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Why do prospects slip through your fingers?

20th Apr 2015
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We’ve all experienced that warm tingle and inner glow when you put the phone down having arranged to meet a new prospect.

However, a week later, we’ve also all experienced that gnawing niggle that somehow the person you met for 90 minutes and got on with so well is not going to become your client.

So, what happened in between the initial phone call and the empty hollow feeling a further week on when your emails aren't acknowledged and they're too busy to take your call?

Let’s deconstruct events. They probably rang you because of one of the following:

  1. An acquaintance suggested you
  2. They're shopping around as a bargaining tool with the incumbent
  3. They saw your advert or found you on Google
  4. They heard you are cheap
  5. They know your firm exists because they live locally
  6. They heard you are good
  7. A client recommended you

So which was it, or did you fail to ascertain this in your excitement?

  • The first two possibilities are hardly a compelling story ripe for conversion
  • With number three, at least they are taking positive steps to find an accountant
  • Number four is more promising if, and only if, this is your USP
  • Number five is already putting you well within their sights
  • Number six can make you feel giddy
  • And number seven, surely it’s an open goal?

So why are the fives, sixes and sevens slipping through your fingers like sand?

The simple reason is that you haven’t been trained in selling and closing a sale. This is something afflicting many accountants the world over.

The 90 minutes are spent in pleasantries and stories but never really hit the target, although they do come close. However, close isn’t good enough, especially as you sell time and you’ve just thrown away 90 minutes of the stuff. 

You could sign up for a comprehensive training course, even one aimed squarely at accountants. Although, a good course doesn’t come cheap but as they say, you get what you pay for. 

The courses themselves will drum into you the basic truth that it is not about selling, it is about adding value and you will learn exactly how to do that.

But what if you’re not up to it? What if you simply haven’t got what it takes to be a salesman or don’t believe you do and are unwilling to push the boundaries. Is there a future for your firm, as social media and sales-orientated value added models drive growth?

The question therefore is, ar you willing to watch client numbers and fees dwindle steadily as existing clients retire and new ones don’t replace them sufficiently?

I’m sorry if this sounds depressing but perhaps a reality check is overdue.

As the saying goes, a good friend is somebody who tells you what you need to know and not what you want to hear. So perhaps it’s time to start thinking about moving on - and up! 

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