In High Probability Selling (HPS), we look for potential deal-breakers, things that could prevent the prospective customer from completing a sale with us. We want to know as early as possible, not later.
We also ask ourselves whether we want to do business with the prospective customer or not, even when we know that the prospect is ready, willing, and able to buy. It is better to decide this before the sale is closed, not after.
The first question students often ask is, “Why on Earth would you ever turn down a sale?” Here are a few answers. I invite our readers to add more reasons in the comments.
- You might not get paid, or you might have to fight to get paid.
- This might turn out to be a very difficult customer, difficult or expensive to please, a “Customer from Hell.” Someone you are likely to lose money on.
- The customer might not get any benefit from the product or service they buy from you. You need satisfied customers in order to succeed.
- You might not get everything you need out of the transaction. Many of us need more than just money in order to continue doing what we do.
- People can tell when you feel desperate, when you feel you can’t afford to turn down any potential business. An attitude of abundance leads to more success than an attitude of scarcity does.
The next question is “How?” How can you possibly predict any of those things?
High Probability Selling focuses on how to make better predictions about whether a potential transaction will turn out well, or not. Almost every step in the process has some sort of disqualification test behind it. However, none of these tests make perfect predictions. HPS is all about assessing probabilities, not certainties.
Questions and comments are welcome. I will respond to as many as I can. – Carl Ingalls