Last week: It’s not too late to become a superhero in the BVFLS profession. It’s not who you are that’s holding you back … it’s who you think you’re not.
This week: A big reason clients and referral sources switch valuation service providers is because they weren’t kept in the loop about their projects. Is that you?
And if you’re new here, welcome aboard. This is what we do!
There is no such thing as time management, there is only “you management.”
The phone rings.
You recognize the number on caller ID.
It’s. THAT. Client.
The one you took a retainer from a few weeks ago and who hasn’t heard from you in a while.
You know the conversation is going to be awkward.
Do you answer the phone?
Or let the call go to voicemail?
Hey, what’s up! I’m Rod Burkert.
And welcome to my Practice Development Corner.
The place where business valuation professionals like you come to learn how to turn the practice they have into the practice they want.
The answer to the question is that you don’t DO anything.
That’s because the call never happened.
That’s because you have a habit of calling your clients every Friday and letting them know what you did on their project this week and what you expect to happen next week.
So there’s no reason for clients to call you.
You are pro-active.
Clients are informed.
It’s the same kind of call we would expect if we plunked down a large retainer for any kind of professional service.
We’re paying for the right to receive the service … have it delivered on time, as promised … and be kept up-to-date all along the way.
This Friday status call was a best practice idea that was discussed in one of my coaching groups.
It came out of a general agreement that we don’t communicate very well with our clients.
In fact, the people in my coaching group mentioned that many of their clients and referral sources switched from other valuation service providers because they weren’t kept in the loop.
I see four benefits from these calls:
#1 – Obviously, the client is kept informed.
#2 – You can put the calls on your calendar so they mesh with your schedule.
#3 – Knowing that you’re going to make these calls forces you to stay on top of the work.
And #4 – If there are any project snafus, the client will be more receptive to accepting them because you’ve been regularly communicating.
What do you think? Is a Friday status call to clients a best practice?
Is this something you know you should be doing?
Are you doing it already?
What’s your experience been with it?
Let me know by taking just a few seconds to like, comment on, or share this video.
Thanks for watching!
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