Thoughtful Thursdays – Stop leaving money on the table
Not many things bother me more than leaving money on the table.
I see it happening almost every day and can only imagine how much business revenue is lost needlessly due to sales people taking the easy way out.
We work diligently to make sales and in the blink of an eye can sacrifice valuable margin dollars by not going the distance with our customers. All fueled by the fear of losing the business.
Don’t get me wrong, there are instances where the options and consequences are clear. In today’s business environment competitive pressures have never been higher. Everyone is seeking more for less and without making any concessions. It can seem like every street is one way in the direction of lower margins.
Todays sales thought is about doing everything in your power not to leave money on the table.
- A price objection is not necessarily an invitation to negotiate.
- Consider all options offering same day or overnight freight as a concession.
- Don’t delay invoicing.
- Don’t delay collecting receivables. Have you checked your average days to pay lately?
- When was your last price increase?
- Become comfortable saying “No”?
- I have said this many times. Do your due diligence and understand the situation before making decisions.
Good selling,
Richard
Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.
Please share Thoughtful Thursdays posts with people you feel may find the topic interesting and helpful.
Comments are closed.