Front Office Box

Losing deals is something I’ve done too often, so will claim some expertise in the subject.

It makes me feel like sh*t. How about you?

The reason for the question is recently I’ve been working with a VP of Sales who’s take on the matter is “you have to kiss a lot of frogs to find one that turns into a princess”.

This adds to my bewilderment when a good friend of thirty years, and a very successful (at times) sales guy told me he lost 30% of the deals he bids. I should explain he has a very specific proposition which is real easy to qualify and saves his customers large sums of money, every time.

When I lose a sale I’m a really annoyed – with myself.  Because I’m better than that, or at least plan to be.

If I decide to bid for a deal all of the strategy and tactics have been worked out.  From that point it’s simply a question of execution, and focus – staying on top of events and managing those which work against me.

Managing the sale to a successful conclusion is a point of honor and a measure of my professionalism.  When there’s a deal going down I won’t think about anything else.

The reason for this almost paranoid approach is buried in the annals of time, but it’s when I learned at the time a painful lesson.

All of the businesses in the story are out of business now, so it’s ok for me to mention the names.

My prospect, Commercial Ignition, was replacing a Kienzle accounting system.  I’d worked hard to persuade the CFO he should choose my Nixdorf Comet software.

While playing VIP host on the Nixdorf stands at Ceebit my boss called to tell he’d heard from the CFO at Commercial Ignition they’d decided to accept my proposal.

That gave cause for a few beers in celebration

Unfortunately when, back in the office, I called the CFO to organize a contract he told me there had been a change.  Kienzle had called on his boss and offered a discount.  The CEO made the decision and I had lost the deal I’d already won.

From that point on I decided focus on execution and forensic attention to detail are the factors which brings deals in the door.

Assume anything that can go wrong will, and be ready to manage it became my mantra.

That’s why I feel bad when a deal goes South.  I haven’t done my job properly.

How about you?

July 16th, 2009 - Posted in Sales Coach  |  Add a Comment