It’s a Pitch, Yes! But also a Negotiation
“Be careful what you Pitch for; you might just Win it!”
-Nina Rolaine Stetson
American Planner, Renowned Pitch Meister
(1959 – )
Pitching teams are faced with layer upon layer of demands for information and compliance with “selection procedures.” In the light of Sarbanes-Oxley and Terror Security concerns, it’s perhaps not surprising that client demands have become draconian. It’s a difficult decade. But be warned: In a day when you’re likely to be “searched, screened and patted down” while getting to the pitch, you may also be shaken down at the pitch.
It feels like “War.” The team is sequestered in the “War Room,” the walls plastered with charts, graphs and graphics. Nobody has slept. The entire team is on Red Alert! All other business slows down as the focus narrows to this particular goal. It goes with the situation: You want this business! It’s a plum client – a major win! Naturally you’re pushing hard. You’re putting everything on the line. And you’re in a “giving” frame of mind – inclined to give a little here and a little there in the all out attempt to capture the account. Danger! Danger!
Pause for a moment and breathe! In the headlong attempt to be responsive to demands for ever more data and more service, have you lost sight of the fact that selection processes can (and should) work both ways? You’re being weighed and measured, yes! But shouldn’t you be measuring, calculating and deciding about them as well? Yes it’s a pitch, but unless you realize that it’s also a negotiation; you can win the pitch and lose your shirt by giving up too much – failing to notice that you’ve moved from the pitch into the negotiation.
Our clients have discovered that a “Counter Brief” is a powerful differentiator, and restores a degree of balance to the often one-sided list of demands and favors on the prospect’s shopping list.
* “We have received your brief and will be responding forthwith. As part of our New Business Onboarding Process, there are a number of areas about your firm, your business and your client base with which we’d like to become familiar. The enclosed list comprises a foundation upon which we can build a relationship.”
* “Certainly we’re happy to comply with your demand that our employees undergo drug testing at our expense! And when shall we expect your counter filing?”
* “Of course we’ll be happy to divulge our corporate and personal tax returns! Shall we expect your disclosure package by return mail?”
* “We appreciate receiving your Decision Matrix. As this is a decision with equal impact on our organization, we have assembled a Matrix of Decision Considerations upon which our Account Management will base its decision. Please let us know if there are terms which require additional exposition.”
Of course, the prospect has options for how to respond: “OK, No, Perhaps, or Let’s dial that back a little!” Their response is up to them. But the response will signal who they are and what kind of relationship is in store. In deciding how to respond, they must also distinguish between you and the other teams pitching, reaching – but (we hope) not over-reaching for the business.
Winning a bad piece of business is just as dangerous as losing a good piece. Winning is more than facts and figures. It’s setting yourself apart through the rigor of your process. Being backed against the wall by an aggressive prospect is no indication of a profitable partnership.
Win absolutely, but on the right terms!
Applications:
1. Personally
How many times have you seen people lose their head in an auction and overbid? Put an ordinary product in a competitive bidding situation, and you can easily destabilize normally shrewd players. Perhaps it’s an eBay purchase, maybe a car or a job. Maybe you’re considering acquiring a collectible or a piece of art. The principles are the same: You can offer everything and lose – in which case you still have what you came with. Not such a defeat. Or you can offer everything and win – only to discover that you’ve been taken. Not such a victory. Don’t get distracted by the hope of winning!
2. At Home
In many cases we become familiar with these lessons by trying desperately for acceptance by the “IN Crowd;” only to discover that hollow feeling of being welcomed into a group which requires us to become smaller. The residential community looks great from outside! Do they have hidden restrictive covenants? Is there a lifetime contract with the cable company camouflaged in the Community Documents? Have the kids discovered that they are “Outsiders” in the town to which you’ve just moved? Perhaps a term as an outsider is a prelude to discovering the pride of being comfortable in one’s own skin and company. Don’t let the family get distracted by winning, and thus, lose.
3. At Work
When there’s a Pitch, everything gets put aside. This necessary focus on a potential win can obscure the nuanced terms that must be a part of a genuine partnership. While you’re focusing on what to say, how to look and who’s going to present what – make sure to shrug off the hoopla and assign someone to focus on the specific contractual terms, fees, amounts, percentages and timetables which can make the difference between a “devastating win and a profitable loss.”
Win the pitch by all means! But don’t lose your shirt!!
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