Atlanta, GA – Know your Customer
A very wise manager of mine at GE named Jim Hoff, gave me some very important guidance regarding Customers. He asked me these two questions:
Does the Customer need what we are selling? If they don’t really need our product or services, they will analyze it to death and waste our time, and
Does the Customer have the money to actually pay for what they are buying from us? Nothing is worse than trying to wring blood from a turnip after the sale.
When you are working on your business strategies and doing your due diligence, select your Customers carefully. You might want to pass on some Customers and let your competitors waste their time on them.
So many times, the sales teams want to win at all costs and not think about the long-term ramifications of what the total cost of ownership is for the Customer relationship.