If you are from the business development team, the one thing you have set on your mind is to seal as many deals as possible. We must say, the process is really stressful and tricky as there are lot of things involved like sending across quotation, setting up meetings, discussing finer details, making negotiations and finally, settling on numbers suitable to both parties. A lot of people from the business development team have made mistakes in the past, so isn’t it best that you do your best to learn from them?
So, if you are someone who has lost some prominent clients or deals that could have taken your business to new levels, you need to make some improvements here and there and develop your skills. To make sure you don’t suffer the same fate as the last time, you have to avoid some mistakes.
Below we have mentioned the top four mistakes you should skirt around when sealing a deal:
- Overlooking the efforts
As discussed above, the final push is the most important thing when you are sealing a deal. Never hold back anything at any point when you are in the midst of making a sale. It is very vital that you build a strong relationship with your customers. You will have to show that you will do anything and everything to ensure that they will get what they want. Give some extra time to that proposal. If you put in the efforts from day one itself, they will surely pay off in the end. Before you give your client a presentation, surprise them with a gift. It is one of the best tactics to tip the scales in your favour. Ensure it is small and subtle. Not only does it show that you appreciate their valuable time, but also differentiates you from your competition.
- Dressing badly
Your customers will judge you on the basis of your appearance. So, always strive to put your best foot forward.
Colours matter. So, if you are not sure, which colour to wear for a presentation, go with neutral ones. Normally, neutral colours like khaki, black and blue are go to for any business meeting.
While you are dressing the part, don’t forget to groom yourself. Do you think your hair is not suitable for tomorrow’s meeting? Is that beard properly trimmed? If not, get yourself that haircut and beard trim.
Trends come and go but a basic design always stands the test of time. So, if you are someone who wears spectacles, give a good thought. Choose wisely and invest your money in the most basic design that is suitable for the meeting.
Never think that the person on the other side of the table is not judging you by your looks. So, whatever style you choose, go with something that suits you best. Remember that class never goes out of style!
- Failing in negotiation
You must understand that each client is different, and the same approach won’t work with everyone. Understand your client’s specific needs and provide them with a solution that caters to their need perfectly. Never become nervous when you are making negotiations, you don’t want to appear weak when you are representing your business. Keep your voice low and speak softly but firmly. This will help you gain the upper hand in the negotiations. Keep in mind that, there is a fine line between blabbering and speaking to the point.
- Forgetting about the sale
Now that you are running this race for a long time, you will definitely feel excited to cross that finish line. A lot of people fail here, not knowing what to do. Never forget to ask your client for the sale. So, how do you go on about it? “Would you like to make the purchase today?” It is as simple as that. If they say “Yes”, let the celebrations begin. If they say “No”, keep paddling the boat. An additional tip that you can put to use is to ask the question with a confident smile.
After you have sealed the deal, make sure you stand true to your words. If your company provides services, make sure you update your clients with day to day developments. Provide sample products or raw materials in quality tote box to ensure your clients receive them in the best condition possible.
Now that you know what the common mistakes are, find out where you failed in your last deal and implement the changes you need to grow into an overnight success.