I lost a big enterprise deal today where I and at least half a dozen people have already put in numerous days of work and we’ve already agreed on a price and had a verbal commit. I was wondering how you deal with setbacks?
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First of all, I am sorry to hear that. That hurts for sure.
Unfortunately, setbacks are part of any sales job, whether BDR, AE or SE. But that doesn’t make them any easier to swallow, right?
An experienced Enterprise AE used to tell me that he learns more from lost deals than won deals. And from that, I would come up with the following advice (sorry some are a cliché):
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Analyze what went wrong. Was there a miscommunication? Did a competitor offer a better solution? Discuss it openly with the team (without assigning blame) to see if there are any lessons. Was your company not enterprise-ready or the product?
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Even though the deal fell through, highlight the positive aspects. The team gained experience, showed their team work and was so close to getting this deal.
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Instead of dwelling on the loss, focus on the next opportunity. There is always something new to focus on.
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Sales is a marathon. There will be wins and losses. In a few years, it will be a story to tell younger colleagues.
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Thank you for your answer. These are good tips.
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