How to Lose a Business Deal

How to Lose a Business Deal

While nobody likes to lose a deal, losing business can be a valuable experience.  Over the past nine years managing sales teams, most of the great sales people I have managed enjoyed talking about the big deals that they won.  While I enjoy celebrating a win as much as the next guy, I believe that it is as important to reflect on the deal that got away, as much as it is to celebrate the business we won.  Below 5 steps that will help your sales team learn from a loss and prepare themselves to move towards the light at the end of the tunnel.

Motivation, what is your source?

Most people who achieve great things had a negative experience that shaped their motivation.   For instance Daren Hardy, publisher of Success Magazine, started out trying prove himself to his dad.  Eventually when you have had some success, it is time move up on Maslow's hierarchy of needs.   You should increase your motivation with things like helping others or a cause greater than yourself

Be the 1%

Be the 1%

I recently finished the book Show Your Work by Austin Kleon.  I really enjoyed chapter 9 which is entitled "sell out".  In the chapter, he rails against the notion that is wrong to get paid for your work.  On page 168, Austin tells the story of the man who had a guy come up to him after a poetry reading and told him that his poetry reading changed his life.  When he asked him if he wanted to buy a book for five dollars he said, "Nah, that is ok."    Austin Kleon writes that "sold out" is the best sign an artist can put on his work. Reading this chapter reminded me of the Occupy Movement.  My goal is not to be a occupier, it is to create something truly special. If I am paid well for it, that is one measure of my success.  Yes I do want to be the 1%.  My goal is to be the best I can be.

Authors, Speakers and Influencers

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Learning is a life long passion.  I learn by observing, reading and listening.  When given the opportunity, I spend time with great leaders.  Since I don't always get to spend time with great leaders, I have read hundreds of books.  I am always on the hunt for the best of books, podcasts, videos and any other opportunities to challenge myself to grow.  Below is my list of great authors, speakers and influencers.  Please feel free to share your list.  This is a list that I will update on a period basis.

  1. Dave Ramsey -Money Expert, Entrepreneur, Author
  2. Seth Godin- Blogger, Marketing Guru, Author
  3. Daren Hardy -Editor of Success Magazine
  4. Tom Mendoza-I learned a lot about leadership working for Tom @NetApp
  5. Keith Ferazzi -Author of Who's Got Your Back
  6. John Maxwell -Author, Speaker and Leadership Expert
  7. Brené Brown -I was heavily influenced by her 2009 Ted Talk The Power of Vulnerability
  8. Patrick Lencioni -Author of The Advantage
  9. Jim Collins -Business Author
  10. Sally Hogshead- Author of The Fascination Advantage and Marketing Expert
  11. Stephen Mansfield -Brilliant Author and Speaker
  12. Mark J. Silverman -Author of Only 10s, Mark left technology to pursue coaching and share what he has learned.
  13. Ben Carson -Author, Retired Neurosurgeon and Presidential Candidate