FOCUS YOUR TIME AND MONEY Don't Chase Weak Leads.(LEADERS & SUCCESS)(IBD'S 10 SECRETS TO SUCCESS)

Byline: Robin Grugal

7 If you're in the position of having to bring in new business, you might be feeling desperate right about now. But don't get teased into chasing leads that hold little or no potential. This is no time to be wasting precious time and resources.

It may sound counterintuitive, but you're better off playing hard to get in times like these, says Dave Stein.

The corporate coach has spent the last 20 years training the sales forces of such prominent companies as Bayer, IBM, Oracle, Hewlett-Packard, NEC, McGraw-Hill and Pitney-Bowes. Sure, you're trying to meet revenue targets. But now more than ever, you need to be choosy and not take on just any client that comes your way.

"In economically challenging times, you need to be much more discerning when it comes to which companies or firms you bring on as a customer or client," he said. "Who makes up that revenue shortfall? The prospective new customers who can provide you with better quality business, and selected existing customers on whom you may not have been focusing appropriate resources."

Stein offers the following advice for qualifying clients. Some of the tips come from his book "How Winners Sell: 21 Proven Strategies to Outsell Your Competition and Win the Big Sale."

Beware of first impressions. Don't be fooled by the false attention of prospects who tell you what you want to hear, Stein says.