Sandler Rule Thirty-Two: Get an I.O.U. for Everything You Do

In my continuing series on the Sandler Rules, let’s talk about Sandler rule number thirty-two, “Get an I.O.U. for everything you do.”

Have you ever gone above and beyond for a client or a prospect, and gotten little or no return from it?

If you answered yes, you’re not alone.

Traditional salespeople are willing to give away their services or products for free. They believe that their prospects or clients will remember the favors they were given and will return the favor sometime in the future.

Let’s be honest.

How many times have we returned the favor? If we aren’t consistent in giving back, it’s likely your prospects and clients won’t either.

In many instances, the favor given isn’t large. It could be as simple as doing a proposal without clarity around a genuine, next step. How often do you present proposals and your prospect says neither “yes” nor “no”? What was the IOU?

To avoid giving away your time, energy, or effort without something in return, set a strong up-front contract. Using that technique ensures that upon completion of the task you have a clear understanding of what you get in return.

Another technique is to offer a “monkey’s paw.” The concept centers around offering your prospect the opportunity to invest in a “piece” of the solution with a smaller financial investment. You’ll need to set an up-front contract with the “monkey’s paw” to ensure that, if certain conditions are met, the prospect or client will agree to a larger financial investment later.

These two techniques have several benefits.

1. The “monkey’s paw” creates a higher probability of selling a smaller deal, knowing that your top-level service/product offerings will lead to a longer business relationship.
2. The up-front contract indicates a willingness on the part of the prospect or client to engage with you on some level.
3. You are improving the bonding and rapport by helping them discover a solution to their problem.
4. It will continue to support equal business stature between you and your prospect/client.

But back to the rule. How do you get an I.O.U.?

Your first instinct when a client asks for a favor is to say yes immediately; instead make it seem as though you are going the extra mile for them. Show them that you’re in a tough position, and that change isn’t easy. Act consistent with your position and let them know the implications of change for you.

Here’s an example: “I’m not sure if we can swing this. If I am able to do this, what are you willing to do for me?

I’m not suggesting that you stop doing favors for your clients. I just want you to get the return from them that you deserve.

If you learn anything through this post, I hope it’s this: Don’t be afraid to ask for what you want and deserve for the hard work you do. It will lead to longer relationships and happier clients.