-closing guru, , and 51³Ō¹ĻĶųā€™s own Chief Legal Officer, , to learn what drives them crazy about each otherā€™s orgsā€”and even more importantlyā€”whatā€™s really going on when a deal stalls.

Hereā€™s an insiderā€™s view on why deals get stopped short and how sales teams can better partner with legal to get the deal across the line.Ģż

1. Deals come through with missing information

You know the saying, ā€œThe devil is in the details?ā€ When it comes to closing deals, the devil is actually in not providing enough details. So says 51³Ō¹ĻĶųā€™s CLO, Nguyen, ā€œThe simplest way to waste time internally is not providing enough information to prioritize or contextualize the deal accurately.ā€

Expert tip: Account executives can minimize the internal back and forth by providing critical details upfront.Ģż Examples include, when the deal is forecasted to close, the total dollar amount, and pertinent information from commercial terms.

2. Your prospect is an enterprise organization

ā€œIn an ideal world, legal doesnā€™t touch the deal,ā€ explains Nguyen, ā€œbut thatā€™s not a reality when youā€™re prospecting enterprise companies.ā€Ā 

Why the need for a hands-on approach? Enterprise orgs are more likely to have a large procurement team, a 50+ page contract, and yards of red tape that require legalā€™s detangling expertise.Ģż

Worth the complexity? Yes. Speedy? No.Ģż

Expert tip: Bring legal into the discussion earlier in the processā€”as soon as the enterprise shows intent to buy. Partnering with legal before contract negotiations means getting guidance on what information to collect upfront, a forecast for time to close, and what else to expect from the process. (For example, smaller organizations may ask for your SOC certificate, whereas the IBMs of the world will require a full security review.)Ā 

3. Avoidable commercial issues

Sales teams need the freedom to focus on selling. Legal teams need the trust that theyā€™re working in everyoneā€™s best interest. But this shouldnā€™t mean that these teams are working in silosā€”because when they do, it causes a slowdown with repeat, avoidable commercial issues.

Expert tip: Sales and legal must partner to educate AEs on common commercial issues and sticking points. Zwizinski says sales should then ā€˜pre-sellā€™ the obvious sticking points like SLA, SaaS subscription fees, etc., to save everyone time.Ģż

4. Unnecessary or confusing contract language

If prospects are constantly bumping up against the same section in a contract or regularly object to specific language, itā€™s a clear signal that something needs to change. On this, Zwizinski says, ā€œYour internal selling process can slow down the deal time. And effective sales teams are tracking where these slowdowns regularly occur.ā€

Expert tip: Zwizinski and Nguyen agree that an unnecessarily complex contract doesnā€™t serve anyone. If sales teams know what sections of the agreement cause an issue, itā€™s time to partner with legal to adjust the language. This is another example of how building a relationship based on trust and an environment of cross-collaboration can help close deals more quickly.Ģż

5. Deal timing (think: EOQ)

Everyone gets busy at end of quarter. We repeatā€”everyone gets busy at end of quarter. And legal teams feel the increase in pressure too, yet cannot clone themselves.Ģż

The hard truth is that timing can slow down a deal, and lawyers are people (weā€™re pretty sure) with more on their plates than whichever deal youā€™re waiting on. Even if itā€™s not EOQ, lean legal teams regularly work on urgent company needs that require the teamā€™s attention over whatever deal youā€™re working on.

Expert tip: Okay, you can guess this one by now. This is another scenario where including legal earlier in the process helps set expectations for both orgs. If somethingā€™s too complex to push through before EOQ, wouldnā€™t it be less frustrating to hear that a week in advance? If you can do something to speed up time to close and hit your goals, donā€™t you want to know that as soon as possible? Consider inviting your friends in legal to attend pipeline review meetings so they have visibility into which deals are coming down the pike (or at least invite them to lunch to say thanks for all their help).

6. No one knowsā€”but they should

The scariest of all reasons a deal gets stuck is the reason no one knows. Huh? Itā€™s true, many teams suffer again and again just to keep wondering where and why this happens. Andā€”oddly enoughā€”even the most aggressive finger-pointing wonā€™t solve the problem.Ģż

Expert tip: Leveraging contract management software like 51³Ō¹ĻĶų solves this ā€œnon-problemā€ by providing data points about where and how long deals are sitting. It might feel like legal is sitting on a deal, when in reality finance is working to get a discount approved or the counterparty is slow to respond. Either way, you canā€™t fix what you canā€™t see, which is why deal visibility provided by contract management software is crucial for closing deals faster.Ģż

Close deals 20% faster by getting legal on your sideĀ 

Want to learn more in-depth tactical strategies for how to partner with legal and close deals faster? Watch our full conversation with Dale Zwizinski and Jessica Nguyen, where they dive deep into how high-performing teams are closing deals 20% faster by getting legal on their side.

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