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Myth Busting


 

We are viewed as trusted advisors by our clients because we tell them what they need to hear - not what they want to hear.  

Don’t waste valuable time, energy and resources falling prey to these myths:


“We’ll guarantee results."

Senior level business development is part art, part science and part magic.  The selling of professional services (and increasingly even product sales) is based on a network of relationships.  The idea that anyone can guarantee the successful building of a relationship over a specific timeframe defies logic.  If "results" aren't quantified realistically up front, you'll waste valuable time debating the issue later on, when you should be closing deals. Unless you’re hiring a psychic, be wary of guarantees.


“You only pay us for qualified leads.”

This is our favorite.  Human nature is impossible to change.  If you’re attaching a dollar value to a lead and if that dollar value is the only source of revenue or income for an individual or a company, you’re playing with fire.  The “leads” that typically flow from these efforts often are more “suspects” than prospects. At first blush, the financial model is tempting. The result is typically disappointment and lots of wasted time and effort for your team.

“We’ll shorten your sales cycle.”

Focusing on your selling cycle (the time it takes from first conversation with a prospect to first engagement) is a formula for frustration.  What really matters is your prospects buying cycle.  When you understand the decision making processes across your prospect universe, you’ll understand the value of a consistently full sales pipeline.  If you suffer from the “feast or famine” dynamic created by the Seller Doer model, ask us how to bring in business at a consistent, manageable, profitable pace.

“We’ll get results in a week.”

Unless you’re selling Girl Scout cookies or magazine subscriptions, you don’t want anyone representing your firm to the market until they truly understand your business and your culture.  You’ve spent years becoming a subject matter or technical expert.  Use our expertise to put a thoughtful, well designed plan in place before you start any go to market activity.

“We just need more leads.”

With buying cycles of 6 to 18 months for high end services, the challenge for most professional service firms isn’t capitalizing on immediate opportunities, it’s maintaining contact with longer term (but very real) opportunities.  The first conversation is only the start of what should be an ongoing stream of communications with long term prospects.  If you have no plan to nurture and capture long term leads, you’re squandering as much as 75% of the pipeline you’ve paid to build. Ask us about our Opportunity Management process. 

 

 

 

 

Praxes Group
P.O. Box 2577
South Portland, ME 04116  
207-772-1178