Running at Risk: Stop Avoiding Risk in Your B2B Sales!

And we are back with another issue of the Founder's Sales Circus and this week we will be discussing - How to stop avoiding risk in your B2B Sales.

Early in my career, I used to avoid risk in my deals at all costs. My motto was, “If we don’t talk about it, the buyer won’t worry about it.”

Spoiler alert: that approach doesn’t work. I lost deal after deal as my buyers failed to overcome the risks on their own.

Eventually, I learned to run at risk to help my buyers confidently move forward.

One risk your buyer is ALWAYS worried about is, “What if I buy this, jump oboard and it doesn’t work as expected?”

CFOs dread buying shelfware - solutions that are never used despite hefty price tags.

Your champion fears that what they saw in the demo isn’t real life - vaporware that wastes millions.

Your champion also worries that your “easy to implement” solution might turn out to be a labyrinthine ordeal - months lost navigating a complex implementation.

No matter the specific worry, your buyer doesn’t want to be “that person” who approved a soon-to-be regretted purchase.

Most reps will try to sell past these concerns with ROI studies, customer stories, and reference calls. While these aren’t bad tactics, your customer will likely still be skeptical, thinking, “It’s never as good as they say.”

Instead, I recommend running at this risk head-on. Acknowledge it. Give examples of companies struggling to implement your solution and then explain how you won’t let that happen to your buyer.

This validates their concerns and mitigates the risk by sharing your plan to ensure their success.

Talk Track Example:

“We’ve seen thousands of successful implementations. Along the way, we’ve learned what can go wrong and how to prevent those problems.

The most common cause of a failed implementation is failing to get alignment with IT stakeholders.

What’s the best way to schedule a call with your IT team to walk through exactly what we’ll need from them to ensure a smooth experience?

Involving them now will ensure we hit the ground running.”

Acknowledging that things can go wrong while providing a plan to ensure they don’t will build confidence with your buyer.

They’ll go from thinking, “I may buy this, and it won’t work,” to, “As long as we follow these recommendations, I can move forward with confidence.”

You’ll come across as realistic, transparent, and trustworthy rather than salesy, manipulative, and pushy.

Actionable Tips:

1. Identify Common Risks: Take a few minutes today to list the risks your buyers may be worrying about. Think about past deals where concerns have come up.

2. Acknowledge and Validate: When you identify these risks, acknowledge them openly. Validate your buyer's concerns. They’re not irrational; they’re smart for thinking ahead.

3. Provide a Plan: Share concrete steps and examples of how you will mitigate these risks. Detail your process for avoiding common pitfalls.

4. Engage Stakeholders Early: Ensure all relevant parties are involved early in the process, especially those who will be key to implementation.

5. Communicate Continuously: Keep the lines of communication open. Regular updates and check-ins can ease concerns and build trust.

Running at risk is just the beginning.

To truly stand out and close more deals, you need to embrace boldness in every aspect of your sales strategy. Here are some actionable strategies to help you be bolder and take calculated risks:

1. Leverage Data and Insights

Understanding your buyer's industry, challenges, and goals can set you apart. Use data to predict their needs and offer solutions they haven’t even considered yet.

Actionable Tip: Invest in market research tools and analytics to gain deep insights into your prospects. Tailor your pitches to address specific challenges and opportunities.

Example: “Based on our analysis, companies in your industry have increased efficiency by 30% using our solution. Here’s how we can help you achieve similar results.”

2. Personalize Your Approach

Generic pitches are a thing of the past. Personalize your outreach to show that you understand your prospect's unique situation.

Actionable Tip: Use personalized videos, custom demos, and tailored proposals. Mention specific pain points and how your solution addresses them.

Example: “I noticed your recent expansion into the European market. Our solution can help you manage compliance across different countries efficiently. Let’s discuss how we can streamline this process for you.”

3. Challenge the Status Quo

Don’t be afraid to challenge your prospects' current processes and suggest better alternatives. This demonstrates your expertise and confidence in your solution.

Actionable Tip: Prepare a case study or white paper that highlights the inefficiencies of common practices and showcases your solution as a superior alternative.

Example: “Many companies in your industry rely on outdated methods that cost them time and money. Our solution has helped clients reduce operational costs by 25%. Let’s explore how we can achieve this for your organization.”

4. Build a Strong Value Proposition

Clearly articulate the unique value your solution brings. Focus on the tangible benefits and how it directly impacts your buyer’s bottom line.

Actionable Tip: Develop a compelling value proposition that includes quantifiable benefits like cost savings, revenue growth, or efficiency gains.

Example: “Our solution not only reduces downtime by 40% but also improves customer satisfaction rates by 20%. This directly translates to increased revenue and a stronger market position for your company.”

5. Create Urgency

Instill a sense of urgency to motivate your prospects to act quickly. Highlight the risks of inaction and the benefits of immediate implementation.

Actionable Tip: Use time-sensitive offers, limited-time discounts, or showcase how delays can lead to missed opportunities.

Example: “By implementing our solution this quarter, you can take advantage of our early adopter discount and see immediate improvements in your Q4 results. Waiting could mean losing out on these benefits.”

6. Ask for the Close

Many deals are lost simply because the salesperson didn’t ask for the close. Be direct and confident when it’s time to seal the deal.

Actionable Tip: Use trial closes throughout your conversations to gauge readiness and address any lingering objections. When you feel the time is right, confidently ask for the commitment.

Example: “Given everything we’ve discussed, it seems like our solution is a perfect fit for your needs. Can we move forward with the agreement today?”

7. Develop a Resilient Mindset

Boldness in sales often means facing rejection. Develop a resilient mindset to bounce back from setbacks and learn from each experience.

Actionable Tip: Practice mindfulness and stress-management techniques. Reflect on each deal—won or lost—to identify areas for improvement.

Example: “Every ‘no’ brings you one step closer to a ‘yes.’ Use each rejection as a learning opportunity to refine your approach and come back stronger.”

8. Collaborate with Your Team

Collaboration fosters creativity and bold ideas. Work closely with your team to brainstorm strategies and share successful tactics.

Actionable Tip: Hold regular team meetings to discuss challenges and share success stories. Encourage open communication and collective problem-solving.

Example: “In our last team meeting, we discussed a unique approach that helped one of our reps close a major deal. Let’s apply this strategy to our current pipeline and see how it works for us.”

Remember, a risk acknowledged is a risk half mitigated. By running at risk, you turn potential deal breakers into deal makers and I know you can make it happen!!!....

And this concludes today's topic, I'll catch you next week when we'll dive into...well let's leave it as a surprise (even for me...). Adios.