Entrepreneurship 101 - Chapter 5: Follow-up Algorithm

Hello! Welcome to Chapter 5 of the Entrepreneurship 101 series. The main purpose of this series is to help first generation entrepreneurs learn about basic building blocks of setting up a new business & skills that are required. In this series, following chapters are covered so far:

1. Introduction to Entrepreneurship & the art of storytelling
2. Building a team
3. People Skills
4. The art of reaching out

And, here is the list of backlog topics that needed more details & I had promised to write in future:

1. How art of storytelling helps in sales?
2. How can you stay motivated always?
3. What is a company culture & how to build the same?

In chapter 4, we learned about the art of reaching out & why it is important in building your business. We learned:

1. Why learn the art of reaching out to people?
2. How Do I reach out to people
3. Know your purpose
4. Do your research
5. Find commonality
6. Be yourself
7. Don’t worry about rejection
8. Love the process

Continuing the topic, you will have questions on “HOW DO I GET STARTED?” Right? We have to learn a method of reaching out using the most important tool which will help us for life long. I call it ”The Follow up algorithm”.

What is a follow up algorithm?

When you reach out to a potential customer or a new friend you made at a conference, you need to make sure that you keep the communication alive even if the person on the other side does not reply to you. You don't give up. That's all. Now over the period of many years based on my experience, this is the best algorithm I have come up with. You will not find it anywhere on the internet. It goes like this -

Let's just say you want to reach out to person Jack via email. So what you do is, draft a nice short but to the point email that you want to send to him. Please use the pointers I have explained in Chapter 4. Now observe the flow below:

Day 0: You send this fresh email (1) to Jack.

“No reply from Jack”.

After 3 days: Send another email (2) of the format “I was just checking if you got my last email. Hope all is well at your end. Regards”.

“No reply from Jack”.

After 1 week: Send another email with something new. Don’t repeat what you have sent.?

“No reply from Jack”.

After 2 weeks: Find a topic that is very common to connect. Say “Happy thanksgiving or happy halloween or something else.”

“No reply from Jack”.

After 1 month: Write “I just stopped by to say Hi. Hope all good.. Bla bla ..”

“Jack Replied” ??

Within 24 hours you need to send a reply. Don’t immediately reply like you were so eagerly & desperately waiting for him. Take your time and reply maybe after 10 hours or so. After all, you are busy right? With your business, you are not free. Self Respect.

“No reply from Jack”.

Wait for 3 days. Now check with him again. “I wanted to check if you are okay with the details I shared in my last email.… etc”

“No reply from Jack”.

Repeat the above steps until you get success. Always remember the odd rule of communication. That means if you start the communication, make sure you are the one closing it, meaning you are the one who replied last.

This is the best follow up algorithm. Many people ask me, how long should I continue. I would say if the person on the other side is still very important to you, you continue for even a year or two. After all, it doesn’t take much time to drop two lines and stay connected. Something - somewhere will change and you will definitely get some success. But don’t give up. I have got a huge business from a potential lead whom I followed up for a year and then got success. Feel free to change the style of messages.?

You can also switch to different modes of communication like instead emails, you can send WhatsApp or SMS. You need to decide which one is apt. You have SMS, Direct Phone, WhatsApp, LinkedIn Message, Instagram DM etc.

Next we will learn about Social Listening, reaching out at social events, conferences, parties or any in-person events, is also an interesting thing to learn. We will cover that in upcoming chapters. Until then, Dream. Plan. Act.?

Thank you for your time & do share your valuable feedback in the comments section or email me on?[email protected].

Until then,?Dream. Plan. Act.?

KTG