Deal fever is like summit fever, when fuzzy thinking brought on by exhaustion and altitude sickness convinces climbers they have come too far to turn back. Oxygen is in short supply on a tall peak, and so is objectivity—which also eludes salespeople fighting to keep alive what might be the biggest deal of their careers, whatever the cost. And because pursuing big deals eats up resources, the longer one is on the table, the more difficult it becomes to walk away.
Deciding when to stay or walk away from potential business may be difficult. How about going back to how you qualified the business in the first place? What is the basis for mutual value? Why are you pursuing the opportunity? Who are you up against? And, what do you need to do to win?
Source: Landing the megadeal: Seven keys to closing big sales that make money | McKinsey & Company