Written by Sean McPheat |
Closing the BIG sale, the huge month or even year changing opportunity, is a great thing.
However, focusing too much on selling that whale of a prospect can cost you more money than you earn, IF you finally close the deal.
Please don’t misunderstand me.
I am an advocate of going after and securing the huge career-making client.
Yet, you must be careful not to develop a “tunnel-vision” focusing ONLY on such prospects.
You have to have a clearly defined target market and prospect model, and go after all of them.
Here are just a few reasons why and how becoming a single-minded big-deal-hunter can hurt your career. (Forgive me for using a few old clichés here, but they fit.)
All Your Eggs In One Basket
In this case, the age-old term could not be any more applicable.
It is better to have a sales pipeline that consists of lots of varied sized sales opportunities, rather than just a few large ones.
When your month depends largely on one or two big sales, you risk too much even if the probabilities of closing those sales are good.
Miss Low Hanging Fruit
When you focus too much attention on the big deal, you will invariably overlook smaller sales that are often easier and faster to close.
Those easy, obvious sales should be the foundation of your sales funnel.
In addition, focusing on the higher-level sale will often cause you to overlook the buyer’s needs, while trying to satisfy your own desires first.
Bread & Butter
By bread and butter, I am referring to those average sales.
If you consistently close what is considered the “average” sale, earning the average commission, and you do it just a bit more than the average amount of times, you will be anything but an average sales person and you will earn substantially more than the average wage.
A Bird In The Hand…
When you are big deal focused, you are also prey to the lure of the Big Deal Promise.
That is when that prospect begins to tempt you with the promise of making that gigantic purchase, with one caveat… they are not going to buy now.
Rather than opt for the smaller, introductory, stepping–stone type sale to get the relationship started, you are apt to believe the, “Come back tomorrow or next month and I’ll buy…” classic stall.
Qualify your prospective clients to the best of your ability according to what you sell.
Then give every sales process your absolute best effort, and the big sales will come.
Originally published: 25 September, 2017