[Video] How to Reduce the Decision Risk


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How can you reduce the risk involved in making a change? I don’t think that we, as sellers, understand just how much a factor that is. But let me give you a quick example. When I first started in business, I had a prospect from a big company who loved my proposal. Seriously. He said it was by far and away the best — and that they’d decided to go with my competitor.

You know what the reason was? If a Mack truck hit me, their entire sales training program would fall apart. It was a real shocker to lose to a poorer quality, more expensive solution. But it was the first time I really understood just how much risk my prospects felt in making a decision — and I wasn’t prepared for it.

So here’s what I’d suggest you do: start by creating a list of all the potential things that your prospects could perceive as risky. For example, they could be fretting over your company size, quality, ability to meet deadlines, or not being able to deliver the promised results. And once you’ve done that, start thinking about all the ways you can address these issues head on.

I’d also suggest you bring up issues that have stopped you from getting the sale in the past. You might as well address them head on — because you can be pretty sure your prospect is thinking them. Transparency is crucial in minimizing decision risk.


Republished with author's permission from original post.


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