Startup for Startup ⚡ by monday.com
63: How to bounce back from losing a massive deal
Jun 23, 2020 · 40 min
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Many of monday.com’s users join the platform without a salesperson being involved. With the company’s change in strategy and the decision to focus more on enterprise accounts, the need for salespeople rose. Each sales deal requires not only an Account Manager to be involved, but an entire team of Account Executives, security and privacy experts, Legal Counsels, and more. So when a deal closes, we all take a moment to celebrate their accomplishments and the hard work they did to get there.

But, like everything in the startup world, the sales cycle is also one big roller coaster. And when everyone puts so much effort and a major deal ends up not working out - you can get hit hard.

So how do you cope with the understanding that you may not reach your quarterly or yearly goals? How can you communicate the loss of a deal with an entire team that is waiting for you to close it successfully? And how can we make sure we are learning from every deal, even the ones who we didn’t complete?

This week we are talking to Rick Schwartz and Graham Rowe, Senior Enterprise Account Managers at monday.com, directly from our office in New York :) Rick and Graham tell the story of two sales deals, each with the potential to add more than 100K to the company’s annual recurring revenue, which after significant work were simply… canceled. Rick and Graham share how to rise up after failing, and how to get a feeling of closure even on deals that did not succeed.

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