The USOC, even with help from Oprah and the Obamas, could not close the deal. Despite being the odds-on favorite to win the bid for the 2016 summer Olympics, Chicago was eliminated in the first round of the finals by the IOC. What sales lessons can be learned from Chicago's loss?

Bidding for the Olympic Games is the truest form of a complex sales cycle. A significant investment of time and money is required just to participate in the process. Losing this type of deal, especially late in the game, is a heart breaker.

So what mistakes did the USOC and Chicago make in the sales process? Several things:

Alienate the decision makers - This past summer, the USOC announced plans to launch a cable TV network, without the official buy-in from the IOC. This brazen plan angered many within the IOC and deepened their distrust and dislike of the USOC. The plan was eventually aborted days later.

Appear unstable at the top - The USOC has cycled through six CEO's in the past nine years. Current President Stephanie Streeter was hired just seven months prior to the October 2nd bidding process and made minimal efforts to build relationships with key decision makers. Coming from the printing industry, she had no prior experience in international sports. Ms. Streeter resigned a few days after the failed bid.

Not understand the decision criteria - The Olympics are more than just a business event - they are a worldwide celebration of excellence, sportsmanship, and culture. Chicago's final presentation generated no emotional response from the voting body. Deciding to focus on what the games would mean to the City of Chicago, the pitch failed to show how a broader constituency would benefit. By contrast, Brazil's main message stressed a Rio games would raise the acceptance of the entire continent.

Focus on the pitch, not the relationships - Chicago thought that it was all about the pitch. Enlisting help from Oprah and Barack Obama, Chicago was hoping star power would secure the win. Many IOC members were offended by Chicago's lack of effort to build relationships prior to the voting. The team made last minute efforts (led by Michelle Obama) to meet with key IOC voting members. Brazil, by contrast, spent months entertaining and building relationships with the voting members.

Show lack of commitment - Until the 11th hour, it was not clear if the City of Chicago would step up and fund any financial deficits. All the other bidders included financial guarantees as part of their proposal right from the start.

The outcome is not a surprise if you look at other factors such as the world's dislike of the USA and the Olympics never being held in South America. I would like to know how the odds-makers determined Chicago as the city to beat.

Take nothing away from the Rio delegation - they did an amazing job of selling the city, Brazil, and South America to the IOC. We should all remember how important passion is to the sales process.