Are you chasing off clients?
Most of us think we are not chasing off clients, but sometimes it is worth reviewing your sales process. Earlier this week, I went in to open a new business account at the San Diego County Credit Union. As Factor Four Consulting is set up as an S Corporation, I took in the paperwork from the state and IRS to show we are registered and have the requisite ID numbers. Now the reason I have an S Corp. vs. a C Corp. is that there are a lot less reporting requirements and as I am not selling stock in the business, an S Corp. is a better fit. At the Credit Union, they require that we provide them with our bylaws and minutes of our shareholder meetings. These are both things that are not required for an S Corp. so we have never done them. Now, someone within the organization probably had a good reason for requiring them. However, it is keeping anyone with an S Corp. (an increasingly popular type of corporation) from opening an account with them. So, they are essentially pushing away customers that they are trying to attract. That is why you should continue to look at your own lead generation and sales process from the prospect’s perspective. You may be pushing away the very leads you are trying to attract without even realizing it. One good way to do this is to follow up with people who do not become clients as soon as you find out they are not moving forward. They often are more than willing to tell you why they did not choose to work with you (if you do it in a no pressure type of way), and this can be very insightful.