In the fall of 1985, my father retired at age 62 to start his own business. He was an expert in the field of pipeline controls, and he chose to retire early to become a consultant. I remember his fresh set of business cards in the gold-plated holder. It was exciting. Unfortunately, 20 years later, he passed away without having gained a single client.
It always breaks my heart when I see someone dream big, start their own business, and fall short. An estimated 80% of new ventures fail in five years. The sad part is most of the time business failure is preventable. We just need enough paying clients. If you have just started your business, or know someone who has, I have some points I recommend you consider:
Who is your ideal prospect? Who needs your product or service, wants it, and can afford it? Too much time is spent talking to people who are easy to talk to, but not a profitable use of time.
Make a list. Keeping in mind your ideal prospect, make a prospect list with the key contacts noted. Getting this information is much easier these days because of internet, social media, and premium reference databases available at libraries.
Once you have your list, categorize and prioritize it. You can go A,B,C or a scale of 1-10. Choose what works best for you.
Send a note or card that is short, personalized, and makes the person want to talk to you.
Follow up with a phone call that contains a clear introduction, respect for the prospect’s time, a statement or questions that generates interest, and a call to action. (e.g., setting up an appointment)
If you do this consistently for two hours per week, you will be amazed at how your business steadily grows.
