My BIGGEST Information Marketing Mistake
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If you were to total up all the time and money I’ve lost in the information marketing business, one mistake would win by a landslide.
And, to make it even MORE frustrating, it is something that I’ve done many times in the past and I continue to do it to this day.
Why? Why would I continue to make the SAME mistake?
Because I TRUST people. What a concept! Although it would be great if you COULD trust everyone you come in contact with, quite frankly, you can’t!
What is the mistake?
Starting to do work without a signed contract. Before I tell you what I’ve done, let me tell you what I SHOULD have done. AND, what I suggest you do to not make the same mistakes I do.
There are two different scenarios. The first one is where you approach a prospective client. Where YOU solicit THEM and THEIR business. I recently emailed a guy and suggested we meet. In this case, I should attend the initial meeting and spend 45 minutes to an hour talking to the person about my ideas.
While at the meeting, you should refrain from talking about specifics of what you could do for them and talk about the benefits of what they would receive from working with you. If you are good at what you do and have some good clients who can vouch for you, that should be your approach on the initial meeting.
The next step, whether in person or face to face is to get a contract signed.
If someone contacts you first, then they sign the contract first before you meet with them either in person or over the phone.
Sounds harsh, right?
Maybe a bit. BUT, in EVERY case where I’ve violated the above rules, I’ve been taken advantage of.
In EVERY case, the potential client did not sign the agreement.
I recently had someone attend my bootcamp. They paid to be there. After the bootcamp I continued to speak with them and email them regarding our DEAL. Unfortunately, we did not have a deal. This person never signed the agreement. Nothing happened.
Well, that’s not entirely true. I gave someone a lot of help with no compensation. Bad idea.
A few days back, I met with someone who I had contacted about working together. At the meeting, I gave him a lot of information about HOW I would implement our plans if we were to work together. I was ASSUMING we would work together.
After some emails back and forth, he has refused to enter into an agreement. The first email said he needed to talk to some of my existing clients. I sent him some names. His next email showed he was balking at the deal.
At the meeting we had over drinks, I gave out TOO MUCH information on HOW and WHAT I would do.
Don’t do this. Don’t make the same mistakes I do.
Unfortunately, you can’t trust people to “do the right thing”. In fact, I don’t even think the potential clients made a mistake. They extracted as much information as they could for me without a signed agreement.
This was MY mistake NOT theirs!
I sure hope I don’t continue to make this mistake. I sure hope you don’t do the same. I’m hoping that by writing this post, I’ll remind myself NOT to do what I describe NOT to do here.
Please follow my advice!