Time Is The Killer of ALL Deals
Period. Hard stop. Let's pause for three minutes. Consider the impacts that silence and a lack of communication or advancement in any deal has on business, sales, recruitment. Time in the process without clear, honest and specific communication kills the deal.
I should really stop here, however based on stories from friends and colleagues this week who are living this experience, I will continue. Time is the killer of deals. This is a steadfast rule of business and life. I have yet to find a scenario in which it does not apply...except perhaps if we’re watching paint dry or wine age, but those would not classify as “deals”. When it comes to closing a sale, recruitment of your our next addition to the team, or even a decision such as whether you will go out with friends tonight - time is not your friend.
Now, before you jump all over the idea that thoughtful decisions need time to make, there are many steps in some of these decisions, etc.. I am not at all suggesting that you rush the decision. I am however stating that empty time that lacks communication and/or lacks a continuation in the process at a regular interval - will kill your deal.
Communication as preventative medicine to a dying deal.
How? Honest, clear (avoid should, could, etc.), and specific (date, other info) communication.
Be Honest - Practice saying “no”
As a buyer, if you are not at all interested in signing a deal or making a purchase, there is nothing more valuable than communicating that message. Lying and saying that you will think about it and then never returning the seller’s message serves no one. We’ve all done it, but let’s break the habit.
Ignoring emails and messages is not fruitful, it wastes precious energy of both parties, the seller thinks that you’re just “too busy” to respond and as a buyer we just don’t want to share “bad news”. Sometimes we miss an email and forget, but many times after another email/message our memory is sparked about the previous email. Besides, you never know when paths may cross and you’re now known as “the guy/gal who doesn’t respond”. Let’s face it, an email takes at most 5 minutes… we choose not to respond.
Be Clear
Dr. John Izzo wrote “Five Thieves of Happiness” which explores the behaviours that are stealing our happiness. Blank and empty time (or invaluable time) in sales is undoubtedly a thief of opportunity. Once you have begun a discovery process with a prospect or client, uncovered some painstaking needs, and established the desire (from both parties) to continue to demonstrating capabilities - establish the date/time of the next step before you leave! Don’t “get in touch” with the next steps. You can set the meeting out for a month out, but the commitment to the next step of the deal is made. If the time between meetings is extended beyond a week out, I would recommend sending information/handouts ahead of time to keep the conversation alive and each party engaged.
“Clear is kind. Unclear is unkind.” ~ Brené Brown
There are a lot of activities, meetings, phone calls, competitors, other priorities that come into our lives each day that can easily derail the deal process if we do not keep it focused and on track. Do not assume that the priorities, budget and objectives are the same as the last time you spoke to the buyer!
Be Specific
There are only a handful of experiences in your life that are ‘life altering’. One of them is changing jobs, and as far as recruitment goes, keeping the process tight and advancing is a recipe for success. When a candidate is excited about a role and company seize the moment. That excitement when left absent of communication from the hiring manager/company is quickly replaced with doubt, questions, family/friend opinions and experiences which all equate to a killer of the deal.
I have recruited for many years (as a full time recruiter as well), and there are absolutely processes and steps that must be part of the experience. I am not suggesting we skip those important steps or rush this important life altering event, but I am suggesting that we keep it moving and advancing. If gaps in time are unavoidable, be sure to keep those gaps closed with clear, kind and helpful communication.
Examples of how not to communicate in periods of pause within a deal:
“We’re still in the process of making a decision and should be back to you by the end of the week.” “We haven’t had the opportunity to look at anything yet. We will get back to you soon.” “We’re looking at a few more candidates, and will let you know.” Even if you don’t have an update but have reached the point in time when you have said that you would - communicate! Keep your commitment to communicate on the date you committed to with a clear and specific update.
