How to Kill Your Business

While attending an investor meeting, I heard someone say that "product differentiation" is key to all successful B2B transactions. I beg to differ. Businesses don’t buy products; they buy relationships. When I was an executive in a large corporation, I only bought products and services from major companies like IBM. I did this because it was safe. Nobody blamed me if IBM messed up. But if I bought from a small startup and things went wrong, I would have been blamed for the mess.

When I co-founded my own startup, I understood the sales process. I knew that my target executives would not consider my small startup unless they trusted me. Product differentiation doesn't build trust. What builds trust are shared personal experiences. Savvy salespeople understand this dynamic. They do not hunt down a decision-maker to talk about product features and functionalities. Instead, they talk about challenges with their kids' schooling, taking care of sick parents, struggles with work-life balance, burnouts, meltdowns, defeats, and triumphs.

People trust you when they connect in deep, meaningful ways. The best way to kill your business is to talk only about your products.

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