To paraphrase a well worn selling phrase; you don’t mind bad news as long as it’s early bad news. Then you’ve got chance to re-examine your best potential deals, course correct, and still hit your number. Sometimes, in times of high stress and activity, you can’t even get the bad news fast enough.
This can even be the case in the lightning fast world of web 2.0. I was reminded of that fact in the last few days as I just couldn’t get the news on the US Government’s $700bn banking bail out fast enough, even with Blackberry in hand. When the normal news portals can’t get you the news quick enough, you have to go to the live text updates, the latest musings on the blogs and whatever you can find. But then you’re into the another law of sales management; you have to establish your facts. Do you wait, perhaps too late, for official word on something important, or do you take a risk by making an early decision on information that doesn’t carry the same stamp of quality and as-near-as-we-can-manage veracity?
I’ve 3 words for you: Customer Focused Research
Of course, this is what separates the ladies from the girls in this current selling environment. The best sales 2.0 practitioners have all but legislated fortune and bad global news out of the selling equation, because they have done their homework, done their due diligence, and done it with a melding of the old and the new skills, the historic and the real time, the trusted people and resources and the not so trusted.
So, as we all wait for the earliest possible news so that we can place our chips, it doesn’t really help if you haven’t done your own homework, but if you have, then you’re more likely to have your customers researched, your pipeline full and the numbers covered, and the latest news just adds context.