“I believe that rejection is a blessing because it’s the universe’s way of telling you that there’s something better out there.”
– Michelle Phan (b. 1987), American entrepreneur, YouTuber*, founder of Ipsy
*Don’t judge me because I quoted a 32-year-old YouTuber — success knows no generation or gender, and she’s crushed it, raising over $100 million to start Ipsy…
For generations, salespeople were taught to hate “No!” No deal was ever really dead, and some people built sales training empires on “closing skills,” and “getting past “no”.
Instead of marking a deal “lost” and moving on, there was an addiction to hope, to maybe. There is no better illustration than this moment.
For professional sales people today and for the last 20 years there are two critically fundamental truths:
- A fast no is better than a slow maybe.
- Our goal is to play less often and more-better.**
**“More-better” is a technical term here at The Heston Group…
There’s still only 24 hours in a day. What is our most valuable asset? Time. Period.
So, let’s don’t waste it on deals that will never happen.
Be honest with ourselves and the prospects. Shoot straight with our bosses and others we count on. Ask the hard questions early and often. “What problem are you trying to solve?” “What kind of budget will you have?” “Are you planning to make a change to a new provider, or is this more of a due diligence exercise?”
“Ohmigosh,” you might be thinking. “What if the deal dies right then?”
It was never a deal. Never.
Let’s play these out…
“We’re trying to find a provider that can deliver custom work in 72 hours notice at a rate 30% less than we’re paying ABC Corp.”
“Hmmmm, are those absolutes? Because if they are, we’re not going to be a good fit. Quality and speed come with a real cost, and we’re not willing to sacrifice on quality, or sell below our costs.”
“Our budget is $10,000.”
“How did you set that amount? Is that a hard and fast cap? If it is, we should save each other some time. Our entry-level packages start at $21,000, and most of our clients choose value-adds that get them up in to the $28,000 range. They love the results, and their ROI is compelling for them, but I don’t want to waste your time by asking you to triple your spend….”
“Our board makes us review every contract in a five-year window. We’ve been with XYZ Corp for 27 years, and I still vacation with Joe from XYZ. They’re not as solid as they used to be, but I really just need to verify that I’m getting a fair deal.”
“Man, that puts you in a tough spot! Your board wants you to engage with companies even though you have no intention of changing providers — and that is an engagement that we (you and all of us on the sell-side) simply don’t have time for. What number do you need to “check the box?” That way you get what you want, and I get what I want, which is time to engage with people who are really serious about maximizing value. I’ll keep in touch, and at some point, let’s sit down and really take a look at ROI and maybe what you’re missing out on with Joe and XYZ.”
There are 12,231 more examples, and many of you know I could role-play for weeks without getting tired of it….but that would be an awful blog post.
The point? Fail fast. Mark that deal “lost” in CRM. Move on to the next one. If they get serious somewhere down the road, open up a new opportunity.
In every engagement, someone says, “Our sales cycles are too long. Heck, they average _______ days.”
Easy fix. Close all the deals that died months or years ago, and only work the ones that you can win. Not only with the cycle time come down, the closing rate goes up, morale improves, you make more money and the clients are happier.
What you sell has value. Spend time with the people that will see that value, and wave goodbye to the tire-kickers / due diligence box-checker and window-shoppers.
A fast no is better than a slow maybe. We can deal with no. Maybe is a black hole. Play less often and more-better. Feel the energy that comes from really having a chance, unlike Jim Carrey in the movie!
For sales, strategic planning, recruiting or leadership development and coaching, contact The Heston Group today.
Tim says
I need to read this at 8 .a.m. every day.
Steve Heston says
Well, 9:02 is the earliest I can get it to you, Timmer! That said, thanks for the support. Basics, huh? Funny how they can become un-basic if we don’t tend to them!