07/26 – 💲 Asset Assumptions
- July 26, 2023
- Posted by: The Miracle Twins
“A$$uming makes a butt outta you and me” – words have been changed to protect the innocent, but the stance stands true. Assuming client expectations rather than communicating them steals your business a$$ets and leaves you with an empty bank account and an angry customer.
But I get it – communication is hard, we’re busy, the clients are vague, there’s more dough than hours in a day. But assuming our clients should just know is leaving a lot up to interpretation – and that includes our profit margin.
Rule of thumb – if you don’t communicate effectively, you better have a well-funded “Oopsie” budget for refunds.
But why refund when you can just recall an email that spelled the entire client quote out – down to delivery date, set details, invoice total, and pick-up location? We’re not sayin’ over-communicate – but oftentimes, what we think is too much communication is actually probably the right amount of communication.
Examples of places where we can firm up the vocabulary include:
- Quoting – it’s awkward to quote a price because we assume that our clients either don’t know our worth or that we priced too high. That’s over assumption and it’s costing you cold hard cash.
- Order Details – confirm, confirm, and reconfirm order details. I like to end each email with a summary of the quoted services – that way nothing is up in the air except the smell of sugar cookies in the oven. Use a “quote recap” as a templated part of your email signature to force the habit.
- Refunds – I like this one. It was someone else’s comment in the group that I really liked. If a client is upset, ask them what you can do to make this right. It directly acknowledges (ahem communicates) that something missed the mark, and you ask (ahem communicates) with them to find a mutual resolution.
- Pretails – (made up word for pre-details) Communicate the details that may dissuade a client right off the bat. Location, minimum price, availability. Do this before you get into the quote nuances which will eat up time but won’t equal money if you’re out of their budget.
- Threat of Violence – we talked about this in another podcast, but add a communicated escape pod. “Hey – this invoice is due by Monday at 5PM, and if I don’t see payment come through by then, no sweat at all! I’ll assume you took your delicious desserts in another direction, and I’ll release the date to another client. Consider me for future events – I’d love to work with you!”
Communication makes the world go ’round and your bottom line go up. Snag more tips and tricks and learn which beige flags Heather and Corrie are waiving in this week’s Podcast – Episode 122 – Asset Assumptions.
Listen to this Podcast Episode!