The cost of not closing a deal
When you are in the automotive industry at times it gets difficult to close the deal, you first lose your confidence and belief. Your mood becomes visibly depressed. Have you ever witnessed a salesperson repeatedly lose deals? As a result, you begin to dislike your job. The quest begins to lose its meaning for you. Instead of focusing on the success that comes with closing a deal with a client who wants to buy any car or any automobile for that matter, attention gets stuck on losses and failures.
A transaction can take two hours. Depending on how long your sales cycle is, you might spend two weeks, two months, or even two years. For some reason, you didn’t close the deal when you had them at the negotiating table. How did it happen? Do you know how much it costs not to close? As soon as you fully understood the cost to you, your company, and them, you would say, “Hey, I have to learn how to finish this deal”. There was no closing for the prospect. Deliver your product to their hands.
What should happen now? Everything must be restarted. They must continue. You must continue. It is unnecessary to follow up to get them back in. You have an incomplete cycle and another incomplete cycle. Do you understand what I mean? Another task was left unfinished. Like the lawn, you didn’t get around to mowing this weekend.
You haven’t finished your paperwork. The mail you didn’t deliver. Unfinished cycles cause people to lose their power and ability to complete tasks. The close is all about getting things done. You want to complete action cycles. Now you have another client to get back in front of, to go through the entire presentation, and then close when we could have learned how to do it today.
It is not beneficial to your customer if you do not close a deal being a salesperson: Do you understand? They do not understand your product or service. They’re not interested in your business. They don’t have the opportunity to rally behind whatever you’re presenting to them, so they lose. What happens if you remove the letter, then the first letter of the word closes? If you remove the C, you get L-O-S-E, which means “loss.” It is entirely up to you whether or not to close. If you can’t close others on your ideas, dreams, proposition, or offer, you lose, they lose, the company loses, and the economy as a whole loses.)
The harsh, cold, and harsh reality is that if you don’t close, everyone loses! You give up something when you don’t close on your proposal. You abandon what you believed in and settle for someone else’s proposal. Do you get it? A close call occurred, but it was the wrong one.
So, I want you to become acquainted with the cost of the no close. It’s massive to you, and if you haven’t assessed what it is, you have no idea how it’s affecting you. I want you to take a moment right now to calculate the cost of not closing one deal per month or one deal per year.
A week, or how often do you not close? Is it once a day, once a week, once a month, or once a year?
only once a year? I’d like you to include the cost of not closing that transaction.
There is a real, measurable cost to failing to close. There is no greater cost to an individual, yourself, or the company than the inability to actually close others on your products, services, ideas, and dreams. You will not receive a return if you do not close a deal.