Neediness is the biggest killer in sales
More deals are lost and bad deals signed through neediness than any other single reason.
The buyer is seen by the seller as “the prize”.
They have the ability to generate a purchase order or sign a letter of intent, they have money and the salesperson or business wants it.
And businesses will do what it takes to get it.
The sales person is the dependant party in the negotiation.
Prepared to give, to compromise while the buyer takes everything they can.
And tough negotiators are expert at recognising neediness and creating it
and once they have… BAM! They swing the axe with changes, exceptions and demands for concessions.
Neediness is the biggest killer in sales today.
So how can you eliminate neediness from your business?
Be willing to walk away
Walking away from a business deal is extremely powerful and shows your potential client that you are only there to do a deal that works for you.
Human psychology is interesting in business as people tend to chase that which moves away.
To desire that they cannot have.
Get comfortable with walking away when the situation arises.
Avoid discounting
If neediness is the biggest killer in sales the biggest sign of neediness is discounting.
It is like a blinking neon sign you wear around your neck that is highlighting for all to see “I am desperate”
A business deal is never usually about price (there are a few exceptions but not many).
But price is how buyers have been trained to buy. Because no matter what you say it is easy for them to shut down, its too expensive, cannot afford it.
Instead of discounting stand your ground and be willing to walk away.
Master frame control
Frame control is a sales persons most powerful skill which eliminates neediness and puts you in the driving seat in any transaction.
Check out more information on frame control
https://thesalesstrategist.com.au/what-is-frame-control/
Have a full pipeline
It is hard to walk away when you have an empty sales pipeline and you actually have to make the sale to pay for the rent or the wages that are coming due in a few days.
Sometimes in these situations you have to do whatever it takes but don’t expect it to be pleasant.
There will be blood on the walls and it will be yours.
You are at the mercy of the buyer and their charity.
So ALWAYS ensure you have a strong healthy pipeline which gives you the assurance that if you walk away from this deal, you have plenty more to choose from.
The discipline of prospecting
A failure of your business to prospect, to generate leads today will impact your business in 90 days so no matter what you do, get disciplined around prospecting in whatever form that is right for you.
Block off time to prospect daily or multiple times a week
I call it the “hour of power”
No interruptions, just pick up the phone and call.
Set your sales team KPIs around bringing in new leads each week make it a focus and a minimum expectation of the role.
All successful businesses and sales team are disciplined when it comes to prospecting.