“If you’re not first, you’re last” - Ricky Bobby, Talladega Nights
In most cases, sales is a zero-sum game: there is typically a winner and multiple losers. While there are situations where a deal is split among vendors/partners, when a company like Ingersoll Rand wins an order for a large building systems contract, it is usually at the expense of their competitors.
When is it acceptable to lose? EARLY. We work with many clients (and apply this to our own business, sometimes with mixed results), who are seeking to improve their win rate. One of the best approaches (aside from launching a new best-in-class proprietary mousetrap) is to strengthen your sales team’s ability to assess opportunities and constantly qualify in/out. Easy to say, harder to do, especially when there are not enough opportunities in the pipeline to meet monthly, quarterly, and annual goals.
What are some approaches to improving win rate?