I’m not going to discuss the 7 Figure deals I have closed and won, nor am I going to discuss other big successes in my career. Rather, I want to share how I lost a $Million Dollar (+) deal early in my career. Because, most often we learn the most in our struggles and failures.

I was managing a large territory, selling marketing campaigns and loyalty programs to North America’s best brands. I targeted companies with a lot of customers, high competition, and little differentiation from their competitors. My value play was a service and team that benefited all aspects of the customer lifecycle (acquisition, engagement, loyalty, and retention). So what happened?

I reached out to the CMO of one of the 4 major wireless companies. It was a carefully crafted message, designed to touch upon his personal background, interests, and current initiatives. Within a short period of time, I received a response email from the CMO asking that I have a conversation with one of his team members who oversaw customer loyalty, a struggle they were currently facing. And after an in-depth conversation over the phone, we determined it made sense for me to fly to their HQ’s to meet with his whole team.

I can’t tell you how much fun it was (is) finding a prospect at the right time with needs that my team and I can help solve.

We were nearing the end of the calendar and fiscal year for my prospect. They needed to make some drastic changes, and my value proposition was just what they were looking for. We immediately began drafting an agreement together at the beginning of December, but we soon were hit by several road blocks. Both their legal counsel, and my legal counsel took time off for the Holidays. I can’t tell you how frustrating this was for me. There was absolutely nothing I could do, outside of reporting my problem to my EVP of Sales, my hands were tied. I was reassured that this agreement would take precedence at the beginning of the year.

As fate would have it this time, as soon as the New Year hit, an announcement was made that my Prospect would be merging with another Wireless provider, and with that, my deal was dead. Soon my Champion was let go, budgets were frozen, and all plans were put on hold. My goal of closing two 7 figure deals in one year’s time was spoiled.

So what did I learn? Agility. The ability to move quickly and easily is so imperative at all successful organizations. I can’t tell you how many companies I have worked with that make it difficult for their employees to be successful. Wether it is a lack of communication, unnecessary rules or policies, or even non-cohesive tools and processes, it can all add up and cause results that nobody wants.

Leaders, I advise you to survey your company and determine everyone’s ability to be agile. Employees, be open with your leadership team. Share with them ways that your organization can improve. As you work together to create a nimble and agile company, you might end up saving someone’s $Million Dollar deal!

#Sales #Leadership #Marketing #Agile #Learn #Experience #Loss #Visibility #Insight