Why you should get the deposit as soon as the prospect says yes

This week's question from my portal “The Neagle Code: Directions for Life” comes from Lauren Robertson.

Neagle Code Question

Hi David,

I'm experiencing a recurring problem. My prospective clients are saying YES enthusiastically at the end of their discovery calls, so I send an invoice and the itinerary for the program…then silence… Usually what happens next is they email me to say they've changed their mind or they ignore my follow up emails completely. I know this pattern is reflecting my own inner rejection issues because when it happens I feel hurt and disappointed. What do I need to do to move past this both in terms of inner-work and a strategy for receiving payment? I deeply desire to be of service and I'm sick of riding this particular merry-go-round.

Thanks for considering my question.

Neagle Code Answer

Hi Lauren and thanks for the great question!

My suggestion for you is to immediately STOP sending invoices.

Let me explain. When you have a prospect that is enthusiastic and ready to buy, you must ask for a commitment. It’s one of the only ways to know if they are actually serious or just wanting to get off the phone with you.

I recommend that once you get the verbal commitment from a prospect, you immediately ask for a deposit.

This allows you to gauge their seriousness, and work through any price or money objections while you’re on the phone with them.

The truth is…no matter what people “tell” you, if you don’t have a financial commitment, you don’t have a commitment at all.

My feeling is that you’ve been resistant to that because you fear judgment of some sort, and you’re avoiding the “no”.

But what’s happening is you’re getting the “no” regardless.

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  1. When you told Lauren to stop sending invoices and get the deposit instead, were you meaning that the prospective client’s credit card information be taken at this point? That is the only way that I can see that working is to take their credit card information while they are on the phone and process it while they are still on the phone. Possibly debit card information would work too. Any other way and they can still back out.

    I offer professional services and don’t take credit cards. The only way that I don’t get a deposit or a sale is when the prospective client was just looking for free information as part of my discovery process. Need to revise my process.

    • Exactly Teresa, forget the invoice and get the credit card number right then and there. You need to get their commitment immediately or they will find ways to back out of it. It happens all the time and you don’t want to make a habit of it. Ask for the sale, get the yes, then get the credit card. If they are unsure, get them to commit something before you let them off the line. In response to your process, you definitely need to revise it to grow your business. I offer professional services also and have no problem taking credit cards over the phone. It’s how business is done especially in today’s day and age. Good luck and thanks for the post.