It was in the BAG, except it wasn’t. I couldn’t believe the reason my proposal was rejected. Here’s what happened 👇
In the early 2010’s I was introduced to this family business (manufacturing) run by an entrepreneur and his two kids.
They wanted a strategic plan and since I had a manufacturing background, we really hit it off.
I sent my proposal for $25,000 and they didn’t bat an eyelid. Everything checked out:
✅ Trust between seller and buyer
✅ My team’s experience (especially since I was leading the project)
✅ Our understanding of what they needed
✅ Our solution
✅ Our fee
✅ Our timeline
But then when I reached out with a contract, they said No.
I couldn’t understand it.
Was it cold feet?
Had they found someone else?
Had something changed in their business?
But it was none of the above.
The real reason was that one of the kids was getting married and was planning on having a destination wedding at Jasper, Alberta (pictured below).
So they had to choose between investing in our proposal or spending the money on the wedding. 🤦♂️
I was really disappointed we lost the gig but here’s what I learned:
When you sell to small businesses, you don’t simply compete with like-to-like competition. You don’t even compete with business priorities.
⭐ You compete with business AND life priorities.
A wedding. Sending a kid to university. A family medical emergency.
Looking back, I think one of the mistakes I made was not probing WHY making an investment was a priority for this client right NOW.
Maybe if I had been a more mature salesperson with better discovery skills, I could’ve turned that situation around.
But it wasn’t to be. Multiple follow ups didn’t bear fruit and the moment was over. So I moved on.
So, if you’re selling to SMBs, keep in mind that it’s seldom going to be a linear sale. Just because it’s a small business, it doesn’t mean selling to them is always straightforward.
Keep sharpening those discovery conversation skills!
Ready to add $100k-$500k revenue to your consulting business in 12 months or less without burning out? Schedule a call and let me show you how.
Image credit: Dalle-3
