We’ve all heard statements like these. They give us a glimmer of hope:
• “I like what I see so far and will get back with you.”
• “We will have a decision by next week.”
• “I haven’t had time to look at the proposal but will look at it tomorrow.”
Hearing these can make us feel we’ve accomplished something, when in reality we are hoping and building pipelines based on wish lists. We do not have any concrete evidence that we can count on these opportunities
Many of us fall into a trap of seeing our pipelines through a cloud of hopium smoke, when our focus should be on staying in control of the sale. Hope clouds reality and hope is not a strategy.
So what is this hopium thing? Hopium is counting on and forecasting sales that are out of our control. But how do we know when we have lost control of the sale? It’s very easy to figure out. Hopium is when the prospect has control and we are relying on them to take the next step instead of doing it ourselves.
What can we do to avoid hopium? We must make sure that we end every meeting or conversation with a potential customer with a mutually agreed upon “Next Set Time.”
What do we mean by a Next Set Time? A Next Set Time is simply a mutually agreed upon date and time, which is on the prospect’s calendar and ours, to talk or meet again in order to move the sale forward. It is a very common practice for salespeople to ask the prospect when a good time is for them, rather than proactively leading the sales call and suggesting a time.
We want to be the ones asking for a meeting or conversation on a specific date and time because it allows us to maintain control of the sales process. It shows the prospect we are very interested in doing business with them -- people like to feel wanted. Plus it shows our time is just as valuable as the prospect’s time. What happens is it changes from just gut feel to evidence our prospect is playing ball with us. This is being proactive in sales.
Without a Next Set Time, we cannot rely on that prospect for income. We don’t get paid on wishes and hope, but we do get paid on what becomes reality. Having too much Hopium in our pipelines, or being overly optimistic about the business we expect to come in, leads to not prospecting enough. We become comfortable and reactive. We risk creating a desperation rollercoaster when business slumps.
Think about the following:
What are proactive activities?
• Prospecting over the phone (gaining new accounts and growing existing accounts)
• Spending face to face time with prospects and customers (looking for new business)
• Strategizing your next call and planning how you will win the business, including getting that critical Next Set Time
• Networking and attending new events
• Closing sales!
What are reactive activities?
• Answering emails to serve customers
• Firefighting
• Servicing existing accounts, without upselling or cross-selling
• Administrative duties such as cleaning out your office during prime selling hours
• Busywork that is not a high impact activity
When we snuff out hopium, we can structure our days and become better forecasters of what business is coming in. Our pipelines are no longer just wish lists. Make it your goal to be realistic and be the one in control of the sales process by gaining a NST. Good selling out there!
Two Actions to Take to Remove Your Own Hopium:
1. Ask yourself honestly, if you were to lose your #1 prospect or customer, do you have enough to make it up or could you make it up in a relatively short period of time?
2. Look at your pipeline and your calendar. How many prospects have your name in their calendars (with a date and time to speak or meet with you) in the next two weeks?
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