In 1983, Warren Buffett’s Berkshire Hathaway bought a home furnishing store for $55 million (serious money 30 years ago and not bad today). The deal was done on a handshake. Even though the company’s financial statements had never been audited, Buffet didn’t ask for an audit. He didn’t take inventory … or verify the receivables … or check property titles. Why would a man renowned for his due diligence take such an outsized risk on … [Continue reading]
Break the “Curse of Knowledge” before it kills your pitch
Last week I had the opportunity to provide one-on-one pitch coaching for five different entrepreneurs. It was a lot of fun. This was part of a startup competition (similar to Shark Tank) hosted by Cox and Inc Magazine. One of the concepts we covered in each session was a sales messaging principle that applies equally to startups and Fortune 500s: be incredibly specific. It sounds obvious, but it doesn’t come naturally. Here’s why. You’re too … [Continue reading]
How to answer tough questions in your next B2B sales pitch
Pivoting away from a hard question may work in political debates, but it’s not how you win customers in the B2B world. To allay prospects’ concerns and earn the kind of trust that results in a deal, you’ve got to address pushback questions directly. Here’s what to do next time you’re challenged by a tough question in a B2B sales pitch. 1. Realize your prospect’s pushback is genuine. You can’t just brush it off. Questions … [Continue reading]