After coaching hundreds of professionals, I can tell you that the #1 problem most professionals have is a low closing rate.
The sad thing is, most professionals don’t even know it! Why? Because they don’t keep track of their closing rates! When I ask them to guess what their closing rate is, it usually ends up that they believe their closing rate is much higher than what it actually is. It’s important to check perceptions.
So, if you really don’t know for a fact what your closing rate is, figure it out by following these 2 steps:
- Out of the last 10 initial consultations you’ve had, face-to-face, how many retained your services? ____
- Now divide that number by 10 = ______. This is your closing rate!
If your closing rate is 50% or below, you absolutely need to change what you’re doing. In this case, I recommend implementing a consultation system that has proven to work for hundreds of others (more later).
If your closing rate is between 50-75%, you’re within the average range for most professionals. But do you want to be average? In this case, I’d recommend fine-tuning your consultation so you can leverage your closing rate and resulting revenues.
If it’s above 75%, you’re doing great! No need for improvement!