Turn Business Rejections into Success Opportunities
Rejection happens to all of us. Even the best in the business have been rejected at some point. Don’t take it personally; instead, allow failure to spark new thinking.
Every no you receive is your ticket to yes. Maybe not with the same customer, but you can learn from rejections, make improvements and uncover new opportunities. Your next pitch will be better than the last one.
We all want to win. Moving on when we lose a customer is easier said than done. Whether it’s a major deal or a small one, it’s hard not to feel disappointed. Here are ways you can manage your feelings and get back on track fast.
Articulate your feelings
Whether you feel comfortable talking to yourself in the car or writing down your thoughts, you’ll feel much better when you state how you feel about the rejection. Left unstated, rejection forms a vaguely defined feeling that can easily spiral into bigger things. The sooner you take the time to define exactly what went wrong, you are controlling the damage.
Evaluate the reasons for rejection
If a customer has rejected your pitch, your first move is to understand why. Listen carefully to the customer’s reasons behind the rejection. Ask yourself these questions:
- Does it have to do with your offering or something with their business?
- If it is your offering that presents the obstacle, is it an aspect of your offer or the entire offer?
- Did they reference price?
- Did they say they’re happy with a competitive product or service?
Once you’ve learned more about the reasons for the rejection, focus on what you can change and what you can’t. If you see a path forward with that customer, put time into making the changes that may make your offer more appealing. If the problem lies within their current situation, then move on to your next prospect — but stay in touch with the person who rejected your offer. No is not necessarily no forever. In time, their situation may change and your offer may look more attractive. If you’ve cultivated the relationship through consistent touches, despite their initial rejection, you’ve laid a strong foundation for a sale.
Plan your next steps
Once you’ve vented your disappointment and analyzed the reasons for the rejection, you’re ready to pick yourself back up and get into action. Practice your pitch to give yourself confidence. If you identified room for improvement in your analysis of the rejection, make a timeline to complete those changes. It may be a good time to reach out to your network and seek advice from a fellow business owner: an outside perspective could inspire new ideas.
When you experience rejection in business, remember that there’s no limit to how much you can work to improve and grow your business. A temporary obstacle can spur future success.
If you would like to learn more about how this might apply to your business, let’s talk: