Even though the very nature of sales has no certainty, we all wish all our opportunities closed. Back to the real world, it’s important to pay attention to the warning signals of a deal going bad. It saves you time, energy and improves your mental stamina for the deals that will close. Any of these events should make the hair on the back of your neck stand up:
1: The decision making process changes.
Up to now your contact assured you that he made all the decisions. Now he has to send it up some flag pole. Then some mysterious ‘other party’ needs to get involved. If you don’t know how a boomerang works, then cede these deals to the lost pile.
2: Contact with other decision makers is eliminated.
The classic decision maker challenge ‘don’t go around my back’ approach. He’s hiding something he doesn’t want you to know. I don’t know anybody who has closed a deal under this condition.
3: The budget mysteriously changes, stalls or evaporates.
The budget is king. Do what everyone does: follow the money. If the money isn’t there, neither is the sale. This happens a lot when prospects are ‘shopping’ for numbers rather than buying. Pay attention to the subtle differences.
4: Submarine Contact Status.
All of a sudden your contact is like a submarine buried deep in corporate seas. He’s hard as hell to get a hold of and when you finally contact, it’s empty of firm commitment talk.
5: Cooled their heels.
What was once a needed necessity, ‘just couldn’t live without it’ proposition has now been regulated to the freezer. Reasons could be the budget, tire kicker, decision maker and or all of the above working against you. Somewhere a 180° turn was made leaving you, like the woolly mammoth, frozen out for eons.
6: Pricing Dilemma.
Usually follows in line with Budget Dilemma. Now your quality, performance, reputation and other value add components end up on the bargain basement-warehouse outlet shelf.
7. New Competitor just ate your lunch.
Out of nowhere the client throws a new competitor into the proverbial punch bowl. They’re fabulous, have a great edge etc. Often it’s not even close to the track you’re on. The customer is onto their next biggest and brightest idea and your yesterday’s bologna sandwich.
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