Hey, we’re not just Internet marketers – we’re also business men. And our point in this blog is to teach you all that we can not just about Internet marketing, but about lessons we learn and experiences we have along the way. We just had a real life business lesson that cost us $100 thousand. We don’t want you to make the same mistake in your business, so we thought we would share our lesson with you, our valued readers, in hopes that you will do better.
So what is the $100 thousand business lesson? It’s this:
Always be thoroughly prepared for any communication you will be having with potential customers – ask if there is a particular agenda or topics that will be covered in advance; anticipate questions they will ask; take notes in advance. Do this regardless if it is an in-person meeting or a phone call.
We were pitching for a prospective client and thought we had the deal in the bag. There was a scheduled telephone to discuss a “plan” – what I did not realize is that the call was really an interview because our prospect was also talking to another company. I was expecting something much more informal and didn’t do any extra preparation (having already devoted many hours to the writing of a proposal). As a result, the other company got the gig and we lost a piece of business that would have been worth nearly $100 thousand.
So if you are pitching business, even if it is to a company with whom you already have a relationship, be overly-prepared for every interaction you have with the prospect. Assume that the fate of the deal rests on every phone call or every meeting. Take nothing for granted.
There you have it. $100 thousand worth of business advice, and you got it for free just for reading the Work Media Internet Marketing blog.