The executive sat there staring at me while I thought about his question. I didn’t have an answer. His question was about the financial structure of our deal. I didn’t see any problem with structuring the payments by his request, but I didn’t have the authority to make that call. I’d have to run this by my boss for approval. I responded by saying, “I don’t have that answer right now. Can I get you a response by Friday?”

I knew my response didn’t sit well with the VP when he shot back, “I need that answer right now! …or this meeting is over.”

Ouch.

I made a phone call to get the answer. Even though we agreed to his request. I didn’t win that business. You don’t win ’em all… but it sure feels good when you do!

Over my 25+ years as a sales professional, I’ve had my share of sales wins and losses. But even when I lose a deal, I know I can always look back and find a lesson learned. Maybe there was nothing I could’ve done different to win that particular deal, but maybe I could change my approach in the future. For this experience, I learned to always think through what I’m empowered to negotiate and what I will need manager approval on before I go into any sales presentation.

Here are 7 sales lessons I’ve learned…

1. You’re too focused on your quota

Jokingly I’ve heard it expressed that all salespeople are coin-operated. While we do get paid a commission for retiring our quota, the quota cannot become the primary focus. Why? Because customers can smell it. If they get the sense that you see them only as another notch in the belt as you move closer to your accelerator commission kicking in, they’ll turn and walk… or run!

2. You don’t understand the business need

All customers talk to salespeople because they have a business need. They’re either fixing an issue or they’re building for a brighter future. Either way, their investment in whatever you’re selling is to help their business. I’ve seen too many sales opportunities either lost completely or reduced in $$ size because the salesperson was just selling widgets instead of understanding how the customer was going to use the widgets. Ask about the business need!

3. You don’t know why you won

I had just won a large contract that took 18 months to chase. I was excited about the win and took it to my manager. His first question brought me back to earth quickly. “Why did they pick us?” I could’ve guessed, but I really didn’t know the answer. Obviously they thought we were the best choice, but I didn’t know any specifics. My manager’s point was this, “If you don’t know why they picked you, then how do you expect to duplicate this type of win in the future?” Always find out why you won or lost!

4. You’re not curious

When the customer says something that makes you go, “Hmmmmm.” You need to take note and ask about it! I learned to start labeling anything that made me curious. If it was good news or a potential to increase in the sale, I’d mark it with a $ in my notes. If it was potential hurdle to closing the deal, I’d mark it with a ! in my notes. If it definitely made me curious but I wasn’t sure if it was good news or bad news at this point, I’d label it with a ? in my notes. Question anything that makes you curious and you may increase the size of your opportunity!

5. You’re not familiar with the buyer process

Every buyer makes a decision for a reason. They walk through a mental process of defining a need, searching for potential solutions, analyzing the options, then justifying the final choice (weighing risks), before they make their final decision. This is the buyer process. When you align your actions to help them walk through this process, they feel you’re helping. When you move through your sales process with no concern to their process, you just became the pushy salesperson.

6. You don’t know how to influence without manipulating

The tools of influence and manipulation are the same. The difference comes in the answer to the question, “Why are you doing this?” If the answer to the question is purely a selfish reason with no regard for customer’s needs, you’re manipulating. Stop trying to bend the customer to your thinking. Enter every engagement with a focus on helping the customer solve a problem and your heart will be in the right place.

7. You ask too many closed questions

I’m reminded of this one every time I’m speaking with my teenage kids. I want to develop a good relationship with them by engaging them in conversation. How can I get them to open up and talk to me? Ask questions! So, I start asking questions. “What are you doing tonight? Who are you going with? What time are you leaving? When will you be home?” I’m asking questions, but they’re all closed questions! My kids feel like I’m interrogating them! When I ask more open questions like, “What do y’all talk about? Why do you think so many kids drop out of school their senior year? What do you think are the best challenges to write about for college application essays?” Practice asking open questions to hear the whole story.

I’ve had my share of losses and my share of successes over my selling career. One thing I’ve learned, I can turn anything into a win when I take the time to reflect on the learning lesson in each experience.

Here’s to learning something new!

Best,
Russ

Books referenced in this post:

Cut the C.R.A.P. and Make the Sale, by Russ Peterson Jr.