A hidden secret of good business – timing
One topic that often comes up in mentoring sessions is when and how to call prospective clients.
It is staggering the number of people I meet, who tell me that they do not have enough work. Yet, at the same time, they are carrying around a list of people who they can contact and who may give them a contract. By not calling the potential source of work, my client clings to the hope that they are still needed, which psychologically appears to have more value than being rejected or even receiving a positive answer.
At this stage in the conversation, I find myself encouraging the client as strongly as possible to commence dialling immediately. Why let a hot or warm opportunity go cold?
However, while this is a rule of thumb, it is not etched in stone. Business is dynamic and we must be prepared to change and act differently when challenged.
For example, I know of a few cases recently, where the customers of my clients have been seeking – even demanding – more services, without completing previous payments. The background and reasons are different. In one case, the customer has been trying to change the terms of the contract.
Let me clarify. A customer may apply subtle or blatant emotional pressure. They may play on the fears of the supplier, who is desperate to obtain more work or create a larger contract. However, the general pattern of proffered advice is to wait it out, patiently. For all the talk and persuasion and posturing, more often than not, it is the customer who is more worried. They are the ones who are desperate to be serviced in order to move forward.
In Israel, there is an old phrase, which describes a good business deal like a meal of “hamin”. This is a stew, which is cooked overnight on a low flame. You can hurry it up, but then risk ruining the taste.
And this is what is happening here. Even though you might want the work, you have to make a judgement call and not to rush your responses. Let it come towards you, slowly and gradually. The tang of success is that much sweeter.
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