Winning New Business For Dummies

Chapter 18

Managing the Perception of Risk

IN THIS CHAPTER

Defining risk for prospects and companies

Handling risk in a variety of ways

Making sure a deal doesn’t die due to risk

In this chapter, I discuss the role of risk and its mitigation in a new business sales environment, specifically how to mitigate risk in a business solutions context. Risk management is a complex topic, and many books are dedicated to the subject alone. Here, I just try to highlight the issue and give some pointers on what you can do to allay the fear of risk. I don’t intend this discussion to be chapter and verse on dealing with risk because it’s far too complex a topic to cover in a single chapter.

Nothing is without some form of risk, and nothing worth achieving is ever done without an element of risk. I define managing the perception of risk simply as understanding the issues and taking steps to reducing adverse effects.

Some people are risk averse, and if you come across prospects who fall into this category, then your sales efforts won’t be as straightforward as they otherwise may have been. It’s also worth remembering that from the prospect’s point of view, doing nothing to address his business needs ...