Risks in sales – Your Competitive Position
Risk: Your competitive position.
Your company’s competitive position could change dramatically, something that can put every one of your sales opportunities at risk.
Your company could have been a market leader. Then, due to mergers, acquisitions, and innovations from new, upstart competitors, your company could suddenly be beaten in the market on a regular basis. Your stable, proven solutions could be outsold by another supplier’s bright, shiny new toy that is getting favorable publicity in the marketplace.
It happens all the time.
Have you heard of Visicalc? Well, seemingly back in prehistoric days, Visicalc was introduced as the first electronic spreadsheet program. It was wildly popular for a few years. Then, Lotus 1-2-3 was released and rapidly became the market’s dominant spreadsheet program, a position it retained for many years. But then Microsoft released the Excel spreadsheet application and combined with its Office portfolio, overtook Lotus. Now, Excel is the dominant application for electronic spreadsheets… both Visicalc and Lotus 1-2-3 are defunct.
No matter where your company and your solution rank in the marketplace, changes in the marketplace, in technology, and in customer preferences present threats that are beyond your control.
As the competitive position of your company and your solutions change, these significant threats challenge the health of your sales opportunities… and that threatens your sales career.
I’m DJ Sebastian, and we’ll continue our discussion on the risks of a sales career in the next briefing.