- About Us
- Contact Us
By Kreston CEO, Liza Robbins.
How many times have you felt the pain of rejection from a potential client?
You poured hours of your time into crafting the perfect pitch. You delivered it with confidence.
Your prospects sounded enthusiastic – and you came away convinced you had won the business…
…But a few days later, they called to say they decided to go with another firm.
Most firms would thank them for the opportunity, wish them good luck, and move on to the next pitch.
But that isn’t the right move.
There is something else you should do, that could change everything….
…Something I discussed in detail during my recent trip to the Kreston conference in Latin America.
You see, we talk a lot about best practices to win new business, but we rarely go into what happens when you don’t win.
What you do at that crucial juncture can be as important as the work you put into preparing your pitch.
Take Natalia Mora Suarez, International Relations Manager at Kreston RM S.A. in Colombia.
A contact had referred her to a potential client, who eventually decided to go with a different firm – one they were more familiar with.
Now, Natalia could have accepted that “No”, chalked it up to experience, and moved on.
But she didn’t.
Instead, she decided to investigate. She contacted the prospect directly, and asked to find out more about why they had been rejected.
It gradually emerged that they had not really understood Kreston RM S.A’s capabilities.
This was an exciting opportunity for Natalia!
She was able to talk them through all the ways in which her firm could help – and she got the prospect to change their mind, and go with Kreston after all.
I really love what Natalia did – and there’s a lesson for you here too.
You don’t have to accept a ‘no’ at face value.
Always get back in touch with the prospect – and find out why they rejected you.
Did something in your pitch inadvertently turn them off? Were they worried that you had left something out? Was pricing the issue?
What was that “no” based on?
Once you understand their reasoning, you can sometimes take action to turn their decision around.
Of course, often that’s not possible (or desirable, especially if their objections are based around price).
But you should still make that call, because it’s your opportunity to gather valuable business intelligence.
You can learn so much both about your prospects and about the way you are perceived, simply by asking “why didn’t you pick us”.
Put that information to good use, and use it to win your next pitch!
And by the way, even if your prospect sticks to their initial decision, all is not lost.
Keep in touch with this prospect long-term because you never know what that connection could lead to…
A referral? A chance to pitch for a different service? A second chance, when the first firm doesn’t work out? (It happens…)
Check in with them every once in a while. Send them regular content that you know will interest them, based on the discussions you’ve had. You could even invite them for coffee or ask them to a firm event.
You may have lost one piece of work, but when you continue to build a relationship of trust, you set the stage for other opportunities to do business in the future.
As you know, even when you run a successful firm, rejection comes with the territory.
But if you think of adversity in business as an opportunity in disguise, you’ll grow even faster.
By Kreston CEO, Liza Robbins. How much of your business is taken by the Big 4? Losing out on business
By Kreston CEO, Liza Robbins. “We all want to grow to the level of the Big 4, but it’s difficult
By Kreston CEO, Liza Robbins. Benjamin Franklin supposedly once said: “If you fail to plan, you plan to fail.” But
By Kreston CEO, Liza Robbins. Last week I received an email from the chair of a large Kreston firm, telling
By Kreston CEO, Liza Robbins. “I was very attached emotionally to my firm, and it was difficult to let go.”
By Kreston CEO, Liza Robbins. ‘I should have started sooner’… We’ve all felt that regret. When you assess risk for
By Kreston CEO, Liza Robbins. Last week I left you with a question . When all your competitors claim that
By Kreston CEO, Liza Robbins. “We provide high-quality accounting and taxation services.” “Our mission is to provide top-quality financial advice.”
By Kreston CEO, Liza Robbins. Recently, a Kreston firm in Asia was looking to help a business they work with
By Kreston CEO, Liza Robbins. What’s the connection between muesli…. taxi cabs…. And Kreston? In theory, nothing! But in 2014,
By Kreston CEO, Liza Robbins. Over the past few weeks, we’ve been talking about what accountancy firms have to do
By Kreston CEO, Liza Robbins. For the past three years, the average annual growth rate of Kreston GCG in the
By Kreston CEO, Liza Robbins. Petra Uylen’s client had a problem. They needed a tax advisor, an accountant and a
By Kreston CEO, Liza Robbins. Since I became CEO last year, I have been visiting Kreston firms across the world.
Kreston member Duncan & Toplis is now an accredited centre for the Institute of Leadership & Management (ILM) and will
Irish accountancy firm BFCD recently moved from its existing accountancy association to join Kreston International. We spoke to partners Margaret
Kreston Iberaudit has updated its Spanish regional fiscal guides for 2019. You can access all the guides here: Fiscal Guide
By Elena Bargados Varela, Tax Manager at Kreston Iberaudit S.L. Due to the recent surge in the number of software
From 1 April most VAT registered businesses with turnover above £85,000 will have to file VAT returns through new Making
Author: Sarjit Singh, Executive Chairman at Kreston member firm, Ardent Associates LLP. The future of work is not just about learning a
By Andrew Griggs, Kreston Board Director and Senior Partner of UK member firm Kreston Reeves. In February, the Institute of
“The China One Belt, One Road is going to be the new W.T.O – like it or not.” These are
“A crushing, horrible, unfair disaster”. That’s how President Trump described inheritance tax; he aims to abolish it by 2025. Other
Artificial Intelligence (AI) has been garnering a lot of media attention of late. And for good reason – its potential
Earlier this month, the Senate voted in Donald Trump’s controversial $1.4 trillion tax reform bill by the narrow margin of
To say that there’s been a backlash against globalisation in recent years would be an understatement. From demonstrations in France
“May you live in interesting times” goes the Chinese expression. In fact, it’s actually more of a subtle barb to
Earlier this month, the Slovenian Prime Minister, Miro Cerar, stated that he “want[s] to position Slovenia as the most recognised
In the UK, they’re known as Generation Y, in Germany Generation Maybe, and China has labelled them as the generation
Rodney Sutton, head of manufacturing at Kreston Reeves, recently shared his thoughts on the UK manufacturing industry following the referendum
The adoption of international accounting standards has brought many benefits to the private and public sectors. This being said, there
Remote working is becoming a way of life for many professionals and the ability to work in a variety of
A common global language for business affairs, IFRS Standards are required by more than 120 jurisdictions in the world. Recently,
Automated technologies and artificial intelligence in our society will challenge many professions in the future. Some of them may be
Crowdfunding is still relatively new but should still be considered as a viable source of equity. Nowadays, it is providing
A legal amendment to the Finance Bill recently accepted by the UK government may pave the way for big changes
In the business world, there are bumps on the road and financial setbacks. In this situation, it is easy to
Day by day, technology is becoming an essential part of our lives, as the way we manage our financial life,
A new generation is coming to challenge the market. The Millennials make up a quarter of the US population and
Managing change is one of the biggest challenges for businesses as it requires a huge effort from managers and organisations
Sustainability reports are released by companies and organisations of all types, sizes, and sectors, from all over the world. A
Accounting is an indispensable tool for entrepreneurs to manage their business. The data provided by competent
Thinking about the risks involved in business has become an essential part of an enterprise’s strategy. Risk management enables organisations
When a business does not achieve its expected results, it may be time to think about implementing change. In these
The Financial Times recently reported the dispute in the courts between the UK supermarket chain Sainsbury’s and MasterCard. The Competition
For many, the accounting profession may not seem the most attractive in the world. But with technology and innovation at our hands, this is about to change.
By following these five steps, communication has everything it needs to flow better, regardless of where your business is located and where the people you
The need to go global is something that has emerged over the past decade and promises to challenge business for the next coming years.
Recently a considerable change in the SME market was announced through business news on the internet. The Big Four have
There are five topics that we must remember when dealing with working personal relationships in international business…
Slowly, one of the last socialist countries in the world is preparing to make changes to its economy, but how will this be done?
Developing countries attract the attention of investors by offering good opportunities and new markets, making them attractive for anyone thinking of expanding their
Through a mobile app, a small business can promote its brand, products, and services, expand its sales channels, interact with the target audience and get
Last month, experts at the Milken Institute Global Conference in Los Angeles looked at certain megatrends and predicted several economic scenarios for 2040 to
Your browser (Internet Explorer) is out of date.
It is no longer supported by Microsoft and therefore may not display all features of this and other websites. Learn how to update your browser here