Invest in Follow Up

invest in follow upFollow up is an upfront cost of time in your business. There is always something you would rather do with that time. But being disciplined to set aside the time to follow up pays dividends in your business. The time you invest in follow up turns into new clients, which increases your revenues.

Think of a financial investment. You get the most out of it when you can put a large amount up front to get you started and then consistently add to it every month. When you are new in business, you typically need to get your name out there and make a lot of connections. Depending on the type of business you are in, that may mean a lot of networking, meeting people and having 1-1 connections. Once you make those connections, you need to follow up consistently or they will forget about you.

How much time should you invest in follow up?

You may have heard the financial rule of “pay yourself first.” A common rule of thumb is to take 10% of your earnings and put it in savings or an investment for the future. What if you used that same rule of thumb to invest in follow up? A standard full time work week is considered 40 hours. Ten percent of that would be 4 hours. If you divide those 4 hours over a five day work week, it comes to 48 minutes a day. If you do a 5-minute follow up task, you could do about 9 of them a day.

Here are some 5-minute tasks that you could do. Pick one a day and follow up with 9 people each day.

  • Quick phone call or voice mail to schedule a time to talk further.
  • A hand written note.
  • A personal email inviting them to take the next step.
  • A LinkedIn message inviting them to an event you will be attending.
  • A friendly text saying you’re thinking about them.

If you invested that time every day and committed to reaching at least 9 people, you would follow up with 45 people a week, 180 people a month, and 2,340 people a year. How would that affect the number of sales you made?

Since 80% of sales are made after the 5th contact, let’s take those 2,340 follow up contacts and divide by 6. That would give an estimated 390 sales. That is more than one a day! Depending on your average sale, that could be an incredible boost to your bottom line. Do you see how your consistent investment of time will build your business?

What’s next?

If you are ready to make follow up a priority, join me for, “How to Follow up Without Being a Stalker.” This training will help you get clear about why you’re not following up enough, what is missing from your follow up system and what to do next.

How about you, what is your follow up routine like? Do you set aside time each day? Do you do all your follow up once a week? What are you going to do going forward? Share in the comments below.

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