I Fired a Prospect Today. Yep.


It may seem completely counter-intuitive. I’m the sales rep.  I’m supposedly the person who never met a deal he didn’t like. The one who will drag our company’s resources through any unqualified pursuit to the bitter end – all the while golfing, wining, dining and fretting away the company’s resources – or so legend has it.

So why did I do it? Why did I let this deal go?

1. It was the right thing to do for the prospect: Our stepping back was the most transparent and powerful message my firm could send the client. We know the right way to do this engagement, and we are not going to compromise your success or our reputation by short-cutting.

2. It was good for my business. Here’s a question: What is the WORST hand in poker? The SECOND best hand. That’s the player who stays in, doubles down, fattens up the pot (drives up their cost of sale)…and then loses.

3. It will free up precious time. Let’s face it, time is more valuable than money at this point in your life. You only have capacity for x number of deals per year. This client will take all the time and information that you offer, but they are not going to buy at your solution/scope/price. What is the opportunity cost to you for not spending that time on other opportunties?

4. It was good for my psyche. Training/re-training yourself that not every deal is a good deal is an important lesson to learn and reinforce. Nothing is more powerful than the will to walk away. It’s good for your sense of self as well as your ability to offer more objective counsel to your customers going forward.

So (never thought I’d say this…) what are you waiting for? Go out and fire a prospect today!

Advertisements

6 thoughts on “I Fired a Prospect Today. Yep.

  1. Kelley Robertson

    Great post, Tim.

    Too many sales people waste valuable time, effort and energy chasing prospects who aren’t going to buy or who aren’t the right fit.

    Good reminder to everyone in sales.

    Reply
  2. Shannon Huppin

    Fantastic information and so true. Most folks have to experience this phenomenon before the realization hits but you’ve put in a great, succinct form which should be gold to those reading it.

    Reply
  3. Bruce Ellis

    Thanks for concise, but so valuable advice…

    95% of all Salespeople do not buy into your advice and will go on chasing every opportunity they can find.

    A big reason that only 5% will be the best of the best.

    Cheers

    – Bruce

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s