5 big mistakes that will kill a deal are:
- Not meeting the client’s expectations
- Mishandling a client crisis
- Taking on more than you can handle
- Putting all your eggs in one basket
- Up cash creek without a paddle
Any one or a combination of these can not only kill the partnership but can take down your company as well. We’re going to take a bit of time to talk about each of these; in this lesson, we’ll cover the first two.
Not Meeting Client’s Expectations
You must give your clients exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.
A couple of things could have contributed to this problem:
- Bad salesmanship. This could mean the salesperson was trying too hard to seal the deal and didn’t listen to the client’s needs.
- Lack of communication. This breakdown occurs between the salesperson and your operations department.
To avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:
- Think before you speak.
- Give yourself a break.
- Perfect your process.
- Pre-format over-deliverables.
- Stay hands-on throughout the entire process.
- Define success.
Mishandling a Client Crisis
Crises will happen, but how you respond and fix them will define your company and interaction with your clients. You need to react quickly and effectively. This will help you gain even more trust and confidence from your client.
Some simple tips can help you deal with any client crisis:
- Take responsibility and apologize, no matter who is at fault.
- Act swiftly and effectively.
- Step in and take control of the situation.
- Never point fingers or place blame.
- Stay in constant communication with your client.
- Stay calm throughout the situation.
- Keep your eye on the ball.
Now that you know the top two mistakes you can make to kill a big fish deal, you’ll know better how to avoid making these mistakes in the first place and learn how to put a plan of action into place in case of a crisis.
If you need help with any of this, don’t wait, email me at email@example.com.
Next time we’ll talk about the 3rd and 4th killer mistakes you can make in working with big fish clients.