Have you ever had a potential client whom you were genuinely excited to work, give you a verbal “yes”, and their intention and commitment were so strong, you get to work right away.
You make room in your calendar, start preparing their file and work plan, and perhaps even incur some expenses to prepare to serve them.
And then, when you send them the paperwork, they back out…
- “Sorry something has come up”
- “I changed my mind”
- “I talked to so & so and they said to wait, think, I shouldn’t…etc”
- “After thinking about it, it’s not the right time, I don’t have the money, etc”
- “I can do it on my own”
Or worse, you don’t hear anything they simply disappear.
I understand how that feels. And it can be pretty demoralizing. However it’s important to realize that no matter what they told you, without a financial investment to back up that “yes”, they honestly weren’t committing.
Something was holding them back.
Either they didn’t trust you, or they didn’t trust themselves.
It’s usually pretty rare that it is about you, so take a breath!
It doesn’t matter if it’s buying a new home, or car, taking a dream vacation, investing in personal development, or anything in between, as human beings, as much as we want something, we are as equally scared of going through with it.
We are scared of what we need to do to, who we may need to become, and who in our world may not approve of what we are doing. And when this happens, backing out is easier than moving forward.
Always require a non refundable deposit
Sure sometimes a client says “yes, but….” you know it’s iffy, so you don’t commit to them either. However when there is a firm commitment, an agreement to move forward, you need to require a non-refundable deposit no matter how uncomfortable it is to ask for it. And don’t do any paperwork without it.
A client’s verbal “yes” can fade pretty quickly once they get off the phone with you and all their fears, what ifs, and opinions of others creep it. And the consequences of that – quite frankly suck:
- You lose the revenue
- It feels “icky” all around
- More importantly – The client doesn’t get to have what it is they truly want. (To me this is truly heartbreaking)
I’ve made the mistake myself of being so caught up in the moment, and ended up disappointed later. I truly understand what it feels like and why you may not want to ask for that deposit.
- “It’s uncomfortable”
- “I was afraid I’d lose the sale”
- “They said yes, I didn’t want to seem pushy or desperate”
- “I can’t ask them to pay for something they haven’t received yet”
- “I know her and I trust her”
Quit making it about you!
Yes, the deposit ensures you are compensated for agreeing to work with them, after all, for you to say “yes” to them, you need to say “no” to something else. However more importantly, the deposit above all else is in service to the client. Yes, that may sound like a mind twister, however it is true. It’s of service!
Paying a non-refundable deposit means the client gets to have what they really want. They don’t let fear or anyone, or anything, prevent them from getting what it is they truly want.
Creating the gift of expectation and commitment
I know from personal experience when I want something really big and exciting, like a trip, or building my dream home, or investing with a high end mentor, there is a LOT of fear, apprehension and second guessing that show up. But in that moment when I pay the deposit, in that moment of committing unequivocally to what I wanted, like magic, fear transformed into expectation. It is a pretty awesome feeling.
When you are able to let your love for serving your clients overcome your fear of making them uncomfortable, you will be able to start to appreciate a deposit for what it truly is:
A gift a client gives to themselves, a commitment to their transformation.
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