️Episode 119 – Premature Consulting Proposals: A Costly Mistake To Avoid

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Today’s podcast episode outlines the consequences of submitting premature consulting proposals and how to improve your sales process to avoid this common consulting mistake. 

Whether you’re reacting to a client’s urgency or operating off of overconfidence and assumptions, these premature proposals miss the mark and can cause you to leave money on the table or even to lose the consulting deal entirely.

It’s crucial that consulting proposals aren’t written too early. 

We are all guilty of writing proposals early. In fact, I still struggle with this occasionally. 

If you are ready to learn strategies to avoid writing proposals prematurely, this episode is for you.

Listen in while I share:

  •  What a premature proposal is
  • The impact of writing premature proposals
  • Indicators that you are submitting proposals too early
  • Examples of premature proposal scenarios
  • Six strategies to avoid writing premature proposals
  • Accompanying resources to improve your sales process

Tune in to understand premature proposals’ negative impact on independent consulting businesses and learn strategies to avoid making this common business mistake. 

KEY POINTS IN THIS EPISODE:

  • [00:55] Inspiration for this topic
  • [03:40] Episode agenda
  • [06:00] What is a premature proposal?
    • [07:30] What a premature proposal looks like in the consulting industry
  • [8:20] Impact of submitting a premature proposal
    • [08:35] Extends the sales cycle
    • [09:30] Leaves money on the table
    • [10:20] Lose the deal
  • [10:30] Indicators that you are working on a premature proposal
    • [10:45] Client indicators
      • [10:58] Not clear on client needs/priorities
      • [13:08] Unclear on decision making process
      • [14:05] Client is in a hurry
      • [14:46] Client isn’t ready
      • [15:40] Limited relationship or trust with the client
    • [16:46] Internal indicators
      • [17:00] You feel pressured or reactive to a request
      • [17:20] You lose control of the process
      • [18:10] You feel like you have something to prove
  • [18:50] Root causes – Why you are writing premature proposal
    • [19:00] Missing sales skills
    • [21:50] Used to reacting to people, especially those with seniority
    • [23:25] You make too many assumptions
    • [23:50] Overlook the opportunity cost
    • [24:40] Negative mindset
  • [27:00] Examples of premature proposal scenarios
    • [27:15] Urgent situation with client
    • [30:00] Priorities shift during the sales cycle & you miss the mark
  • [33:45] 6 Strategies to avoid writing premature proposals
    • [33:55] Have a sales process
    • [35:05] Be intentional, not reactive
    • [36:00] Reaffirm priorities as you go
    • [36:25] Set your own criteria for qualifying the need for a proposal
    • [36:50] Work retrospectively
    • [38:10] Ask a lot of questions
  • [39:10] Accompanying resources for this topic

MENTIONED IN THIS EPISODE —

FOR MORE RESOURCES SPECIFIC TO THE INDEPENDENT CONSULTANT —

  1. Discuss working with me as your coach – Click here to schedule your consultation
  2. Watch my YouTube Podcast Channel 
  3. LinkedIn 
  4. Website 

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