What To Do When You Lose A Big Account

At sometime or another, it may happen to you. I know it's happened to me. A big order or steady account that you thought was a sure thing went to someone else. Maybe you've gotten complacent and you weren't nurturing the relationship as much as you should. Or… maybe the company changed hands. It could be any one of numerous reasons. Regardless of the cause, the reality is, in today's highly competitive business environment you can't take anything for granted.
So what should you do?

1. Analyze what went wrong. You can't get every sale, but you can learn from the sales you lost. Learn from your mistakes; everyone makes them. Is there anything you could have done differently?

2. If appropriate, ask for some feedback. You may learn something that will help you with the next big sale.

3. Be prepared for rejection. Even sales superstars experience rejection. It comes with the territory. Move on and maintain your perspective.

4. Don't burn bridges. Keep the door open for more sales by always being professional, courteous and upbeat. Keep in touch with the client via newsletters, articles of interest and special offers. You never know when another opportunity will present itself.

5. Motivate yourself with positive messages and inspiring sales tools. I read several new sales books a month and listen to sales boosting recordings on my computer and in my car. It's a great way to get back on track no matter what happens. (Check out my new program in the next section of this newsletter.)

6. Prospect, prospect, prospect! That way your sales pipeline stays full. And when your sales pipeline is full you don't have to worry about each individual sale. Attend networking events, get active in your community, and generate a referral network with people who service the same target market but aren't direct competitors. Plan a mailing. The important thing is to get out there and meet as many people as possible.