Well, this makes two blogs in a row where the title says it all!
So, you are an approved supplier. Sure hope so! You HAVE to be an approved supplier to get in on the deals in 2025 (entry level stakes). But that does not mean that all of the deals you pursue are qualified.
You know what we mean by qualified, right? We ask because some Salespeople do not know what qualified means. They believe that since their company is an approved supplier (on the deck) that life is good & they can quote and quote and quote. And they quote . . .
Approved and Qualified are TWO COMPLETELY DIFFERENT THINGS.
Approved means they (the prospect) buys what you sell, and your company has done the necessary things to satisfy the prospect (or customer) as a supplier. It’s step one. It has to be done for you to continue in any account.
Approved Supplier status DOES NOT mean that the individual deals are “qualified.” There is still a lot of work to do.
Qualified DOES NOT mean you are an “approved supplier.”
Qualified means that the opportunity (the project) is qualified (we have all the information we need to quote properly).
Qualified means you know these 3 things:
1. They have an issue, challenge, problem (let’s call it PAIN) that they admit to wanting to fix or change & you have discussed it
2. They have the money to pay for it (& you have determined the amount &/or had the “money conversation”)
3. You understand who all the decision makers are & know how they go about making these decisions (the process)
As we said earlier, this takes work. So many Salespeople let their guard down & take short-cuts because after all, “we are an approved supplier, they know us.” Ask yourself this question: How many deals in the last 6 to 12 months have you NOT landed at customers where you are an approved supplier AND they know you? Enough said. Safe to say, it takes work.
It takes work AND strong discipline to do this. Discipline to set solid expectations. Discipline to ask all of the questions (even the hard ones). Discipline to say NO to an opportunity (disqualify). Discipline to never assume anything. Not an easy thing to do, whatever the industry.
Try this:
The next time you identify an opportunity at a current account treat it as if it were the first one. Yes, it will be difficult to do this (you know people, you have business there, they may “love you,” you have relationships, etc.)
All of these things combine to make a very dangerously delicious recipe for taking short-cuts. Sounds like, “Oh, we should be good with that . . . I know George & we talked about it . . .” What does that mean? Means nothing! Or, the last time this happened Sandra took care of that . . .we should be OK . . Sandra is good to us. Again, means nothing.
- Set solid expectations.
- Ask all of the questions.
- Head on a swivel (pay attention and read the room).
- Be patient.
The business is out there for you. It’s just not going to be handed to you because you are an approved supplier.
