The Fortune is in the Followup

by simonwchan

Regardless of whether you want to increase your business, advance your career at work or improve in your relationships, it is vital that you “followup.”

So what is a Followup?

For the purpose of this blog, our definition of “followup” means to get in touch with a person for the purpose to see if that person is interested to pursue what you had originally had to offer.

EXAMPLES OF FOLLOWUPS

- If you offered to sell a product to a person and that person decides not to buy, you would want to followup 3 – 6 months later to see if that person would be open to buying it at that future date

- or…  another type of followup would be if you proposed a project or business opportunity and that person needed time to think about it.  The followup call could be a  few days later or the next week.

- or… it could mean you suggest a new idea for your department and your boss needed time to think about it… and then you would followup in the appropriate time to see if your idea is accepted.

- or… you meet an old friend for lunch… and then you followup 3 – 6 months later to catch up with him again

In each of the examples, you are “selling” to the other party.  And that should be no surprise because last week we talked about how whether you like it or not, you are always selling!

Usually you will never make the sale or get what you want in your initial attempt.  Just accept it.  It just does not happen.  But… the good news is that the sale is made on the FOLLOWUP!  And every time you followup, you increase your chance of success.

KEY FACTS TO REMEMBER

Here are some facts for you to consider and really think about:

- 80% of sales are made after the 5th followup
– over 50% of people quit after the 1st followup

So what does that tell you?

Most people fail not because of lack of skill but because of the lack of persistence and discipline to followup.  If you just consistently followup, you will achieve what you want!  It is just a matter of time.

One of my best friends and business partners, John Goerlitz took over 4 months of followup before he decided to work together with me.  Once he became involved, we have built a global business together and have shared many memorable moments together.

I have seen some of my successful partners in Malaysia, Suren Sabadi, also very disciplined with their followups.  One of Suren’s new partners that have has gotten off to a great start in his business took over 2 years of followups before he made the decision to become involved.

These business partners have contributed greatly not only to my business in terms of financial success but MORE importantly they have made my life more fun and rewarding.  We have become great friends along the way.

And all of this happened… because of having the focus to followup!  If the followup did not happen, today I would not be able to enjoy my friendship with them!

HOW TO FOLLOWUP

There are 2 types of Followups:

1) If someone turns you down:
The easiest way to followup is to ask for permission.  Generally if someone turns down my idea or declines to buy what I am selling, I simply tell them I respect their decision and then ask them whether it is okay if I ask them 3 – 6 months from now whether I could ask them to reconsider.

2) If someone needs time to think about it:
This is a common response and you have to make sure you set a SPECIFIC DATE and TIME for the followup.  Whether it will be a  physical meeting or a phone call, you want to set the specific time!  Generally you want to set the followup date not too far in the distant future (in next few days or next week) because you want things to be fresh in the person’s mind.

FINAL ADVICE

Key is to be patient.  Not everyone may buy your product or your idea today… but sooner or later they will buy into it.  There is never a bad prospect… just the wrong time for the right prospect.  The main reason they are not buying is because the timing is not right for them.  So followup with them and you will catch them when the timing is right.  But if you never followup, you will never achieve the success you want.

Remember… 80% of sales is done after the 5th followup… so the Fortune is in the Followup!

So what areas in your life do you need to followup with?  Any potential customers you need to contact?  Any past relationships you need to rekindle?

Let’s make this a great Followup Week!

Sincerely,