Know when to walk away from a prospect
Successful selling requires personal attributes and skills — and perseverance and optimism are absolute necessities. That’s because as top sellers generally find more opportunities, they also experience more obstacles and rejection.
But as valuable as perseverance and optimism are in overcoming barriers and rejection, they may hinder greater sales success. They may cause one to spend too much time and energy pursuing prospects who are unlikely to buy.
Do you know when to walk away? Great negotiators know where to draw the line, and great sales people know when to move on. Keep a few parameters in mind to help you judge whether to stay or walk away.
Review how well you have qualified the opportunity
Is it a need or just a want? What evidence do you have to support the need? Buyers may say they need something when they really mean to say they want something. You probably have a long list of wants, but what you really need takes priority.
Prospect needs can be fluid and are at risk of changing often and quickly. It may be time to review why the potential buyer needs your offering. You can judge the buyer’s urgency by the degree of the problem they’re asking you to help solve. Impact can be personal (emotional), financial (a cost or gain) or strategic (affecting others).
Review the prospect’s case carefully and ask yourself if you’re hearing the right things. Your optimism may cause you to hear more commitment than is being made. Most decision makers have many projects, initiatives and budget requests with varying degrees of importance. Did you ask what the priority of your opportunity is?
