Why Urgency is Everything in Sales and Business Development

I once heard a phrase in my sales career "time kills all deals." At first, it did not have much meaning to me until I experienced it myself. Whether it is complex (long sales cycles) or simple (short sales cycles), this phrase has proved itself to me to be true time and time again.

Last weekend, I went to replace my Air Pods at a certain retail location. I had made the mistake of leaving them in my workout pants pocket and they made it to the washer, in my pocket - and that was the end of their life. As I walked in the store to buy a new set of Air Pods, there was no greeter. I wandered in among the crowd and caught a salesperson. "Wait over there, and someone will be right with you," I heard. I did just that. A couple minutes turned into 10+ minutes...

I decided not to wait any longer and inside the store, I went online to see if I could find the Air Pods elsewhere, and I did, from a well-know online retailer - $30 less than the price at the store I was at. I clicked, made my purchase, and walked out of the store. I proved again that "time kills all deals." My purchase was made, and the store I was in lost my sale.

In sales and business development, urgency is not just a tactic; it's a necessity. The phrase "time kills all deals" is more than just a saying—it's a reality.

Why urgency is everything: Here’s why urgency is crucial and how it can transform your sales strategy.

Risk of Inaction and Indecision: The longer a sales process drags on, the more likely it is that potential clients will lose interest, get distracted, or find alternative solutions. The more people that are involved, the more likely your sale will not be lost to the to the competition - but to "indecision," meaning the customer is now avoiding making a decision.

Solution: Confirm and reconfirm the prospects buying process: their timeline, who will be involved, and decision criteria early in the sales process, and often.

Act Now: Procrastination is the killer of action, sales, and results. Returning calls and emails promptly is essential. Delays can signal disinterest or lack of professionalism, causing potential clients to question your commitment.

Solution: Quick responses show that you value their time and are eager to meet their needs, building trust and rapport.

Get to a "no" quickly: Getting to a "no" quickly is often more beneficial than chasing a dead-end lead. Spending too much time on prospects who are unlikely to convert can drain resources and energy.

Solution: By identifying and moving past non-viable leads swiftly, you can focus on those with genuine potential, maximizing efficiency and productivity. Pay attention to red flags and be confident and walk away from a dead end prospect or sales opportunity.

Be Consistent: It's also important to remember that it often takes multiple touchpoints—sometimes up to seven—for a prospect to say "yes" or even respond.

Solution: Consistent follow-ups demonstrate persistence and dedication, keeping your offer top-of-mind without being intrusive.

Avoid Hesitation: One of the biggest mistakes in sales is moving too slowly. Hesitation can lead to missed opportunities, as competitors may swoop in with quicker solutions. Additionally, failing to recognize and act on buying signals can result in lost sales.

Solution: Do not overthink your strategy. Ask for support from a mentor, guide, or coach if you are unsure of your next step.

In conclusion, urgency in sales and business development is about maintaining momentum, showing commitment, and efficiently managing your time and resources. By prioritizing urgency, you can close deals faster, build stronger relationships, and ultimately drive greater success for your business.