When it comes to sales, time is of the essence; success within the industry generally boils down to rapid decision-making and the ability to recognise and react to opportunities swiftly, so how do you speed things up?
By confronting the approach to accuracy and risk.
Contrary to popular belief, precision does not always take time and acting fast isn’t necessarily a recipe for disaster. Instinct is a powerful tool that can be relied on to make good, effective choices, but it can be hindered by overanalysing the task at hand. Have confidence in your skills by keeping in mind past successes when moving forward – it’s just as important to determine what could go right as what could go wrong.
Pressure can be a major blockage when it comes to completing deals quickly. Freezing or panicking is common when under strain as the brain finds it difficult to see beyond the immediate situation. The best way to get past such instances is, rather surprisingly, to act fast. This doesn’t mean to act rashly, but rather to make a positive step towards the desired outcome. This can be something major or something relatively insignificant, just as long as you push past your trepidations and use the memory of past successes to drive you on.
If you’re making decisions and completing deals by yourself, you will have full control over how long it takes. However, when part of a bigger team, it can get a little trickier to turn things around at the pace that you want. There are two main decision-making models you can utilise to quicken team decisions: consensus and consultation. Consensus works by posing several options to the team and selecting the most popular choice, whereas consultations involve taking all opinions and selecting the best one.
With the decision-making models in mind, it’s easy to understand why a team is only as good as its leader. The best kind of leader encourages the team’s skills and backs the talent of their workforce so that they feel able to act instinctively and intuitively. Leaders will undoubtedly have come to their own position by doing just this, so there should be a similar sense of freedom throughout the business. Encouragement should never be mistaken for pressure because, as we have already established, pressure can inhibit quick thinking. It is very important to create the right form of environment so mistakes are not feared. The less they are feared, the less they are made.
It is universally accepted that time kills all deals. We are in an era of economic and political uncertainty, so it is more important than ever to act fast while competitors are being overcautious. If you would like more advice on the effect of speedy decision-making on sales or are looking for the next step in your career, contact Austin Benn today.