Effective sales processes for even moderately complex situations include an early stage Discovery process. But how well are you executing it? Are you using it as a check the box exercise, hearing what you only want to hear so you can move ahead with a demo or proposal? Or are you really, really probing and listening to gain critical insights and commitments that will advance the deal toward a favorable conclusion?
Some say “deals are won or lost during Discovery”. Here are some considerations for assessing the thoroughness of your Discovery and, therefore, the health of your deals:
- Has the prospect articulated a compelling reason to change from their
current situation (status quo)? - Do I understand the consequences to the prospect and their organization
if they don’t act? - Does the prospect feel a sense of urgency, compelling them to act now vs.
down the road? Why? Have we aligned on timing? - Have I gained the necessary commitments to advance the deal? Did the
prospect live up to them? Which commitments do I still need? - Do I know who all the involved or affected decision influencers are as well
as the final authority who will commit to buy (“stakeholders”)? Do I have
access to them? - Does the prospect have the money to buy this? If not, do they at least
have the ability to get the money? - Do I know where I stand relative to the prospect’s other alternatives
(including “do nothing”)? - Do I completely understand the prospect’s needs, priorities and decision
criteria? Is there consensus among all key stakeholders on my “solution”?
Warning signs that your deal may be in trouble:
- Prospect has no commitment for action to advance the deal (“Sales
Advance” per Neil Rackham) - Prospect has made commitments but misses them
- Deal age much greater than average sales cycle
- Prospect won’t collaborate on a solution
- Prospect refuses to include key stakeholders
- Trigger event that could change the focus (new management,
merger/acquisition, organizational change, new competitor, etc.)
It may be tempting to breeze through Discovery, giving it a token effort. But doing so usually comes back to bite you in the end!
