There are many things that impact a sales cycle. Of these, indecision can be one of the most negative. Why?
- it is often only revealed after a long period of time
- often embarrassed about itself, it disguises itself with continuations that, within the sale, create a false sense of momentum
- at the very last moment of the sale, it can strike unexpectedly as the contract clears everyone including legal, but never gets signed
- the dynamic nature of internal and external business conditions heavily influence it.
I’m sure none of this is news to you. So why am I highlighting INDECISION as your biggest competitor? Well, let’s take a look at 2 recent news headlines, and quick summaries of their stories.
China Is Buying Its Way Into the U.S. Economy
“Chinese investors have gone on a spending spree in the U.S. Should regulators be concerned?
“The concept of ‘Made in America’ is slowly giving way to ‘Made by China … in America,’ as Chinese investors are increasingly snatching up U.S.-based companies and assets and raising the eyebrows of some regulators and market spectators.”
Blame costly wars, not China, for poor state of U.S. economy
“It is the US that is responsible for its sluggish economy, given that $14 trillion was wasted on waging war over the past 30 years rather than investing in infrastructure.”
Okay, so which is it? Is the U.S. trade situation with China weakening the US economy, as the first (and numerous other) news stories say? Or is that just not true–it’s really the fact that the U.S. has fought wars that is crippling its economy?
Don’t worry if you find yourself confused by this. So do I!
I bring this up for a simple reason: In a climate like this, how do you make decisions? It’s a bit like riding Space Mountain at Disneyland. If you haven’t had the pleasure, the ride is completely in the dark–until the last second, you don’t know if you are going to go flying up, down or around.
It should be obvious why I say that INDECISION is, in fact, our toughest competitor. What’s the solution? It comes down to whether your salespeople possess the business acumen and skill to demonstrate to prospects the vital necessity of taking decisive action, and the value that comes from it. The only way you can overcome INDECISION is if you are credible, knowledgeable, and can demonstrate that you understand their business, their industry and the constraints under which they operate. With that as a solid foundation, you then work with them to uncover the issues or opportunities that show enough upside or urgency to spur them to action. You must then follow through with efficiency and speed so that INDECISION cannot rear its ugly head and insert itself into the process. .
Vigilance means everything. Go into each sale with your eyes and ears fully open. Watch and listen carefully for the telltale signs of INDECISION. Believe me, it’s lurking there somewhere…