Top 10 lies that sales reps tell themselves


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Top 10 lies that sales reps tell themselves

  1. Top 10 Lies That Sales Reps Tell Themselves
  2. LIE #1: I’m pretty sure the customer has a budget. <ul><li>Why It’s a Lie: Budget is either allocated or it’s not. </li></ul><ul><li>The Real Truth: You haven’t fully qualified the lead. </li></ul><ul><li>What Results: You spend time and effort on an account that probably won’t close. </li></ul><ul><li>Your Reality Check: Confirm that a budget exists before expending much effort on an opportunity. </li></ul>
  3. LIE #2: My pipeline consists only of fully qualified opportunities. <ul><li>Why It’s a Lie: Chances are there are some dead ducks in your pipeline </li></ul><ul><li>The Real Truth: Until you develop an account, you don’t really know if they’re qualified or not. </li></ul><ul><li>What Results: You consistently over-estimate what you’ll be able to close. </li></ul><ul><li>Your Reality Check: Weed out your pipeline on a regular basis. </li></ul>
  4. LIE #3: This is a qualified lead even though they have no budget. <ul><li>Why It’s a Lie: If they don’t have a budget allocated, they’re not qualified. </li></ul><ul><li>The Real Truth: You’re so desperate that you’re working the long shots. </li></ul><ul><li>What Results: You live in a fantasy world where budget magically appears. </li></ul><ul><li>Your Reality Check: The moment you know that there’s no budget, gracefully extract yourself from the “opportunity.” </li></ul>
  5. LIE #4: I keep all my important customer notes in my head. <ul><li>Why It’s a Lie: You don’t have a photographic memory. </li></ul><ul><li>The Real Truth: You’re too disorganized to write them down. </li></ul><ul><li>What Results: Things start falling through the cracks. </li></ul><ul><li>Your Reality Check: Get an note Pad and take notes during meetings/calls. </li></ul>
  6. LIE #5: Cold calling is bad way to generate new business. <ul><li>Why It’s a Lie: If it didn’t work, no one would ever use it. </li></ul><ul><li>The Real Truth: You hate cold calling because you’re lousy at it. </li></ul><ul><li>What Results: If your pipeline dries up, you’re out in the cold. </li></ul><ul><li>Your Reality Check: Keep your cold calling skills current, even if you don’t currently need them. </li></ul>
  7. LIE #6: That customer will probably make a decision soon. <ul><li>Why It’s a Lie: You’re just guessing. </li></ul><ul><li>The Real Truth: You haven’t found out how the customer makes decisions. </li></ul><ul><li>What Results: Your forecast and quota get completely screwed up. </li></ul><ul><li>Your Reality Check: Always find out how the customer buys, and then periodically check on the progress of that process. </li></ul>
  8. LIE #7: I lost that deal because we didn’t have feature XYZ <ul><li>Why It’s a Lie: Customers seldom buy (or not buy) because of a feature. </li></ul><ul><li>The Real Truth: You failed to show how your current product has value. </li></ul><ul><li>What Results: You never learn why the customer REALLY didn’t buy, so you never correct the problem. </li></ul><ul><li>Your Reality Check: Dissect and debrief every failed opportunity to discover what you should have done differently. </li></ul>
  9. LIE #8: I haven’t called that customer, but I’ll call later. <ul><li>Why It’s a Lie: Customers are always the top priority. </li></ul><ul><li>The Real Truth: You’re putting it off because you’re afraid of bad news. </li></ul><ul><li>What Results: You end up making things worse by ignoring a problem or keeping an opportunity live when it’s really dead. </li></ul><ul><li>Your Reality Check: Whenever you feel reluctant to make a call, that’s a signal that you MUST make the call RIGHT NOW! </li></ul>
  10. LIE #9: I lost that deal because the price was too high. <ul><li>Why It’s a Lie: Buying decisions are only made on price for commodity products. </li></ul><ul><li>The Real Truth: You failed to differentiate yourself from the competition. </li></ul><ul><li>What Results: In future opportunities, you let yourself get sucked into a price war. </li></ul><ul><li>Your Reality Check: Find out what’s important to the customer and position your current product so that it uniquely satisfies those needs. </li></ul>
  11. LIE #10: I’ve been so busy, that I can’t follow up on all my commitments. <ul><li>Why It’s a Lie: Selling is all about following up on commitments. </li></ul><ul><li>The Real Truth: You’re probably in the wrong line of business. </li></ul><ul><li>What Results: You end up with angry customers and angry management. </li></ul><ul><li>Your Reality Check: Immediately (I mean RIGHT NOW!) locate and purchase a time management system, take the time to learn it, and then use it until it’s second nature. </li></ul>