You’ve spent hours perfecting your pitch and networking to get the job. Now it’s time to close the deal. You meet the client, sign the contract, and you feel like you just won the lottery. It all seems to be going great until… You realize something isn’t right. 3 Mistakes That Can Cost You a Deal and How to Avoid Them
Your new boss is never around when you need her, she makes hundreds of demands on your time that don’t add up, or there are always surprise costs associated with your projects. Did you know that a lack offenses can cost you $1 million a year? The thing is, we all make them! It might not look like it at first but every once in a while we all get it right and our business starts booming because of it.
But, as humans, we make mistakes , Mistakes That Can Cost You a Deal and How to Avoid Them . Also in sales mistakes can happen – Mistakes That Can Cost You a Deal and How to Avoid Them, but they can cost your company a deal or hurt your valuable relationships with your customers. Buyers have a lot of options when deciding on which products and solutions to choose to meet their needs. A bad relationship or experience with your company could mean your customers choosing your competition over you.
What are Mistakes?
The idea of a mistake is something that everyone understands. A mistake is when you do something that you know is wrong, for example, crossing the road when you know you shouldn’t. The definition of a mistake, though, is slightly different. A mistake is something that goes wrong, whether it’s in your work, your private life, or both. There are many situations where mistakes can be costly.
For example, a bad pitch and a missed opportunity to close a deal can both cost you a lot of money. Mistakes That Can Cost You a Deal and How to Avoid Them, However, there are also mistakes that can cost you a lot of time, energy, and even opportunity. If a mistake is made in judgment, then it may not cost you anything at all. However, if a mistake is made due to negligence, then it could cost you a lot.
Here are 3 Mistakes That Can Cost You a Deal and How to Avoid Them
1. Bad Pitches Get You Hired
When you’re trying to get a job or make a new business opportunity work, it’s important to your success to get the job or opportunity. You don’t want to waste a great opportunity because you didn’t take the time to prepare properly. Pitches that don’t get you the job you want can be considered bad pitches and can cost you opportunities, time, and money.
There are a number of reasons why a bad pitch can get you hired. Here are a few: You miss the mark. You didn’t adequately explain why your product or service is better than the competition’s. You were in a hurry to get the information and didn’t take the time to explain things well. You were unsure of yourself and your product – This can show in your tone when you talk to potential customers.
2. Networking Mistakes Cost You Big Deals
There are many situations where it’s not the mistake itself that costs you the deal. Rather, it’s the way you handle the mistake that can cost you the deal. You see, when someone is hiring for the first time, they’re not looking for an expert. Mistakes That Can Cost You a Deal and How to Avoid Them , They’re looking for someone who can help them out with whatever task they have. If you show up with a lot of questions, wrong answers, and an unclear idea of what you’re doing, you might not get the job.
First, you must plan and define what the goal is. I’m sure you are saying “What? Why can’t I just plug in a router and switch? They should take care of everything, correct?” That is partially correct. Most routers can do a decent job of handling basic network information. Mistakes That Can Cost You a Deal and How to Avoid Them
Mistakes can be a sign of impatience or over-thinking. If you hesitate before answering a question or make a mistake when you’re supposed to be perfect, then people will notice. This will show up in your tone and your body language. People will notice if you’re annoyed or stressed when you answer the phone or make a deal.
You don’t want to let people see this because then you’re not being transparent and honest with how you feel. Mistakes That Can Cost You a Deal and How to Avoid Them You may not realize how you’re handling things which can make you look even worse.
3. Costs Are Hidden In Plain Sight
We all make mistakes. Some are very small and unintentional, such as not paying attention to a situation when a button prompt is supposed to be on your side of the phone line. Others may be larger and more problematic, such as accidentally deleting a file or filling out a survey with a wrong answer. However, many of us don’t realize the impact of a mistake until it’s too late.
Interest rates are the standard method used to communicate price of credit to consumers. And for some popular credit instruments, such as credit cards, it is the primary price disclosure available to consumers at the time of purchasing and borrowing that enables the calculation of
credit cost obligations.
Once you catch a mistake, there’s no way to fix it. However, it’s also very important to address it before it causes any problems. Mistakes That Can Cost You a Deal and How to Avoid Them , If you notice that you’ve made a mistake and you know you can fix it, then instead of covering it up or denying it, simply address it and fix it.
4. How to Avoid This Sales Mistake?
A perfect strategy will prepare your sales teams to do the proper research BEFORE getting on a call with a prospect. Mistakes That Can Cost You a Deal and How to Avoid Them , For example, have instructions for your sales teams to research the prospect on LinkedIn. Or, have your sales team align products or services with the perceived needs of the company based on the prospect’s website or digital channels.
Encourage your sales reps to spend more time listening to their customers’ needs during the call instead of overselling the product. Mistakes That Can Cost You a Deal and How to Avoid Them , Bonus: equip your teams with some pre-planned and helpful questions that encourage your customers to keep talking.
This important insight can help refine your sales pitch for this customer and others like them. By digging deeper into the objections, sales teams will see that they can provide alternative solutions to meet the needs of the customer.
Conclusion
Remember, no matter how experienced you are in business or how much money you’ve made, there will be times when you make mistakes. Even the best people make — sometimes! However, the thing is, when you make mistakes, you can learn from them and prevent them from happening again.
