It’s always fun when one of my clients reaches the point where they’re about to land a big deal, bigger than they ever had before.
What’s especially fun at such times, is when they show up to a coaching session all happy and excited with their new about-to-happen sale, and then I get to rain on their parade, and tell them:
"Question the yes, because it's not a sale until the money is there".
Yes it’s harsh, but you and every entrepreneur needs to learn the lesson:
Until you’ve been paid or the (contract has been signed), it’s not a sale. And you shouldn’t congratulate yourself, buy that holiday, have that drink, invest in that new computer, or reward yourself in any other way.
No celebrating, no cheering – not yet.
Why?
Because landing a deal is an extremely delicate process, and it can go wrong at any moment and in many ways. As you may have noticed.
And the closer you get to the moment where your buyer transacts with you and converts from being a buyer into being your client, the more nuanced and delicate things can be.
You need to be sharp, awake, aware, on your toes, observant and responsive to what your buyer does and says.
When you’re nearing the finish line with a buyer, under no circumstance should you take your eyes of the road.
Because what happens when you celebrate or reward yourself?
Your sales instinct goes limp, you become less observant, more sloppy in your communications, less focused. The moment you celebrate, as a seller, is the moment you become a weak seller.
Aaaaand… there. Another one that got away. Well done, you. Because you thought the cat was in the bag, all cheery and happy, and because of that it didn’t register that your buyer voiced that killer concern, and that concern now ended up ending your deal. Oops, missed a thing.
The problem is, as is often the case, that you can’t afford to take an assumption as fact. And when a buyer hasn’t paid or signed yet, you’re working with an assumption, no matter how excitedly they say yes or how badly you need the sale.
You’re assuming the sale will happen. You’re assuming that your buying saying yes, means that they will also proceed to do yes. And until they do, and sign or pay, all you have is hope and an assumption.
And when you assume the wrong thing about someone else, you’ll display the wrong kind of behaviour for them, and your buyer will notice and feel like you’re needy, or that you’re moving too fast, or that you’re not getting them.
Each of those emotions and reactions, and many others that you could trigger, can cause your buyer to move back, instead of leaning in. And like I said, there’s also a real risk that your instinct and perception go limp, and you might miss something crucial.
So, when a buyer says yet but hasn’t paid yet: keep your celebrating for later, and stay sharp. You’re almost there. Stay alert, and cheer when the money is in.