In short
Podcast Summary: The Business Acquisition Podcast with Bruce Whipple Episode 367 - "Fuck, Follow-Up Worked!"
Overview In this episode, Bruce Whipple emphasizes the crucial role of follow-up in achieving success in business acquisitions and sales. He shares a personal story about a mentee's success resulting from persistent follow-up, alongside statistical insights that illustrate its importance.
Key Themes
- The Power of Follow-Up
- A mentee experienced a breakthrough after following up multiple times with a potential chairman.
- Initially, the response was unfavorable, but persistence led to a positive outcome: an invitation to discuss potential collaboration.
- Statistics on Follow-Up in Sales
- 48% of people never follow up after their first contact.
- Only 10% of individuals make more than three attempts to reach out.
- 80% of sales occur after the fifth to twelfth contact.
- Sales is Universal
- Follow-up is not just for salespeople; it applies to anyone seeking to persuade or gain support.
- The concept of sales extends to capital raising, business acquisitions, and team building.
Important Insights
- Professional Persistence
- Follow-up is framed as "professional persistence," which differentiates successful closers from mere talkers.
- The mindset that "no" often means "not now" rather than a definitive rejection is crucial for maintaining momentum.
- Quality of Follow-Up
- Thoughtful, personalized communication is more effective than generic templated messages.
- Value should be added in every follow-up interaction to keep the other party engaged.
Action Items
- Challenge for Listeners
- Review past communications and identify five individuals who did not respond or said "not now."
- Follow up with clear, respectful messages to see if a change in response occurs.
Conclusion Bruce encourages listeners to embrace the concept of follow-up as a key strategy in business and personal growth. He advises maintaining persistence and focus, reminding them that success often lies in the follow-up process.
Additional Call to Action
- Listener feedback is encouraged for future podcast topics, reinforcing Bruce's intent to provide actionable insights tailored to audience needs.
Final Reminder
- "Never ask, never get" serves as a guiding principle, underscoring the necessity of proactive engagement in all business endeavors.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00Fuck! Follow up worked. Pardon my language, but that's exactly what a mentee of mine wrote to me in an email. And let me set the stage and give you a little context on that. There's a lesson that I want you to hear loud and clear. So let me set the stage. So a mentee of mine had been reaching out to build his board, and he wanted a really high-powered chairman. He had the criteria. He'd been reaching out. And we talked about how important follow-up was. So he initially got a response back from a very personalized letter, which was not favorable. But then he, guess what, followed up. And after following up, and he was always respectful, professional, always with the right intent, a message came back to him, which was not a brush off, not a, well, I'll think about it, well, we'll let you know.
0:59But it said, and this was the way it was written, let's have a face-to-face chat and see if we can agree on a way forward, just like that. and it wouldn't have happened ever if he hadn't followed up. So let me just be blunt again. Most people give up way too soon. In fact, let's bring in some numbers. According to multiple sales studies, including research from the Brevit Group and HubSpot, 48 % of people never follow up once. They send a letter, that's it, never follow up. Only 10 % of people make more than three contacts, But get this, 80 % of sales are made the fifth and twelfth contact through that period.
1:47So think about that. That means that most deals are left on the table simply because people don't follow up. And you might say, well, Bruce, I'm not in sales. I'm trying to raise capital or find a chairman or acquire a business. Well, you just saw an example of how follow-up works with a chairman. So let me stop you with those excuses. Everything is in sales. If you're trying to persuade someone to back you, to join your team, to sell you their business, to say yes to something they haven't said yes to yet, that's sales. And sales absolutely requires follow-up. Now, here's the kicker. The mentee who got the, fuck, follow-up worked moment, just didn't send templated emails and pray.
2:35Those were thoughtful messages. They were personal. they were respectful, they added value, and most importantly, they stayed consistent and focused on what was important for the other person. They understood a core truth that I preach all the time. No usually means not now, not never. So I want to ask you something today. Who have you given up on too early. Who said no once and you took it personally? Who showed a flicker of interest maybe and you never circled back? Follow-up is not harassment when it's done with purpose, clarity, and value. The first sale has to be to yourself. You have to believe that what you're reaching out with has value to the other person.
3:24But follow-up, it's called professional persistence if you want to think of it in a different term. And it is what separates the talkers from the closers. So here's an action item for you. Before the day ends, I want you to go back through your inbox or CMR, CRM, and find five people who didn't respond or said not now and follow up. Simple, clear, respectful. You might just get a message back that changes your trajectory. And when you do, you might find yourself saying, fuck, follow-up worked. So until next time, stay persistent, stay focused, and remember, as I say all the time, never ask, never get.
4:07It has served me well, and it will serve you well. If you like these podcasts, continue to watch them. I usually follow a follow-up email. And send me the topics you'd like me to discuss. My intent with this, just like my videos, is to give you actionable content that can help you in any step you're at. So let me know the step you're at. Let me know what you're struggling with. And you might just find that I do a podcast or video on that.
From the publisher
Most people and mentees don't understand how critical follow-up is to success. On this week's Business Acquisition Podcast, I'll share a mentee's billionaire Chairperson lesson and some eye-opening statistics on the relationship between the number of follow-ups and completed sales. I'll also give you a challenge! It's all in this week's podcast, so if you think you're ready for some hard truths, give it a listen! To Your Success, Bruce Whipple https://brucewhipple.com/




