Lessons - Not Losses
Participation trophies aren't a thing in life and business. At least not a life you want to live and a business you want to be associated with.
This post is about changing your mindset. It's about focusing on the right inputs on the front end and outputs on the back end of decision making to keep you sane and happy in the world of sales.
Let's talk about Winning and Losing from a business perspective.
Winning is hard, and glorious. Losing is devastating, but valuable.
When in competition for a new client or to close a new deal, you need to be aware of all aspects of battle going on around you.
First off - self analyze:
Are you as prepared as humanly possible?
Are you aware of all the ins and outs of the solution you're looking to provide?
Are you aware of your demeanor, how you're coming across to the client? In-person, on the phone, over email, at ALL times?
Are you responding quickly enough? Do you know exactly what their expectation is in this regard?
Are you thinking a few steps ahead, regarding potential drawbacks she may have, and shortcomings of your organization?
Are you showing up on time or early for all interactions?
Are you clearly articulating why your solution is the best option?
Is the experience you're providing not only positive but perfect, for the given client on the other side?
Is your relationship transactional (handing off the batton), or have you moved to collaborative (crossing the finish line, as a team, together)?
What does personal rapport look and FEEL like?
Are you bullshitting? The higher you go within an organization the better people are at detecting BS.
Does this person and this company TRUST you?
You need to address/think about/prepare for the following questions about your organization:
What are your companies strengths/weaknesses?
Specific organizational weaknesses? Particularly in comparison to what you know your competition is strong at?
What does your organization do well? Have you emphasized that enough?
How will you be countering their attacks at your shortcomings?
What resources do you have available that make sense to deploy for this particular use case?
Then you need to think about the competition:
Have you considered their strengths?
Their weaknesses? Particularly in comparison to what you and your organization bring to the table?
What do they do well?
How will you be countering their attacks at your shortcomings?
What resources do they have available to them?
What is their reputation in the marketplace?
Historically, how have you faired against them 1 on 1?
You need to consider the individual you're competing with:
What are his/her strengths and weaknesses?
How long have they been at this company? In the industry?
Track record/reputation?
How good of a relationship do they have with your potential client?
How long have they been working together?
How much value are they bringing to the table? (personally and organization wise)
Are they technically savvy or just a relationship play?
Take a moment to process all the variables listed above. There are 31 bullet points, and this is relatively high level thinking, far more of a nuanced approach is necessary for bigger deals. **Also note - you can answers all of these questions in a resource available here: Chris Keith - Competitive Analysis spreadsheet.
This is why it's IMPOSSIBLE to win every interaction you have. There is too much going on. You're going to miss something, misjudge a scenario, underestimate an opponent. It's human. MLB players with a batting average of .333 (33%) are Hall of Fame guys!
What you can absolutely take from each and every one of these 'losing' interactions are LESSONS.
What an opportunity to be mindful! To reflect. To take ownership.
Rather than wallowing in the misery of defeat, take 5 - 10 - 60 minutes to think deeply about your scenario. Write about it. Analyze what worked and what didn't. Pat yourself on the back for smart moves, and ponder back to strategy that could have been improved.
Rather than point the finger and blame outside circumstances, look within, and take responsibility for the missteps you made.
Losing hurts - it fucking kills. But it's part of life and definitely the world of sales.
"It's not personal, Sonny, it's strictly business."
Don Corleone
And it’s true! You can’t take every interaction in a professional environment personally. It will eat you alive. (trust me - this is coming from experience)
But god damn, it's easier said than done. When I’m working on something or spending time on an opportunity - I’m all in. I get passionate about just about anything. Ask anyone who knows me, it's obnoxious. A blessing and a curse.
Having this mindset or living this way can be hard on the human psyche. It's even more difficult for salespeople, as they are subject to this type of scrutiny on a daily basis! After hearing losing news, it’s taken the wind out of many of our sails, many a time.
The issue with having this investment or passion is that when you are dealt a setback, it's extremely difficult to let it roll off. There has been blood, sweat, raised voices, late nights, early morning thoughts, pacing, phone calls, well-drafted emails, lunches, fishing trips, other projects and relationships on the back burner. It's impossible to immediately move on and walk that off.
Same is true with relationships, other competitive events (sports) and so on.
This is why it's CRITICAL to compartmentalize and tell (or trick) yourself into thinking - This hasn’t been a loss. Its been an opportunity to learn. A lesson.
This is parallel to a theory James Clear dives into about re-positioning your personal mindset in his book, Atomic Habits, specifically how to reprogram your brain:
"You don't 'have' to. You 'get' to. You get to wake up early for work. You get to make another sales call for your business. You get to cook dinner for your family. By changing one word, you shift the way you view each event.
I once heard a story about a man in a wheelchair. When asked if it was difficult being confined, he responded, "I'm not confined to my wheelchair, I'm liberated by it! If it wasn't for this wheelchair, I'd be bed-bound and never able to leave the house!""
What perspective.
Action Items:
Remember that you're not always going to win. There are too many dynamics at play in each and every scenario to always come out on top. Use the Chris Keith - Competitive Analysis sheet to help you monitor all of the dynamics at play.
No matter the outcome, be thankful for the opportunity to compete. To learn! Let it drive you to pop out of bed at 4:30 AM in the morning and send the 2 AM emails.
Competition by definition means that we are truly alive - to not compete is to die.
But make sure you learn your lessons quickly. No need to be taught the same thing twice. 🙂
