This morning I heard some very disturbing news.

The local independant coffee shop that my wife and I frequent daily is going out of business and moving to another town close by where the rent is cheaper. The owners of this really fine establishment have become very good friends of mine over the past several years, kinda like family in many ways.

The fact that they are going out of business, that is NOT the disturbing part. What’s disturbing is the fact that they did NOTHING to adapt to the change in their marketplace.

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Interestingly, this same coffee shop had survived 5+ years with three(3) Starbucks within 2 blocks. They must have been doing something right all along.

Their reason for closing…Rent increase of $50/day. That’s it. Over the course of several years, I had witnessed their clients BEG them to cater lunches for them or send their specialty roast to a friend in another state. These requests were never granted. Easily $50 per day of business left unanswered.

Clueless.

So, what is my point?

My point is that you HAVE TO pay attention to what your clients and prospects are asking for and deliver it to them.

Some ways are easier than others to find out what our clients want, but this one question can open a floodgate of new business quickly.

Are you ready?

Next time you meet with a client, ask them “What other products or sevices could I offer that may help you reach your financial goals?”

Their answers may surprise you, but I can assure you that this one simple questions can lead to a significant transformation of your business if you decide to act.

©2004, Brian Sacks. All rights reserved. Brian Sacks is a nationally known speaker, author and educator with 20 years experience and thousands of loan originators trained through his books, courses and workshops. For more information, visit www.LoanOfficerSuccess.com. Brian is a member of the National Advisory Council for GoGetLoan.com. Visit Brian’s page here.

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