Sales Toolkit Series: Top 5 Reasons Deals Fall Apart
This is the first article in our Sales Toolkit series where we hope to provide our audience with some
helpful tips to become better sales professionals.
1) Deal Not Qualified
A couple of key questions you should always be asking to better qualify your deals:
– Does the prospect have the money to buy your product or service?
– If so, do you have a sense of their exact budget?
– Do you know who controls the budget dollars?
– Did you ask your coach about budget?
– Have you floated any budget numbers on pricing to gauge reactions?
Yes, these questions are basic. But is often surprising how often you don’t get this
information on one of your deals for any number of reasons.
2) Misplayed the Decision Makers
It seems often when deals fall apart, turns out you were talking to the wrong people or
misread a key individual involved in the selling process.
Decision Makers Checklist:
– Have you identifed all the key decisionmakers for your deal?
– Do you know what role each stakeholder is playing in the selling process?
– Have you spoken had conversations with each of them regarding the deal?
– Do you understand their perspectives?
– Have you addressed any barriers or concerns brought up?
3) Weak Relationships
How strong are the relationships you built during the selling process? Chances are if you answered, not
strong, you lost the deal.
– Have you developed a strong relationship with all key decisionmakers for your deal?
– Have you been able to develop and build the relationships outside the office?
– Have you had at least one dinner or social event like a golf game with your prospects?
4) Poor Execution & Follow-up
It may be surprising but often deals are lost by fumbling the ball on some of the basic blocking
and tackling to take the deal across the finish line.
– How are quickly are you following up on action items related to your deal?
– Do you have a game plan to get your deal closed?
– Do you have all of your internal deal people on board to support you?
– How well do they understand the prospect?
– Have you identified key milestones for a deal?
– How are you tracking against the milestones?
5) Bad Timing
Deals often go awry when the timing is just not right. You think you have a deal ready to close
and suddenly the prospect stops returning phone calls. What went wrong? Well, it turns out the
need just was not there at the current moment.
What is your prospect’s timing for making a decision? This is
something you should attempt to get very early in your sales process.
– Is there a sense of urgency? Without a sense of urgency, chances are your deal with be DOA.
– What is driving your prospect’s decision on timing? Key events such as contract terminations, CEO mandates,
competitive pressures and cost cutting often drive timing on decisions.