No, Non… In business this one word can shatter many dreams or it can actually do the reverse by creating opportunities. For a business practitioner no should not be the end of the conversation. As business leaders we should take the NO as a challenge, an opportunity to develop an idea and to be creative whether it’s in redesign, or negotiating skills.
Tip 1 – Don’t get Angry!
Over the years I’ve learnt that many times when a client or a potential deal goes sour it’s mainly because the buyer has not understood the product, service or its benefits. This is of course, assuming that you have asked the right person. Coupled with misunderstanding, is the whole notion of mistrust. The road to a sale many times begin with a “No”. No may just be because they’ve never heard of you or the company and are a bit skeptical to conduct business.
There are many reasons why someone can say No – it may be a previous bad experience or maybe what friends or relatives have shared via word of mouth or social media. One thing is certain for any entrepreneur NO is not the end of a transaction and should at all times be handled with utmost professionalism and humility.
Tip 2 – Get Feedback
Many times we can let our egos get in the way and miss a very important lesson. It’s important to ask a question but please don’t do it as though you’re an investigator with Toronto’s finest. If questions are to be asked, make sure it’s done casually so it does not feel as though you’re probing the client. The purpose is to develop skills, gain some valid market information or to correct any errors in your sales pitch. Of course if you hear “No” a lot then the likelihood is that you’re probably doing something wrong. In this instance, it can be that your pitch is off or just too long that the client lost interest. Other things to consider might be that your offer has no compelling call to action or your product has flaws. The important thing is to gain insight so that you can learn from the experience, make changes where necessary and continue the sales cycle positively.
Tip 3 – Recover
When you’re turned down for a sale, whether you are able to obtain information or not, don’t allow the rejection to consume you. Instead move ahead confidently, realizing that every sales person has heard “No” in their professional career. Remember attitude has a lot to do with it, and handling a NO with finesse can actually lead new business your way. How is this possible? Well it can be a simple case, that maybe that potential client or sale was just not suitable or it was just a case of wrong timing. If its suitability, remember today’s business world thrives on networking and it’s always good to keep doors open. Establish at that point if its ok to call in the future. Similarly, this approach works well if its wrong timing. Remember No is just a stage before you receive a Yes.
Sometimes, just recognizing that you cannot make it happen, can save a lot of time and money. If it’s you then find someone who can make it happen.
Finally, No is just a No sometimes…. However, if you implement these tips you can turn the number of rejections into successful closing. Have fun and above all things learn!!!