March Madness is a well-known term in the world of sports, signifying the NCAA college basketball tournament, a thrilling, single-elimination, winner-take-all event. Beyond the basketball courts, March also brings with it the excitement of Major League Baseball's Spring Training and Opening Day, and the promise of warmer days ahead.
However, "March Madness" can also be used more broadly to describe any erratic behavior that might arise as the year progresses. As you evaluate your business development strategies, have you stopped to consider what – if anything – might be holding you back? Those less-than-productive habits that are preventing you from closing more business and making larger deposits into your bank account? Some rules you know you should embrace:
Never Stop Prospecting
In sales, it's critical to realize that prospecting is an ongoing process. No one enjoys it, and most will do anything to avoid it, but it's a key element of your success. Your responsibility is to constantly build a pool of potential leads, casting your net wide to bring in a variety of potential clients and customers. Once you've gathered your "catch," you can then sift through and discard those who aren't a good fit. Relying on the hope that prospects will come to you on their own is a dangerous and risky approach. Keep casting your net to ensure you're always working with fresh leads.
Avoid Over-Educating Prospects
It's easy to assume that sharing your industry knowledge with a prospect is a good strategy, but it can backfire if you don't first assess their level of understanding and, more importantly, their willingness to commit to doing business with you. Overloading them with technical jargon, buzzwords, or industry-specific details can lead to confusion or discomfort. Instead, focus on asking questions to uncover their needs and concerns. The goal is to find a mutual solution, not to overwhelm them with your expertise.
Not All Proposals Will Close
A proposal may seem promising when a prospect expresses interest or asks for more time to think. However, these signs don't always indicate a forthcoming sale. Many prospects will avoid directly saying "no" for fear that you might go away (thus losing their source of "unpaid consulting") and leaving you to wonder if the deal will ever close. Rather than clinging to false hope, embrace rejection as a learning experience. Gaining clarity on a prospect's true intentions — and accepting a "no" when it comes — is part of the learning process and is essential for your professional growth. Understanding why a prospect doesn't convert helps refine your approach for future opportunities.
Don't Assume Full Transparency from Prospects
It's natural to trust that prospects are being truthful with you, but it's important to remember that they may not always provide all the relevant information. Just because someone claims to be the decision-maker doesn't mean they don't need approval from others or that they're ready to make a decision. Similarly, a prospect may tell you they're in a rush when, in reality, their decision timeline is months away. To avoid being misled, ask follow-up questions to verify each piece of information. Remember, as Dr. Gregory House once said, "Everybody lies."
Keep Evolving as a Sales Professional
In sales, complacency is a dangerous trap. If you think you've "arrived" and can coast on your past successes, you're setting yourself up for stagnation. Sales is an ever-evolving field, and the moment you stop learning and improving, you risk being surpassed by your competition. Keep pushing yourself to grow and remember the words of Satchel Paige: "Don't look back. Somebody might be gaining on you."
As March rolls on, enjoy the excitement of the basketball tournament, but use this time as a reminder to avoid the common pitfalls that could hinder your sales career. Stay focused, stay proactive, and continue striving for growth to achieve the success you deserve.
