Knowing When to Fold ‘Em: Closing the Book on a Lead

In a game of poker, one of the hardest things to do for a gambler is to bow out when their hand is subpar. It’s easy to fall in love with the pot and all the cash that comes with it. Knowing when to call it quits and fold is a huge part of playing smart. The same is true in sales. And, unless you are a career scam artist, bluffing isn’t really an option. Sometimes, no matter how you spin it, a lead is just a poor fit. In this case, continuing to talk, follow up, and pursue a lead will result only in wasted time and money. You can fall in love with a lead and devote energy and resources to landing them that you could have otherwise spent on attanable endavors. Sometimes a lead doesn’t even know they’re not a fit and can “lead you on” so to speak. That is why asking questions is so important. I just took a call this afternoon with a woman in southern Ohio interested in us putting on a workshop for adults and being a half hour segment in their show in the park. However, they very little funding. In order me to pull this off, I have to bring a team down from Cleveland and feed them, meaning gas and food costs. This leaves very little room for me to pay my performers for their time. She kept the conversation going about how they could find money in sponsors and from other city funds, but it didn’t sound promising. And even if they could cover the costs, it would be a lot of driving for a very little deal. So, if she calls back, I may close the book and stop wasting time. The same happens on the other end of the spectrum. I recently quit following up with a seven thousand-seat arena in Arizona because it simply doesn’t fit with the cost structure. I did the same thing with a stadium in Dayton. Sometimes, in the wise words of Kenny Rogers, you need to “know when to fold ’em”