You Can Not Build A Business Relationship Over The Phone

This is a very costly mistake made by entrepreneurs looking to secure long-term clients. You can initiate a business relationship over the phone, but you can not effectively build one.

After you establish a potential client over the phone or through email - it would be very wise to arrange to meet this person face-to-face. This can be done by connecting with them at an upcoming conference or networking event, or just arranging to take them to lunch the next time you're in their city.

Keep in mind that your potential client is likely getting tons of phone calls, and few actual visitors. Who do you think will stand out? The hundreds of faceless calls, or the 5-6 people who actually show up?

If you are realistically expecting someone to spend money with you for months or years into the future, you must learn to invest in the relationship. This may require you paying for airfare, a hotel, a cab, and lunch or dinner.

Some may fret at this, but if you really believe that you have the products and/or services that they need - then you should understand that these types of small investments will indeed pay off.

Even more, if you are seeking a huge account - surely you would agree that taking a $500 trip can easily be justified by the potential $100,000+ contract that you might get.