One way to develop your personal sales edge is to assess the potential win and loss in any plan/action you’re thinking of taking.
Some might call this risk and reward, but most salespeople actually face very little risk in most actions they take. If there is little to no risk, why then do most salespeople not take more chances or try new things?
The answer is fear. Not a scared, quaking-in-your-boots kind of fear, but fear of the unknown. The fear that can keep a salesperson from making a cold call, reaching out and asking a potential client why they chose to go with a competitor, or any number of actions salespeople can take to grow their business in a challenging market.
That’s why I like to identify potential Wins and Losses when considering something new. Let me show you how, using the two examples I just gave.
Making a Cold Call
Wins
Referrals
Introduction to someone else who can refer business
Get the person’s next sale and/or purchase
Losses
No returned call or email
Person says they aren’t interested
Person says they’re already working with someone else
Could you live with any of the Losses for the potential of one or more of the Wins? Absolutely! But without identifying the Wins and Losses, the fear of rejection could keep someone from making the call.
Calling a potential client that went with a competitor
Wins
Receive valuable feedback that could help you win more future business
Be in position to win the person back if the competitor falls short
Receive future referrals and potential from the person. (Who now knows how much you wanted to work with them.)
Losses
Ignored
Is hung up on
Told why they didn’t like you
As you regularly do this exercise you’ll see a pattern. First, the Wins can almost always result in additional current and/or future sales. Second, the worst Losses result is your ego taking a hit. I don’t know about you, but I’ll take an ego hit any day to ultimately be more successful in sales.
About the author
Silva Law/QuickSilva CEO Doug Fleener is a former organizational consultant and international keynote speaker who for sixteen years helped thousands of individuals and businesses to improve their sales performance and customer experience. Contact us to learn how Doug can present one of the Success Academy programs at your next staff meeting.
