Words of wisdom for this week.
“It is said that a man who can hold his tongue can hold anything.”
~ Emmett Fox
Sooner or later, you will have to walk away from a prospect or a client relationship that is no longer worth your time, energy, corporate resources or willingness to continue investing in the potential of doing business together. What are the characteristics that could contribute to this decision? Here are a few to think about:
- The potential for additional business just isn’t there.
- The time, energy or corporate resources to keep this sale or relationship active are no longer a good investment of your sales time, or your organization’s resources.
- The prospect/customer continues to try to squeeze more out of you.
- The relationship is no longer win/win.
- The competition will do ‘anything’ (things that are not reasonable or ethical) to get the business away from you because they are desperate or unethical. Your client, as a result expects you to match the competition’s offers. Beware!
- You have lost control of the sales process.
- Everything you try just doesn’t get the prospect/customer to respond to you.
- Your intuition or gut tells you to ‘walk away’ from this one.
- The prospect’s/client’s only interest is the price and they are not concerned about service, quality, or your ability to help them solve problems or grow their business.
- They lie to you or misrepresent facts.
- They delegate the buying process to the bottom of the food chain where no one has the authority to make the buying decision.
- They take more of your time and energy than the sale/relationship/margins warrant.
There are other reasons, but most will fall into the previous 12.
Here are a few questions to consider:
- Are you failing to walk away from any business now you feel you should? Why?
- Are you not walking away from some business for inconsistent reasons? What are they?
- Do you have a walk-away philosophy or strategy?
- Do you have a successful sales strategy that you use consistently to keep the sales process alive and well when the prospect or client forces you into a walk away position?
Keep in mind that selling is about making sales, not walking away from opportunities because you have too quickly made an emotional decision or judgment call based on the wrong reasons. I am not advising giving up too soon, not using creative sales appeals, or terminating the sales process because you may be over your head. I am, however, suggesting that you have a walk-away philosophy and strategy that you can use as a template when the value of current business or potential business is in question. If you want more information on this critical topic, attend my Sales Boot Camp in Charlotte in September. You’ll learn more in one day about how to sell more than in any other seminar available today. I guarantee it!