Why a "Loss Review" will Make You a Better Sales Person

ChatGPT: "Act as an experienced sales consultant and analyse the details of a recent lost deal. Ask the following questions one at a time: provide specifics about the customer, their needs, the solutions offered, the decision-making process, objections raised, and the final outcome. Based on this information, identify potential missed opportunities, gaps in the sales approach, or alternative strategies that could improve outcomes for similar pitches in the future. Please provide actionable insights and recommendations to enhance the likelihood of success in similar scenarios. Begin with question one now."

Everyone has a plan until they get punched in the mouth. - Mike Tyson

One of the hardest sales losses of my career came during the COVID period. It was a big opportunity. Winning would’ve boosted both my revenue and my reputation.

Throughout the tender process, the customer was tight-lipped. But the feedback we got through the grapevine was encouraging—they were leaning our way.

Then came the blow: a short, four-line rejection letter from the commercial team. Polite. Appreciative. But clear—we didn’t win.

I was gutted. But after the initial sting, I became curious. I needed to understand what went wrong. We requested a Loss Review.

It was a bit uncomfortable at first, but it changed everything.

The Power of a Loss Review

1. It Turns Emotion into Clarity
Hearing the customer’s actual reasons gave me immediate insight into what mattered most to them—and where we’d missed the mark. It wasn’t about blame. It was about facts. Real feedback replaced assumptions.

2. It Sharpened My Sales Game
That one conversation influenced how I approached every deal after. My mental models were no longer based on what I thought the customer valued—they were shaped by what real customers had told me. The lessons stuck.

3. It Built Credibility
Asking for feedback after a loss showed the customer we cared about more than just the sale. It showed we were professionals who wanted to grow. That matters—and it often reopens the door later.

Since that moment in 2022, I’ve used Loss Reviews the same way I use Discovery Calls—as a critical tool to improve my effectiveness and win more business.

It’s not about licking your wounds. It’s about getting stronger.