Hi Friends, Here is your end-of-the-week insight into what I see going on in the business world,...
Hi Friends,
Here is your end-of-the-week insight into what I see going on in the business world, what I’m thinking about, and what I’m learning about. Forward anything that you feel inspired to share. If this was forwarded to you and you found value, subscribe here for a weekly edition!
What I’m Hearing From Sales Leaders/Professionals
SLOWDOWN. Many of you have reached out and asked if I am hearing from other clients about a SLOWDOWN. The answer is yes.
Across multiple sectors and industries, there is a growing wave of delays on projects and decisions. So, I guess the first thing is, you are not alone!
Not sure that offers much comfort.
What can you do?
I am telling my clients that it is even more important to keep a pulse on the daily (heck, hourly) news, continuously pressure test your deals, have executives get more active, and move more urgently.
This week, I saw a deal get lost on the one-inch line because a comment the administration made spooked the buyer just enough to say they wanted to wait to see how things played out, i.e., “With the news coming out of the White House today, we have decided that this will be delayed until at least late Q3. We are still very much interested, but there is no need to provide us with a contract just yet. Talk soon.”
In this situation, my advice was to get on the phone immediately and pressure test the validity of the decision and the deal. It turned out that they were not on the one-inch line and that the buyer was interested, yes, but not as far along in the process as the seller thought.
In many situations, buyers have been using uncertainty (or tariffs!) as a polite way to tell sellers “no” without saying the words. This is a tale as old as time. Buyers often avoid telling us the uncomfortable truth.
However, when there are compelling global/economic/national/etc. events, there are times when what they are saying is the actual truth. Whatever is happening in the world/nation/economy is driving the decision. It is your job as a seller to figure out which scenario it is: 1. A non-confrontational way of saying no; or 2. The truth.
In the first scenario, you need to uncover the real reason. I have covered how to do this multiple times (if you want a refresher, reach out or read this blog on question trees). In the second scenario, first you need to figure out if you can reframe your value and the decision in a logical way. If you can, then you need to get to work on educating them to look at you differently.
For example, you may have a product that saves its workforce 30% of their time. You position it as a way to get their teams to do more high-value work. That’s a nice-to-have in a stressful economic environment when someone is just trying to stay afloat and may need to do layoffs. They have to make too many assumptions and leaps to see the value that you deliver, especially if they are in a heightened anxious state.
You can, however, reframe the value and position it as a solution that allows the company to get the same output with 30% fewer people. That’s much closer to a must-have and aligned with the problem that the buyer is really trying to solve—how do we reduce costs while maintaining our current performance?
If you are struggling with the slowdown and want to work on creative ways to continue to move deals forward, feel free to reach out.
What Made Me Laugh
Oh, autocorrect, you know me so well!
This Week’s 40/20
For every 40 hours of work, I believe you should spend 20 (additional) hours mastering your craft. This is how I spent some of my 20 hours this week.
I normally don’t drop two sales lessons in one Fuentes Friday, but the meme below, made by Kelsey Erickson, was too good not to share. The picture says it all. I cannot stand the question, “Does that make sense?” There are millions of different ways to ask for confirmation of understanding, and “Does that make sense?” ranks at the bottom. Want to learn different ways to ask it? Do some question trees. I can guarantee you that you will come out with better, open-ended ways!
Potpourri for 800
Potpourri (shoutout to Jeopardy!) is a category that covers a variety of topics.
I am weirdly loyal to certain actors from my youth. If Mark-Paul Gosselaar (Zack from Saved by the Bell) is in something, I am in. It may have something to do with the fact that my whole high school personality was an homage to Zack. (Editor’s note: I can confirm.) Anyway, I am also loyal to Joshua Jackson. That is driven by a large disdain for Dawson (the character, not the actor). He is currently in a show called Dr. Odyssey. This post is not about that show. This post is about an older show called Dr. Death on Peacock. It is fantastic. I highly recommend season 1, the one that Joshua Jackson stars in. It is the story of Christopher Duntsch, an American neurosurgeon who was convicted of assault and sentenced to life in prison after permanently mutilating his patients and killing two of them. So, uplifting TV. Check it out. It is very good.
Quote for My Son
Every day, I leave my son a note with a quote. This was my favorite from this past week:
“Look at your habits: Are they the product of numberless little acts of cowardice and laziness, or of your bravery and inventive reason?”
- Friedrich Nietzsche
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Let me know what you think about this week’s edition of Fuentes Fridays. Which section was your favorite? How can I make this better? Shoot me a message on LinkedIn @willfuentes.
Until next week!
Thanks,
