Time Kills Deals
The absolute best time to win a deal is today. Tomorrow is not better. Next week or next month are not better. As time passes, the probability of winning a deal is reduced—slightly at first, more dramatically as time passes.
Why is that? Well, the reason time kills deals is that there are so many things that can go wrong along the way during your sales cycle as you try to advance your opportunity and win:
1) Your customer can get distracted. Priorities can change and required resources (such as legal staff, procurement staff, and executives for approval) might not be available when you need them.
2) The people you’ve been working with at the customer organization might change responsibility or leave the company. What would happen if one of them wins the lottery, or gets run over by the proverbial bus, and never shows up for work again?
3) Customer executives could decide to halt all new projects… They put the hammer down and freeze spending for new initiatives, including yours.
4) Key resources on your team are re-assigned to focus on other key deals and won’t be able to spend time working with you on your deal.
5) Your sales manager informs you that your accounts will be reassigned soon, so to get quota credit and commission payment you will need to complete the deal while you are still assigned to the account.
Always view delays as threats that could kill your deal.
While changes will certainly occur during the sales cycle, you should focus only on what you can control.
That means you should control as much as possible. A good plan of action will help you take that control and stay on track so you can minimize distractions.
I’m DJ Sebastian, for more info on what it takes to become an Elite Seller, visit my website at thetechseller.com