Targeting Opportunities that have more potential
Have you ever found yourself chasing opportunities that never seem to close yet you have done "all the right things along the way".
This can have significant and long-lasting impact on your business it takes a lot of time for minimal outcome, you may miss opportunities along the way, you may damage your brand and reputation and it also will gradually impact your drive and motivation in other areas of the business.
A key reason for finding yourself in this position is that you were often chasing the wrong opportunities in the first place.
Many of us get swayed into targeting the larger opportunities or those with which you have the strongest relationship naturally they appear to have the most potential at the outset, but when you scratch the surface, the opportunity presents challenges and hurdles that will reduce the potential of the transaction from ever occurring.
We find that the high performers use the considerable insight they have collected along the way to clearly determine the true potential of each opportunity. In essence the process looks something like this:
Determine a set of criteria by which you will assess the potential of prospective opportunity- this should be unique to your business. An example of this criteria could be "the strength of the relationship that your prospect has with your competitors".
Using approximately 5-8 criteria create a scoresheet listing each prospect down the page and list the Criteria in each column across the page.
Create a score (e.g. 1-10) across each criterion for every prospect in your portfolio. The combined score of that prospect represents the potential for success.
As you learn more about that prospect you may need to amend the score.
With higher scores indicating greater potential your activity should then be aligned to the score resulting in more consistent and greater levels of activity on those prospects that have the most potential to deliver a favourable outcome.
This process may take a little time to set up but the impact that it can have on your effectiveness can be significant.
Tips from John Buchanan, Beyond 19, Coaching Practicing Lead:
Whether you are chasing a 'big score' or just 'keep ticking the scoreboard over', there is still a process to be followed to achieve either these are called your basics, or your tried and tested Game Plan
Your basics or Game Plan is what you must do in every situation to give yourself best chance of achieving the outcome you are chasing
Review when you have been successful and understand what you did to make it happen all the actions and behaviours that were in your control. These become your basics, your Game Plan
There is still of guarantee of success, but it is guaranteed that without you understanding your basics, success will be continuously elusive
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