Listening For Bad News: When To Stop (Or Continue) Investing In Prospects

Bob Ramsay, the President and majority owner of a medium sized consulting company, has just finished an awful week.

On Monday, Mary, one of Bob's business development managers, told Bob that her biggest potential project was being delayed for at least six months by her client. The client's reason? "We're going ahead with another project that has a higher return on investment. We'll call you again in six months."

On Friday, Lance, another business development manager, delivered even worse news. After Lance and his team had invested six months of intensive effort, their biggest prospective client had decided to proceed with a competitor. Why this decision? "Not only was your price too high, you didn't understand all of our needs."

Bob is stunned by the wave of bad news.