“Put that coffee down! Coffee’s for closers only.” Many of us have seen the movie Glengarry Glen Ross and remember the impactful scene at the beginning of the movie when Alec Baldwin introduces the concept: “A.B.C. Always Be Closing” to his team. Although he was speaking to a team of salespeople, the benefits of having “closers” throughout your organization stretch far beyond the sales desk. Closers are influential individuals in your organization that drive items to a decision effectively and ensure action is taken on those decisions to propel your company forward.
Who are the closers?
Everyone in the asset management space, from front to back office is influencing, persuading, and garnering “buy-in” in some way. Think about a person you consider successful in your workplace then drill down to the factors that have helped make them successful. This person is likely persuasive, influential, goal-oriented, and driven. Let’s face it, they’re a closer and that complements their expertise and technical knowledge—making them a well-rounded resource who is more likely to be successful in their role.
Why are closers important?
Analysis, solutions, and objectives that don’t garner ‘buy-in’ are shelved, and the work becomes a wasted effort. This applies to anything from a new investment idea, new product, or new business strategy down to day-to-day decisions and even tactical project execution. Closers help you avoid analysis paralysis as they drive teams to a decision.
How do closers help an organization? The closer does not simply work to obtain a decision, they also drive action. Actions are what propel decisions forward. The faster decisions are reached, the faster you can start executing on them.
Where do I start?
To ensure you have built the strongest team possible, start by looking carefully at your job descriptions and new hire interview questions. If you notice a propensity toward focusing on the types of skills that can be learned on the job, instead of the personality traits inherent in a successful and influential person, then it might be time to revisit your hiring approach. Always look for a balanced candidate—subject matter expertise and industry knowledge balanced with an influential, persuasive, and driven personality will yield highly productive results.
Next, look at the professional development opportunities you offer your employees. Are the activities overwhelmingly focused on technical skills training that can be learned on the job rather than soft skill development and refinement that coaching and mentoring can help bring out in people? If so, explore options to complement your training program with soft skills training opportunities. When designing your program, remember that every organization needs people who just want to crank out work and may not be interested in roles that require them to be “closers.” Foster their needs while also fostering the needs of those that have an interest and a demonstrated ability to grow into “closer” roles.
At Citisoft, we pride ourselves in hiring industry veterans who possess the subject matter expertise and systems experience needed to be successful. We differentiate ourselves with the soft skills our consultants possess which will help propel your organization through an engagement.
The time has arrived to expect more from your internal resources and the resources provided by your consulting partners. The time is now to start developing your staff and hiring closers.
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