Business Chops Tip #45: Are You Ready To "Value-Engineer" a Project?
Sometimes the best sales people get hit with last minute curveballs from their customers. How often has it happened that you are about to close on a carefully designed system, and the customer tells you their budget has decreased dramatically?
Re-specifying what will be a very different system from the original requires expertise and process time. However, it should not derail the potential for closing the sale. Savvy custom retailers have contingency plans- smaller scale and lower cost alternatives "at-the-ready" to ensure that even if the budget downsizes, the customer isn¹t lost to a competitor. Always be ready to value-engineer.
Author's Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their "chops": those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.