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May 16, 2016 . by Frank Visgatis

Avoid “Proposal Fallacy”

sales, selling, sales processThere is a psychological term called “the gambler’s fallacy” that explains why a gambler in Las Vegas playing, for instance, the roulette wheel, would bet on a certain set of numbers just because another set has come up repeated times. In other words, they think that just because the second group of 12 numbers on the roulette wheel (i.e. 13 through 24) has hit three times in a row, that somehow that makes the probability of one of the other groups (1-12 or 25-36) hitting next is higher. The reality of the situation is that the odds do not change at all based on what numbers have come up previously.

Many salespeople suffer from a similar ailment, one I’ll call “the proposal fallacy”. For instance, they mistakenly believe that since the last three proposals they sent out did not close, that somehow the likelihood of the next closing is somehow higher. Rather than consistently and aggressively qualifying deals before issuing proposals, they mistakenly think that if they just “up” their activity level, the odds will swing in their favor.

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Frank Visgatis
Frank Visgatis

President & Chief Operating Officer, CustomerCentric SellingĀ® - The Sales Training Company

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