Business Development Clinic: How to cope with objections from potential clients

You are in a business development meeting with a juicy new potential client, and then it gets awkward… I am wondering whether you are too big/small for us My concern is whether this project will get us the results we need Your fees seem to be quite expensive Do you think you have the people who can help us? Is it worth the hassle to do this project These are all common objections which you will hear during the business development process. Many professionals worry about objections, however these are not always a negative sign. Very often, they are a sign that the client is engaged in the conversation and thinking through the details of working with you. When faced with one of these difficult questions or statements, you want to let them know that not only do you understand why they feel that way, but they are right, and others have in the past felt that way. In other words you are not being defensive, but reinforcing the fact that they are right. (Remember the Lead is the one who controls the buying process, and whether you disagree with what they are saying, they are the ones who will ultimately decide to hire you.) However, you also need to show to them that Clients who had been in exactly their situation, had managed to gain a positive outcome by working with you. We call this the Feel, Felt, Found technique. Feel: I understand how you feel about struggling to build your client portfolio in today’s tough economic climate. Felt: Many of my other clients when they were in the same situation as you, felt the same way, and were wondering whether they should just accept that growth was just impossible. Found: However, when we have worked with clients, in exactly the same place as you now, we have found that they have been able to significantly grow their practice by taking some bold decisions and taking action. How do you cope with objections?