Planning and Assessing an Opportunity

This has to be one of the most frustrating subjects I encounter in the world of sales. Why do so many sales people simply ‘wing’ their way through deals?

And, surprisingly, when they lose them – they blame ‘price’ or the ‘customer was a mongrel’ – or some other lame excuse. Come on young Padawans, to be successful over the long term, you must have some type of methodology that allows you to guide your thinking and strategy, and helps you plan and assess your progress on every opportunity. It’s a sign of sales leadership – it’s a sign of maturity.

Let me give you an analogy…

In every car I have ever been in, there is this amazing thing called a dashboard. You may have seen them too? As you know, the dashboard has indicators telling us about vital things like engine temperature, speed, oil and fuel levels. Have you seen it too? Yes, that’s right – normally just behind that steering wheel.

When we take our eyes off the dashboard, we can sometimes make mistakes – just like my last speeding fine!! I thought I was doing the right thing, the environment around me didn’t seem to indicate I was speeding – and my wife was merrily talking away like everything was OK. However, if I had paid more attention to the dashboard (and less attention to my wife), then maybe, just maybe, that $350 might still be in my pocket – and not taken by a government department who is going to waste it anyway!!

Now, this is not a parable about marital relationships and whether I should be listening to my wife – but the same thing applies to managing an opportunity. We must have a dashboard that informs us of where we are at. Although many companies seem to have some type way of assessing opportunities, I find very few who use it regularly – or effectively. The strategy seems to be ‘close eyes, aim, fire’ and wish for luck. It just staggers me how many opportunities – how much revenue – slips right through their hands.

Have a look at some of the reasons why salespeople think they don’t have to plan and test their opportunities. I love these. When I hear these, I just want to reach out and hit them over the head with my iPhone – except that I love my iPhone too much and Apple doesn’t cover idiot insurance – even when it is warranted.

‘Don’t have the time’

Hmmm, OK. A little bit of planning before you begin the opportunity will save a lot of time and heartache. Have you ever tried to put something together from Ikea? Only when it goes terribly wrong, do we consider reading the instructions. Or what about using the GPS, or street directory, as another example. How much time would be saved by a quick review before you take off? Checking which roads get there fastest, looking at back streets, short cuts etc etc. Saying you don’t have time means you will end up wasting more time.

‘My boss doesn’t worry about them’

Now, I love this one. As my Dad use to say, ‘if so-and-so told you to stick your head in the oven would you do it?’ I mean come on, there are plenty of poor performing bosses out there, so please don’t measure yourself against them. As the sales person, you have a responsibility to do everything you can to win that business. That starts with planning and testing your strategy. Stop looking out the window at others, and start looking in the mirror. Scary for some of us I know!!

‘Too complicated’

Imagine if you had a reality show TV crew with you for 3 months. You may see how ‘lucky’ a lot of your ‘wins’ are. Just go and do some ‘post-win’ meetings and ask your customer to be open and honest. You will realise the ones you won by luck – more so than great planning. I can guarantee that using the same methodical planning to process your opportunities will make things simpler – not more complex. After a while, you will begin to apply the principles of the methodology you use. You will find yourself asking questions of customers that directly relate to the answers / gaps you need to know. It saves a lot of embarrassing calls back to the customer to check information and fill in gaps. Or worse still – explaining to your boss why you lost the deal – and not really knowing why!!! That is a horrible feeling!! Been there, done that. Don’t want to do it again.

‘I am winning deals anyway’

High performing sales people don’t just measure what they win,but what they are missing out on. This is where the real fruit is. How will you know if you don’t take a critical look? Furthermore, how do you know there wasn’t more revenue in the deal you won?? You will start to see you win more deals, with more revenue than ever before.

‘Needless administration’

Since when has planning and testing become needless administration? What if Captain Cook didn’t plan his voyages from England? ‘Lets just head off from Plymouth, and see where the wind takes us.’ He would probably end up at the North Pole. Imagine the Sydney Opera House with snow around it? Just wouldn’t work!! Needless administration? Or just plain laziness? You be the judge!!

OK, I have let rip there a little bit. What do we do next? Ask yourself some questions?

Are you serious in the way you plan and test your opportunities?

What does your current sales team do in this space? Can you improve it? Can you be the one who makes a difference? You will look like a real leader.

Does your manager coach you through these – if they don’t, give them a verbal slap, or at least a yellow card, and get yourself into it. Don’t settle for mediocrity. That’s what Michael Jackson did when he settled for a chimp called ‘Bubbles’ as his best friend. Too hairy and bad breath.

To finish off, a simple planning and testing methodology does work!! I don’t like processes, but my experience over many, many years in sales, tells me that there is not a better alternative to winning deals – and winning them consistently.

Go forth and conquer!!!