Tuesday, October 22, 2013

The Problem with Promises

We've all experienced that client or customer who tells you they're going to give you a job ... or maybe the next one.

The problem is that too many business owners start seeing the money as theirs, like they already have it in their hands.

 Even worse, some in spite of not having it but believing it is theirs, start spending it.

 They call it "gearing up" for the promised work.

 The truth is, until you have actually got the money in your hands, you don't have it!

I run into this quite often with owners of construction companies. Someone promised them the work, got them all involved, suck all their good ideas out of their minds, and move on to someone else.

These so-called prospective customers are bottom-feeders. You need to figure out their approach and avoid them like the plague, or develop a system to stop their flagrant use of your precious time.

I suggest entering into a limited contract to hire you as their consultant. You can also start making them pay for your estimate. To sweeten the pot, offer to credit it off of your contract for the work.

Whatever you do, stop spending money you haven't earned yet.