The F Word – Fear of Losing the Deal
The F Word – Fear of Losing the Deal
Why do we let fear (or the “F” word as I like to call it) get in our way? Why are we so unwilling to take risks?
It seems the longer we have been in sales, the less likely we are to take the risks necessary to continue to grow and succeed.
Yet the very behavior that we believe will keep us secure is most likely putting us at risk.
I have seen it with entrepreneurs, friends and colleagues. They seek out people and tools that will help them be secure instead of seeking out the people and tools that will challenge them to thrive. They spend so much time worrying about what somebody else is doing that might negatively affect their current state versus thinking about how they can continue to experience new opportunities for fulfillment and success in their future state.
One of the most obvious places I see this in sales is the fear of losing the deal.
Many sales people are great at making friends. They can open just about any door. The problem is, they don’t like closing any doors. One of the most important traits a sales professional needs to have is the ability to break up with prospects. Why? Three reasons:
- Focus – Trying to make everyone happy means nobody is happy. By focusing on the right prospects that stand to gain the most value out of your solution, you will close more business.
- Speed – Trying to keep every deal alive slows you down. If you are doing this, chances are you are, in many cases, trying to make your product or service fit too many of your prospects. Understanding which prospects are the best fit for your solution will speed up your sales process.
- Profit – This should be obvious, but just in case…if you narrow your pipeline to prospects that fit your Target Client Criteria, they will most likely stand to gain the most from your product or service. They will see the value you help create for their business and will be willing to pay for it. If you are competing on price alone, say goodbye to the prospect.
Is that scary? At first, possibly, but if you commit to focusing the right activity on the right prospects and the right buyers for your product or service, you will succeed. No “maybe’s,” no “possibly’s,” or “might’s” – you will succeed.
What’s the worst thing that can happen? You could be wrong. But that will only serve to get you focused on what is right.
Don’t let fear get in your way. Get out there and put yourself out there. Take great risks and find great success. Or be safe, and watch your colleagues pass you by.
