Our First Two Client Prospects = Potential Income From The Project

If we were talking about the shuttle launch, we'd say, "We have liftoff!" At the Indy 500, the announcer shouts over the roar of the engines, "The race is underway." My favorite horseracing announcer used to scream as the horses lurch from the starting gate, "And they're off!"

On day 20 of our project to generate $1 million cash in 184 days, we finally got two calls from our first mailing of 100 packages. A pastor from a Southside Chicago church and the executive director of a small not-for-profit organization called, referenced the mailing and asked us about the services we offer. After a brief chat, each invited me to make an appointment to meet in person to discuss in detail the services we can offer. So we've achieved two small victories - a response to the mailing and an invitation to schedule a face-to-face meeting.

I did some research on direct marketing response rates and learned that 2 responses out of 100 mailings is about average. Of course, generating a phone call is only step one; the object is to convert a prospect into a paying client. I know that people spend money with people they like and trust, and that the face to face meeting will be the key to closing the sale, to establishing trust and the feeling in each of these prospects that I can offer them something of value.

Because I've had a lot of experience in "pitching" services to clients, I know that for most small clients, price becomes the key factor in whether or not they hire me and pay me a retainer. My goal is to propose a fee for my services that I consider fair and reasonable. I don't pitch "lowball" fees any more because I discovered that, besides leaving me feeling cheated and dissatisfied when I offer a fee that is less than what I feel should be charged for the work, if clients perceive your fee as being too low, they will be suspicious of your competence and ability to deliver on the services you offer.

I also resolved for myself that any client who won't pay me a retainer (at least 50% of any fee we negotiate), isn't serious about hiring me. Especially in the services consulting field, I've learned that a client demosntrates how impressed they are with your services, prior track record, presentation, and value as a professional services provider by whether or not they agree to seal the deal with a letter of understanding and a retainer payment. My experiences have demonstrated that serious clients will always sign a letter of understanding and pay you a retainer.

So we've got two potential clients and two appointments on Monday. We'll let you know what happens.

Day 20 - $0.00 Income
Two responses to the mailing.
Day 21 - $0.00 Income
Two appointments set with prospects for July 24, 2006.