Cracking the Code: Averting Legal Pitfalls in SaaS Sales Through the Art of Asking the Right Questions

In my journey as a SaaS sales advisor, I've encountered my fair share of victories and challenges. One particular stumbling block that taught me valuable lessons was overlooking the legal process after receiving a verbal commitment from a prospect.... Yes, it does happen, but you learn from it! The exhilaration of closing a deal can be short-lived when legal intricacies add unforeseen delays, impacting quarterly goals and tarnishing professional credibility. In this article, I'll share my experiences, the challenges I faced, and the practical solutions I've learned to ensure a smoother sales experience.

The Challenge:

There's a certain high that comes with getting a verbal "yes" from a potential buyer. I've been there, rushing to my boss with confidence, proclaiming the deal is in the bag.

Yet, in my eagerness, I've sometimes neglected a crucial step—the legal process. The oversight can lead to legal reviews and back-and-forth discussions that add weeks, or even months, to the deal's timeline. The end result? A missed quarterly target, a professional setback, and a valuable lesson learned.

What did I learn?

Through trial and error, I've discovered effective strategies to mitigate the risks associated with the legal process. Here's what I've learned:

1. Initiate Legal Discussions Early: Don't wait until the eleventh hour to involve legal teams. Initiate discussions early in the sales cycle to identify potential roadblocks and ensure a smoother legal review process.
2. Educate Your Prospect: Share insights about the legal steps involved in the buying process. Providing your prospect with a clear understanding of what to expect can help them prepare internally and expedite the legal formalities.
3. Ask the Right Questions: Beyond product fit and budget, inquire about the legal aspects. Questions like:

• "What is your company's typical legal approval timeline?"
• "Are there specific compliance requirements we should be aware of?"
• "Who are the key decision-makers on the legal side?"

4. Establish Milestones: Break down the buying process into milestones, including legal reviews. This not only sets realistic expectations but also helps in tracking progress and addressing potential bottlenecks.

5. Build Relationships with Legal Teams: Forge direct connections with legal teams on both sides. Establishing a collaborative relationship expedites the review process and minimizes misunderstandings, fostering a smoother path to closing the deal.

The learnings above truly work and has helped me tremendously and the challenges I have encountered in my SaaS career has become a stepping stone, propelling me forward. The experience has taught me that in the ever-evolving landscape of SaaS sales, understanding the nuances of the buying process, particularly the legal aspects, is a skill that truly distinguishes successful advisors from others. Keep in mind that every challenge is an opportunity to refine your approach. Celebrate your victories, relish the positive moments, but carry forward the wisdom gained from overcoming obstacles ??

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