How to Know if You Are Chasing Good Business or Bad
This isn’t a “selling during the Pandemic” question, this is a question that Sales Leaders and Sales professionals have asked themselves LONG before the past few months. The challenge is this: it is now magnified. Many sales leaders have instituted a “don’t lose a piece of business on price” or a “get every piece of business you can” plan with their teams. Is that our only option? Of course not.
The question is this: How do we know if we are chasing good business or bad? Here are 4 key elements to qualifying a sales opportunity and ensuring your company is bringing in the right business:
- Are they sharing information they don’t have to share?
Too many times traditional sales reps believe a prospective client is showing “buying signals” when they ask a lot of questions - (not to burst your bubble, this is typically a precursor to getting caught in unpaid consulting) It is more about what information and how much the prospective client is sharing and not how much the sales rep is sharing.
- “Good question”, “Never thought about that” , “I don’t know”
These are typically indicators of a potential good piece of business. Why? Reps are helping the prospect realize/discover/uncover items they haven’t uncovered for themselves. When this happens credibility increases and commitment starts to rise.
- The move from "nice to have" vs "need to have"
Can your prospects live without you? Is doing nothing an option for them? Many reps struggle with this regardless of industry and many companies are a "nice to have" in the first place. "Nice to have" means “if it is convenient and you have time to implement”, whereas "need to have" means “we will find a way to make it happen."
- Who convinced who more?
Many traditional reps believe it is their job to convince people to buy. Really?? A good piece of business is one who convinces the rep why they want help, why they want it now and why they want it with their company. The more convincing the rep does the higher expectation the new client has down the road. Remember the golden rule “when people are sold they look for more ways to make their decision wrong, when people buy they look for more ways to make their decision right.”
Whether it is now, 6 months from now or 6 years from now, the question for your company to ask is, “are we chasing good business or bad?” Chasing bad business is exhausting, not only during the sales process, but after the sale. There is plenty of good business out there, is your company and your staff skilled enough to win it?
For more information regarding this topic or if you have any questions or comments surrounding other sales topics, reach out to one of our Lushin Consultants, today! We are happy to help.