Failure is a normal part of doing business. Don't be so attached to the outcome of every conversation! Having a robust and full sales pipeline avoids this trap. There are many reasons that someone decides not to take up your offer and you suffer the Yuck Factor - Failure. I know, it’s easier said than done, not to take things personally, but it’s the truth. Nothing beats a healthy attitude.
Finding the right fit for your product or solution is sometimes half the battle. Remember the cup is not half full or half empty, in fact, it is refillable!
What does Failure really mean?
Failure simply means, “No thanks at this time.” Many people have been told no and a year later, re-approached their prospect only to be told yes! Just goes to show, timing and other factors are always looming over every deal.
Jeffrey J. Fox, best-selling author of “How to Become a Rainmaker” said, “It has been proven that 80% of new business is made on the fifth contact attempt.” Since Jeffrey declared that years ago it has been proven it now takes 8-12 touchpoints to make a sale! A touchpoint can be an email, phone call, a coffee catch up, a text or simply commenting or liking a social media post.
How can NO be the start of a conversation?
Just like the toddler in the supermarket fiercely negotiates the lollies at the checkout counter with his or her mother. The child never accepts the first No as a reasonable or fair response. In fact, the toddler works tirelessly to find another avenue to get a “Yes.”
After much negotiation, sometimes heated debate, the child walks out of the store with a grin as large as the Sydney Harbour Bridge and a sense of victory. No was never going to be acceptable. I am certainly not suggesting that you get in heated arguments with your potential customers. But, finding another way for them to see your point of view at times could be advisable. It’s your job as a sales pro to educate your buyer.
Whilst you may feel this story about a child using their powers of persuasion is unrealistic in business your fierce competitors are always seeking another way in. Even when no was the first response. It is what you do with failure that makes you unstoppable.
What do top performers do?
Often ambitious salespeople will research all the stakeholders in the business of interest. They will identify who is a blocker or who is an influencer. Identify who they will form alliances with or other companies or individuals. They will seek opinions from other respected professionals on avenues to get the attention of the decision-maker. Often exhaust every avenue to reach their prospect.
This may require attending a networking event where they know the person of interest will be. It might be having conversations with the gatekeeper seeking help on the best method of communication to reach your target!
What more can you do?
With so many communication platforms, I suggest exploring them all. You can choose to phone, email, text, LinkedIn message or attend a networking event or conference. Keep open to new ways of starting the conversation and doors will open.
If you have a mutual connection, ask for a referral. Nothing beats human connection and more touchpoints to continually build the relationship the better.
Quite often people say, “No” as it’s the easiest response. If they say, “Yes” it changes the status quo. This can be frightening to the decision-maker especially if they already feel overwhelmed. Saying yes, ultimately, means they have to do something different and it creates work.
The KISS principle - an acronym standing for "Keep It Simple, Stupid!"
Keep your conversation simple. A confused mind will never be able to make a decision. Clarity equals CASH!
As human beings, we are conditioned to say No. If you don’t create a need you will never get a sale! Place the focus on long term benefits. Take the focus off the short term challenge by placing it in the long term benefit. Create an opportunity that your prospect can grow into not an expectation to live up to!
In other words, failure is the one thing people dread. Taking the leap of faith and saying Yes, seems just too dangerous even when it is the right thing to do. It’s your job to make your prospect feel “safe”.
What does Mental Simulation mean?
Mental Simulation as outlined in the Number One Bestseller, the Personal MBA by Josh Kaufman says, “Mental Simulation is our mind’s ability to imagine taking a specific action, then simulating the probable result before acting. Our minds are constantly trying to predict what will happen in the future, based on what’s happening around us and what actions we’re considering. Anticipating the results of our actions is a significant advantage: it dramatically enhances our ability to solve novel problems.”
The only problem is often, the probable result in the blink of an eye, is snap judgement: “Bad Idea!” Our ability to make assumptions and usually the wrong ones is extremely powerful and versatile. Our brain is always leaning towards the worst scenario.
In Conclusion
Therefore, as a result, nothing puts out the fire to succeed faster than thinking about failure! Get rid of this negative emotion, it’s a waste of time and won’t get you where you need and want to go.
Above all, you will note, I have quite a bit to say about this topic and that’s because fear dominates our ability to do the things we really need to DO to succeed!
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