7 Mistakes that Push Away New Business
When you’re fortunate to have new business come knocking at your door, it’s still far from a done deal. Winning over a client takes time, patience and strategy. In my industry, things always begin with an initial client phone call or an in-person meeting. This casual, first meeting is the opportunity for both parties to feel each other out. Do our visions and values align? Do we share realistic expectations for what can be accomplished with the given budget and time frame? Most importantly, is there chemistry? No, nothing romantic, just a good synergy that will help create a productive working relationship.
Even if all of these things appear to be on target, there are still quite a few ways in which I can push away this new business, if I’m not careful. While the ability to read a client and build a strong connection from the start isn’t something you can necessarily teach, there are a few obvious mistakes you should avoid when trying to win over a new client. Save yourself some future regret but taking note of the next seven items on this list!
- Being unresponsive
The first mistake you can make is to be anything but highly responsive to your prospective client. This is the first impression you make. If they call you to learn more about your services, respond to them same day. Even if you’re not able to connect by phone, the least you can do is email them to set up a time for a future phone call or meeting. Carry this level of responsiveness into every phase of working with this client. Chronically late responses are a red flag to the client that you may not be the easiest person work with.
- Acting like you have all the answers
In your first client meeting, don’t come in there like you have all the answers. You don’t. You’re meeting this client for the first time and you likely know little about the industry and nothing about their business (more than a website and social media can tell you). I know in my case, people call me in because there are serious internal problems taking place. This is something you can’t know simply by Googling them. Come ready to listen, take notes and ask questions.
- Lacking examples of your insight and experiences
While you don’t want to come in acting like you know everything about the client’s particular business, you do want to walk in ready to prove your knowledge and expertise. Offer plenty of examples of past client success stories that relate to the services you may provide to this new client. Real-world examples are not only powerful, they are memorable. Additionally, be prepared to offer some examples of new ideas you have, tailored to the client’s needs. Make them feel like you’re offering fresh solutions and not something canned that you provide to every client.
- Pushing a client toward a final decision in your first meeting
Let the first meeting be a no-pressure zone. If you do a good job selling yourself, there is no need to pressure a new client into making a final decision as to whether they want to work with you right then and there. In fact, it’s likely going to be in your favor to have them sleep on the ideas you presented and to get even more excited about them! Don’t be so desperate to close the deal that you end up closing the door on yourself.
- Leaving the first meeting with no action plan
Just because you’re not going to pressure the new client into a final decision doesn’t mean you can’t have a clear path for the next steps you will take toward that final decision. You need to leave the meeting with an action plan in place. If possible, leave with the ball in your court. That means it’s on you to get the client a proposal or follow-up with additional information to help them make a decision. This gives you the power to reach out to them on your terms, rather than waiting to hear back from the client.
- Not following-up
This loops back to mistake number one and the need to be responsive. Just as it’s important to be responsive, it’s equally important to initiate a response. Give the client some space after your first meeting and after you’ve provided them with a proposal and an outline of next steps. Then, about one week later (or if they specified how much time they need), follow-up! Keep it short and sincere. Ask them if they have any additional questions you can answer. Or if a new idea has come to you, share that with them – along with your enthusiasm for working with them soon. These techniques enable you to stay in touch without nagging them.
- Charging a new client for your business development time
Another mistake that pushes away new business is charging for things like your first consultation meeting, putting together a proposal or any other initial communications. If you’re properly vetting your leads, you should be closing just about every new client meeting you take. Your time spent in business development stands to yield far more profit in the long-run than the couple hundred dollars you may make charging your client for every interaction. Furthermore, the practice of nickel and diming a client is sure to make them question your business practices and possibly scare them off altogether. Do your homework, qualify your leads and then invest that initial time at no cost, knowing you have a great shot at making it back ten-fold!
Have you made any of these same mistakes and found that it pushed away new business? Or can you think of something else that is missing from this list? Share your ideas by leaving a comment below!