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What are you afraid of?
The fear of losing a sale that has
yet to be completed has prevented many salespeople from asking
the questions that needed to be asked and doing what needed to
be done to actually close the sale or discover that the
opportunity didn't really measure up and then close the file.
When the selling process starts to drag on -- a prospect doesn't
follow through with a commitment or otherwise stalls the process
-- salespeople need to be assertive and address the issue with
the prospect. Often, however, the fear of alienating the
prospect and destroying any opportunity to close the sale
prevents them from taking the requisite action.
You can't lose a sale you haven't completed. The only thing you
risk by addressing the prospect's delaying tactics is uncovering
the truth. And, if the truth is that you're not going to close
the sale, isn't it better to know sooner rather than later?
What drives the fear of losing a sale you
don't yet own?
Psychologists say that one cause of
such thinking is having a "scarcity" mentality. People with a
scarcity mentality believe that there is not enough to go
around; real opportunities are lacking; and you must seize every
opportunity lest someone else will seize it. Can you see how
such thinking would cause you to hang on to dubious
opportunities longer than appropriate and avoid behavior that
might reveal the true value of the opportunity?
Where does such thinking come from? Typically, from early
childhood programming -- the messages you received from your
parents and other authority figures from the time you began to
walk until mom and dad sent you off to school. You may have been
told to count your blessings. Not bad advice, unless it was
followed by the admonition to do so, because they are few and
far between. Were you told, a penny saved was a penny earned and
money doesn't grow on trees? What was the real message behind
those teachings? The word "hoarding" comes to mind. Isn't that
what you are doing when you won't let go of a prospect who
doesn't measure up?
Were you told that life is a contest or a struggle? The
implication behind that message is that you are either a winner
or a loser. If your actions are guided by that type of thinking,
letting go of an opportunity, even a poor quality opportunity,
means that you lose and someone else, perhaps your competitor,
will win.
Another element that drives salespeople's fears and causes them
to hang on to poor quality opportunities longer than they should
is the realization that they will have to replace the prospect.
Some salespeople will go to almost any length to avoid
prospecting. For many, the perceived pain of prospecting is
greater than the pain of hanging on to an opportunity that has
stalled.
Pay me now or pay me later.
Do you remember the old Fram Oil
Filter commercial? The mechanic, dressed in grease stained
overalls is standing in a junk yard next to a car with a burned
out motor. He is holding a Fram oil filter and says, "You can
pay me now, or you can pay me later." The message of the
commercial was: you could pay the small price now -- getting
your car's motor oil changed at the recommended intervals (and,
of course, using a Fram oil filter) -- or you could pay the
bigger price later -- having your car motor rebuilt due to the
excessive wear caused by the lack of regular oil changes.
If you've been in the stalled sale situation, then you know that
eventually the balance tips in the other direction and the real
pain of prospecting is far less than the pain of continuing to
pursue an opportunity that is going nowhere. So, you can pay the
small price now -- prospecting -- to replace the poor quality
prospect. Or, you can pay the big price later -- wasted time and
energy, frustration, disappointment and, of course, no sale --
and still be left with the need to prospect.
Whether it's out of fear that there are no other good
opportunities available (which, intellectually, you know isn't
true), or the fear of prospecting to find one (which you'll have
to eventually do anyway), can you think of any good reason to
continue to pursue an opportunity that isn't moving forward? The
next time you are in that situation, picture the mechanic
holding the oil filter and remember his words, "You can pay me
now, or you can pay me later."
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