[fab1an]

Good stuff. I'd add that point 2 (Establish competence) and 3 (confirm pain) should ideally be connected in an educational fashion: start your meeting with data about your potential client's market (and pain), not your product or your company. E. g.: if you're selling collaboration software, provide some (reliable + interesting) statistics on how much time and money is wasted in unproductive meetings etc.

Also, and that's a general rule: ask, don't tell. Get them talking about their problem. If you really have a good solution for it, the most natural progression of such a conversation will lead to your product and why they want to buy it automagically.

I've had "sales" calls where I simply asked prospective clients whether they had a minute to tell me a little more about the problems they're currently facing (which are of course connected to our solution). Instead of pitching them on your product, the client's problem monologue often naturally flows to a point where they bring up the idea of using your solution to solve their problem.