We lost two pieces of business this week
Why would anybody in their right mind boast about such a bad result?!?
Well, firstly I'm not boasting. But I am sharing and being honest and transparent. Running a business is HARD! It is not for everyone and there are constant knock backs!
Linkedin is rammo with good news stories but I do think a balanced perspective is useful for everyone!
I'm old enough (46 yesterday!!) and wise enough to know we won't win everything we bid for and we shouldn't, some of it other people are a better fit for and we can't win everything.
One of the 'losses' was a Spanish based healthcare business who has opted to select a Spanish speaking, Spanish based and with awareness of the healthcare Regulations to deliver business in his home country. That all makes perfect sense to me AND we will remain in touch and have a coffee in May and see how it's all going!
Business is based on relationships so you never know this one may bounce back yet :)
The second 'loss' was a business that just cant afford to pay what we charge as they are too early stage so I am passing them over to another business we know who works with smaller revenue entrepreneurs in the hope that they are a better fit at a more compelling price point.
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My rationale for posting today was to say the fact that they both communicated to me and told me their decisions is the key part of this post and therefore my message!
Plenty of us startups have Prospects in the pipeline that we then spend months chasing to get a Yes or a No. This is wildly counter productive for us all! Us chasing and you being on a receiving end. If you know you are going to go a different way, or select someone different or your strategy and needs have changed just communicate that fact; swiftly and effectively. We are all adults and we can cope.
Plea to everyone - not just prospects The Grafter is chasing!
Happy Friday :))
Rachel - great post. There's another angle too equally applicable in our business - knowing when not to accept new business - yep, recusing yourself from the opportunity. Had a case recently - it was an interesting gig but the chemistry just wasn't right. I'm an old lag now & have perhaps got a bit picky in my old age - but accepting and doing 'good' ( as in not any old business) is vital to all but especially startups. Keep grafting - it'll pay dividends.
Co-founder / Group CEO at Youth Group
7 个月It can seem counterintuitive to openly discuss setbacks like losing business, but there's actually value in acknowledging these experiences.
Fighting the good fight to improve sales and startups - CRO @ The Grafter
7 个月Nelson Mandela said it so well: "I never lose, I either win or I learn"
ETA/Search // Investor : Acquirer : Founder : NED
7 个月Their loss Rach, but 100% agree important for alignment to be right. Prefer trying to establish fit and affordability during the sales-qualification stage before expending effort on proposals, but not always possible. Happy Birthday though!