How much time to invest in a potential client?

We have all been there. Shop owner, insurance salesperson or business mentor like myself; We are about to reel in a client, but they keep putting off the decision.

How do you know when enough is enough and that it is time to move on?

A few months ago, I watched a utube video from a  former advisor for Hilary Clinton. He suggested flicking back in your diary or calendar, counting up all those recurring appointments with people, which had led to nothing. Why did that happen? Was there a common theme?

And what jogged this thought was that last night, I had the fun of clearing out a whole load of old notes and papers. Sure enough, a few thick files popped up, where I could not recall receiving a dime for my input.

This is not about correct business models, pricing policies or success fees. The provider of a service must assess in advance what a customer is worth and can deliver. In parallel, that same provider has to be armed with clear guidelines as to how much they can afford to invest in set up work. Either way, the dream must be balanced very coldly against existing reality.

If one of other of those above elements is blurred, then the result may be a big loss of time for yourself. A secondary negative impact is that you effectively forgo the opportunity to invest in establishing a commercial relationship with an alternative client.  Double ouch!

Each story is different. Everybody has to make their own judgement call. Last year, I went beyond my usual parameters. The result has been an exceptionally commercially exciting adventure for both sides.

Before every additional meeting with a potential clients, you have a right and a duty to ask yourself: Is this meeting truly of value and is there a realistic chance that it will bring me some revenue?

Explore posts in the same categories: Business, Israel

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