Do you ever lose opportunities because an executive you’ve never met says “no”?
Do opportunities seem to go on and on like a death march?
Have buyers gone to the end of a sell cycle with you, only to back out?
Well, these are a few examples of signs that opportunities that have been misqualified. Here are 6 key questions you should ask yourself early and often:
- Have you identified a clear CRITICAL BUSINESS ISSUE (CBI) driving the need to act?
- Have you developed a clear vision of a SOLUTION in the mind of your prospect? With that, can you establish a clear advantage over your competition?
- Have you PROVEN to the satisfaction of your prospect that you can provide the capabilities that make up the solution?
- Have you gained access to POWER and other members of the buyer’s decision making team?
- Does the buyer have a clear sense of the VALUE the solution brings? Does the VALUE meet their ROI requirements?
- Have you and the buyer agreed on a clear ACTION PLAN defining the steps leading to a buying decision?
These six qualifiers can be summarized in the equation below, where if any item gets a score of zero or close to zero, the probability of a win is in turn zero or close to zero.
If you are not satisfied with any of the answers then your opportunity is at risk, and I would recommend taking the appropriate action(s) with your buyer to rectify the problem, and there are two possible outcomes:
- If you are successful then you will have an opportunity that is back on track.
- If you are not successful, do the math! In all likelihood you should disqualify the opportunity.