I want you to ask the client to spend money with you.
Yep, it’s that simple.
Ask the client for the money.
In fact, I’ll even provide the exact script for you below (and I don’t do scripts usually):
“Hey _______, to move forward it’s £________, are you ready to make payment?”
I get it, this might sound oversimplified, but here’s the thing.
99% of business owners I speak to are worried about what marketing campaign they should do, how they should show up on social media and if they need to launch another product.
But meanwhile, when we hyper focus on what clients are already in their world and what conversations with prospective clients they’ve already had for the month, we quickly establish there’s thousands in uncollected revenues.
I found out the hard way when I started my business almost a decade ago.
I had stacks of meetings and great conversations with prospective clients (all them were gyms and salon’s at the time).
I never once asked them for the money.
It was only when I was overdue on rent and tens of thousands in the hole financially, that I sat back and did the maths. I was sitting on over £30,000 of potential revenues!
But, I never asked for the money.
There’s two times that ultimately matter when you ask for the money.
- At the time of the meeting
- If the client doesn’t go ahead there and then, in your follow up
The first is pretty obvious, if you feel the client is the right fit to work with you… Ask for the money.
Although many sales are lost in meetings by forgetting to ask, or avoiding asking for the sale, the second is where I believe (and many studies show this) businesses fail overall.
I’m not sure of the exact percentage, but I would estimate it’s way above 80% of businesses that do no kind of follow up.
- We don’t want to be pushy
- We want to give the client space
- We don’t want to come across as desperate
- If they really want it, they’ll come back to us
The list is endless and in the right scenario, all of these reasons (and many others) all make sense.
The problem though, we use them as excuses, not as legit reasons.
Over the last few years, it’s become a huge part of my day to day business strategy to have relentless, but non desperate follow up with clients and potential clients.
Fortunately, my partner (in life and business) Jamie feels exactly the same. She’s actually a follow up queen!
It’s also become the cornerstone of what I teach, hence this message today.
Asking for the money, must be a daily habit.
If someone has stated their commitment to a solution, a gentle (or direct) follow up to move forward isn’t just a nice thing to do, it’s a necessary component of successful business.
Sure, you’ll find your own way of following up and that’s ok.
The one philosophy that I live for though, is I need a solid “yes” or “no” and I’ve learnt (through not doing this), that if you don’t communicate clearly, you’ll end up in this weird ‘maybe they will go ahead’ relationship.
It’s like any relationship, if you like each other and you want to see each other exclusively, it might be an idea to have that conversation. When you don’t, it’s no surprise when your value is broken by the other person.
Business and relationships have many similarities.
I’m also inspired to write this today because I spent 30 minutes this morning following up with potential clients.
I personally follow up with voice notes, because everyone listens to a voice note and on top of that, they can hear the sincerity in my voice.
I genuinely couldn’t care if they say “yes” or “no.”
I tend not to look at the individual sale (if you obsess over every sale, you become too emotionally attached to the outcome and this isn’t good for you or the client).
Instead, I follow up by saying the following:
“Hey ______, it was great to speak last week, I know you were excited to move forward with XYZ and I know we’ll be a great fit to work together. I’m just signing off my last couple of clients who I’ll be starting with from the 1st of next month, so if we are moving forward I’ll just need to finalise payment with you. No pressure either way, if you can just let me know if it’s a yes or no and we can get started from there. Speak soon.”
I’m all for a zero pressure approach and I love to remind the client it’s completely their decision, this is key.
Yet, this morning alone by doing this, I’ve had:
X2 confirmed “this isn’t the right time.”
X 2 confirmed “thanks so much for following up, I’m ready to pay.”
I can’t tell you how much money is left on the table every month in your business, but I can guarantee it’s far more than you think.
To summarise on this (and I’m only realising this now), I actually LOVE follow ups.
I love them because I love certainty.
The clients I work feel the same.
A lack of certainty is when you’ve got several conversations up in the air that aren’t moving forward.
This destroys out momentum and takes up space in our universe.
Clear the space by (in your unique way) asking for the money, or gaining a committed “yes” or “no” from the client.
Certainty and asking for the money are key and they’re both traits of a high value individual.
Ask for money today.