Very few of the salespeople I have encountered enjoying walking away from a deal. As a result, they end up working a languishing deal until it has completely fallen apart (and they have wasted a lot of valuable time).
Here are 11 warning signs it might be time to walk away from a deal:
- Your prospect gives you excuses such as “We haven’t got to it yet,” “We’re still considering your proposal” or “We’re still thinking about it.”
- Your prospect keeps telling you that he/she is the decision maker while refusing to make a decision.
- Your key contact no longer responds to your emails or voicemail messages.
- The company starts making unrealistic demands for discounts or other concessions.
- Your prospect refuses to engage in a meaningful dialogue early in the sales process and demands a quote or price sheet instead.
- You cannot speak directly with the person who will ultimately sign off on the deal.
- Your prospect keeps reducing the size and scope of his/her commitment.
- Your prospect refuses to commit to any next steps.
- The company expects you to compete and submit proposals.
- Someone at the prospect’s company begins behaving in an unethical manner.
- Your champion has limited influence within his/her company.
It’s never easy to walk away from a sale, especially if you have invested a significant amount of time on it. However, doing so can free up time to work on deals that have a higher likelihood of maturing to fruition.
The key is to recognize the signs and be prepared to cut the ties before you have wasted your time.
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