How much preparation is too much, and can over-preparing actually hurt your sales production?
Sometimes, preparation can be a crutch and prevent you from action. For example, let’s think about cold calling for a second. You could spend hours searching Google, LinkedIn, company websites, and news outlets before picking up the phone and making your first cold call.
Will that help you? It certainly might. But we all love to come up with a reason not to make that cold call, right? So, is this procrastination or preparation? Think about what you are trying to achieve with that cold call. Do you truly need all that knowledge to identify a decision maker, uncover an initial need, and set an appointment? Unlikely.
What if you assume that your product is perfect for one prospect but not for another based on your research, so you don’t call in the first place? What if you get the meeting and you have learned so much about your prospect that you make assumptions about their needs before you engage with them? In my experience, this bias can prevent you from engaging some real prospects and limiting the problems you can solve for others, making your deals less profitable.
Now don’t get me wrong, I am a firm believer in training, reinforcement, and being knowledgeable about your product, your competitors, and your customers. Just remember not to outsmart yourself. Sometime the best environment to learn is right there, with your clients. If you ask them the right questions and focus on where you are in the process, your knowledge will grow.
Tips to avoid over-preparing:
âœ”ï¸ Educate yourself about your prospects but stop short of assuming that you can or can’t help them until you have engaged them in a discussion.
âœ”ï¸ Learn a selling system so you know where you are in the buying process. You can then assess your progress toward winning business or telling your client that there is not a good mutual fit. Without a system, you are at the whim of the buyer, and you will struggle to decide how much preparation you need.
âœ”ï¸ Research your contacts and ensure you are talking to decision makers. Don’t give up free information to someone who can’t pay for it and have a plan to get engaged with the true buyer.
âœ”ï¸ Learn your products but don’t focus on making the perfect pitch. Instead focus on the real problems they solve for clients and the value they create for your customer. If you don’t know - prepare the questions you need to ask to find out.
âœ”ï¸ Do your homework, but don’t be quick to present to the client all you know. Ask them insightful questions and let them tell you what’s important. Let them uncover how your product can solve their issues.
âœ”ï¸ Know your prospect's financials and how they make money, but don’t assume your prospect has money or desire to spend it on your product. Learn how the ROI will be recognized and add value to their business.
âœ”ï¸ Let your client close you – not the other way around. If you have prepared by uncovering their needs and showing them how your solution creates value for them in a way that your competitors can’t – you won’t have to close them.
Do you think it’s possible to over-prepare?
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