BP350 : Decision Making (Framing, Gathering Intelligence, Coming to Conclusions, and Learning from Experience)

AJ Ansari, InterDyn BMI

InforIFSOracle

SAPNetSuite

SysPro

EpicorGPAX

NAV

Decision Making

The cognitive process resulting in the selection of a course of action among several alternative scenarios.

-Wikipedia

• Competing Products

• Competing VARs / Vendors

• The Status Quo

• Moods

• Pre-Existing Biases

• Other Conditions and

Circumstances

The Decision Making Process

Recognize a

Need

Search for

Information

• Where we come

in

• Can our prospects

find us?

• Referrals,

Marketing, SEO,

Social Media

Evaluate

Alternatives

• Opportunity to

differentiate

• Respond to

Objections

• Highlight

competitive

advantages

Buying

Decision

• Limited

opportunities

• Sweeten the pot

• Proof-of-concept

Post-

Purchase

Evaluation

• Learning

opportunity,

regardless of win

or loss

The 2% Factor: So Near Yet So Far

The difference between winning and coming second is usually… 2%*

We couldn’t bridge the gap. Now what?

• A time for moral victories?

• Or a catalyst for improvement?

* Source: http://tiny.cc/jq1m4w

Keys to Winning

Connecting with your Prospect

• Willingness to listen & learn

• Ability to uncover needs

• Understanding the Decision Maker’s Personality:

What makes them tick?

A Strong Product or Solution

• Features & Functionality

• Competitive pricing

• Your Knowledge of Product

• Your Ability to Demonstrate

Connecting with your Prospect

We know to tailor our demonstrations and sales pitch for

each prospect based on their business

But are you tailoring your message to appeal to the

personality of the Decision Maker(s)?

The Human Brain & The Decision Making Process

IntuitiveRational

9 Personality Traits in the Marketplace

1. The Improver

2. The Advisor

3. The Superstar

4. The Artist

5. The Visionary

6. The Analyst

7. The Hero

8. The Fireball

9. The Healer

Source: http://tiny.cc/ho1m4w

9 Personality Traits in the Marketplace

The Improver• Want their company to improve

the world

• High emphasis on integrity and ethics

• Perfectionist

• Over-critical of employees,

customers & vendors

The Advisor• Highly Customer-focused

• Desire to assist and advise customers

• May focus too much on clients and ignore the needs of own business and employees

• Work too hard and burn out

9 Personality Traits in the Marketplace

The Superstar• Very charismatic, high energy

• Personal Brand

• Highly competitive

• Workaholic

The Artist• Reserved and Creative

• Likes to be surrounded by unique talent

• Overly sensitive to criticism and feedback

• May have a negative self-image

9 Personality Traits in the Marketplace

The Visionary• A Vision for the future

• Demonstrates curiosity to understand the world

• Has the foresight to plan for landmines that may lie ahead

• May be too focused on the dream and less on reality

The Analyst• Focus on a systematic approach

• Good at problem solving

• Beware of Analysis Paralysis

• May have less trust in others’ ability

9 Personality Traits in the Marketplace

The Hero• The quintessential entrepreneur

• Ability to lead through challenging situations

• Tendency to over-promise

• May resort to forceful tactics

The Fireball• Full of life, energy and optimism

• Focuses on a positive attitude and fun, playful environment

• May be too impulsive

• Can over-commit their teams

9 Personality Traits in the Marketplace

The Healer• Focuses on nurturing

• Promotes a harmonious environment

• Too much wishful thinking and avoiding outside realities

• May be unprepared for turmoil

How Self-Aware are You?

• Perception is reality. How are your prospects perceiving you?

• Are you leveraging your strengths and working on your weaknesses?

Knowing is half the battle

Understanding Personality Types

Attitude

Extraversion

Introversion

Information

Gathering

Sensing

INtuitive

Decision-

Making

Thinking

Feeling

Structure

Orientation

Judging

Perceiving

The Myers-Briggs Type Indicator (MBTI)

Strategic Thinking and Decision Making

* Source: http://www.youtube.com/watch?v=DIdD9DiAyjo

Coming to Conclusions: Making Hard Decisions

• There are decisions that are the prospects’ to make

• We can help that process and influence them

• But what about the decisions that we have to make?

Making the Hard Decisions…

• Should we pursue this lead?

• Is it a good use of our time and resources?

• Is this an area we are strong in?

• Can our products and solutions meet the needs?

• Do we have the knowledge and experience to be credible?

• And of course: Can the prospect realistically afford our solution?

Are you willing to Walk Away?

Let’s Get Real or Let’s Not Play *

• Transcend the fear-based relationship between buyers and sellers

• Break the vicious cycle and build trust by focusing on “Helping Clients Succeed”

* Recommended reading. Author: Mahan Khalsa

Please remember to fill out your session evaluation forms.

Thank You!AJ Ansari