So you are pursuing an opportunity and find out that competitors are ahead of you or more entrenched than you currently are. Should you bail or continue to move forward?
When to continue
It can be a tough decision. Some ideas on when you should consider continuing:
- Prospective client’s interests/challenges align with your capabilities
- Significant potential beyond the current opportunity
- Changes taking place at the prospective client organization (that drive them to re-evaluate their partners), such as:
- Significant growth
- Dramatic reduction in business
While your chances of winning the current opportunity may not be high, there are several reasons investing time might be worth it, including:
- Creating opportunity to open key relationships
- Promoting capabilities/value where previously difficult
- Learning about competition
- Identifying how prospective client makes decisions
Certainly you want to prioritize some of your time on the quick/easy wins. Some wins require more time and patience…investing time now may pay off in the long run!
Feel free to contact me directly for ideas and/or help on this or other topics!
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