Yipee… The prospect said YES. I have a new client. What about contracts?

I can’t stress this enough…

ALWAYS get it in writing.

No matter what has been agreed, it is very important that it has been put in writing within a legal contract that both you and your client has signed.

Unless you have signed contracts, you can never structure your business properly. Besides, do you really want to be in a situation where your client could legally cancel your service at any time for any reason?

What if your contact leaves the company you have been working with and another person comes in wanting to kick things into shape. They won’t be able to just get rid of you if a signed contract is in place. This then gives you time to build up a positive relationship with this new person.

Use a system such as DocuSign to ensure your contracts are legally virtually signed rapidly.

But what if the prospect says, no?

There will always be reasons beyond your control for lost sales. It happens to us all so there is no point worrying about it.

The important thing is that you ask WHY you lost the sale.

Receiving feedback as to ‘why’ you lost the sale is much more valuable than making the sale in some respects.

No, I haven’t lost my mind.

If you don’t know a problem exists, then you can’t fix it. If you never ask why you lost the deal, you will never increase your leads-to-sales conversion rate.

Over the years I have received fantastic feedback that I’ve used to tweak my sales process. All you need to do is ask the simple question…

“It’s disappointing that I was not given the opportunity to help you push your business forward, but I appreciate that you have your reasons. Please could I ask why you decided against us working together?”

I have never yet come across someone that would not tell me. In fact, it shows you care and if anything goes wrong with their existing setup, you will be the first person they call.