How To Forget About WHY You Lost The Sale

Written by Sean McPheat | Linkedin thumb

2 March, 2012

It is tempting sometimes, to want to wallow in pity, anguish and self-doubt after losing a big sale. As a professional sales person, you want to know WHY you lost the sale. You also want to know what you could have done better. The questions go through your head:

1. Was my discovery period good enough?
2. Did I uncover the problems?
3. Did I do a good sales presentation?
4. Did I address the true objections?
5. And so on, and so on.

What Did I Do Wrong?
Often, the first thought is if you could have actually closed the sale. In which case, that would mean that you did something wrong. The usual fair is to try to find some “fault” as to why the prospect did not buy, even though the objection may be clear. I mean, come on; you closed other sales when the prospect had that same objection…what happened here?

Stop The Stinkin’ Thinkin’
You cannot allow such thoughts to linger in your mind. Yes, you have to look at the situation and make sure you did what you know you are supposed to do. However, after that, you have to let it go and forget it. Yet, we all know that is easy to say, but quite difficult to do.

Let It Go
Here are a few thoughts to help you let it go.

#1 – Check the List
Have a checklist of the things you nForget About Losing The Saleeed to do to ensure a successful sales interaction. Then at the conclusion, go over that checklist. Did you accomplish all the things that you should have accomplished? If the answer is yes, then forget it; you did your job and know that the law of averages, the science of selling predicts that some will not buy anyway. If the answer is no, meaning that you did not satisfy your sales interaction requirements, then vow to do better on the next one.

#2. Understand What Really Happened
You lost the sale and the thought is that you lost a huge commission. However, that is not true. You have to consider your overall closing average along with your sales commission average. If you do this, you will find that you may generate the big check when you close, but it took several attempts to earn it. In other words, if you earn an average of £1,000 on a sale, you may see that it takes you five closing attempts to make that sale. Therefore, in essence, you really only earn one fifth, or £200 per sales interaction. You did not lose £1,000; in fact, you actually earned £200!

#3. Flip the Coin
Finally, remember that numbers and the law of averages play into this. There are a certain amount of people who will buy and who will not. Your closing average reflects this, plus your ability. However, no ability will close 100%. So, no matter what, you will have a certain number that will not buy…period.

Now, look at flipping a coin. You know that the chances it lands on heads or tails are an equal 50/50. If you where flipping a coin and the coin landed on heads three times in a row, would you stop and try to figure out WHY?

Think about this. Would you begin to think, “Maybe my thumb was a little slanted to the right so that is why it landed on heads…” Or, “Perhaps there is a flaw in the table…” Of course not. You would simply chalk it up to the law of averages.

Well, sometimes you have to look at the sale like that. There is nothing wrong. It is just in the numbers.

Now, go out and put in more numbers!!

Happy Selling!

Sean

Sean McPheat

MTD Sales Training | Sales Blog

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