Did Your Last Contact Make Your Next Deal More or Less Likely?

     Have you considered whether you came closer to making a deal or doing business with the last person you contacted when you last contacted them? I think, all too often, we don’t take the time to consider the consequences of our last contact. I certainly resemble that remark. Sometimes we think we covered the points we wanted but if we had taken the time to think about it we might have discovered we left a few points out that should have been communicated. Maybe we exaggerated a little or didn’t put an important qualifier into a scenario that left the impression that we could expedite a deal that, in reality, might be a bit problematic. If our contact received that impression they might end up being disappointed with us when they bring us their deal and learn it is not one we can complete. All that might be required to solve this situation is a brief follow up contact to correct anything that might have been misunderstood. The follow up would probably be appreciated by a potential partner, will give you another chance to make a better impression (or to reinforce the good one you already made) and may make your next deal more likely.

     The follow up may be more important if you know you blew the last communication with someone you would like to do business with. It may give you a chance to recover a relationship that you damaged. I am reminded of a recent experience: an acquaintance who I first met here on BP e-mailed me that they had a situation that needed a quick response. I had never done any business with this person and they gave very few details of the situation but the real estate involved was near my area of interest. I e-mailed back within half an hour that I would like some details. The response was that they were on the road and would send the information later that evening. No details came that evening nor the next day. I initiated another contact and was informed that the property was sold to another investor. When I inquired why they didn’t send me the information they promised they stated that they were busy. When I inquired why they hadn’t let me know that the urgent situation that I had offered to help with was resolved they made an awkward joke. They then said that they hoped we could work together on another project. Nothing else. That was the last communication until I met them again at a meetup where we exchanged a brief hello. Do you think we are closer to doing business with each other because of this exchange or not? A brief follow up after the initial miscommunication would have gone a long way toward making it more likely.