Have you ever stopped the frenetic daily routine for a moment to sit back and think about who your clients are?
Sometimes it can be very interesting to do just that. You might be surprised by what you find out and you may even be disappointed.
Many businesses are so busy going about their business that they don’t find the time to think about their customers, but wouldn’t it be a good idea to ask:
- How many clients do we have?
- What does each client give us?
- What do we give to them?
- How much of a contribution does each client make towards the bottom line?
- Are we maximizing the opportunities from each client?
- Are we over servicing any clients to the detriment of others?
- If we changed the mix of our clients could we make more money?
It’s often the case that the clients who shout the loudest or are the most needy are those that are draining a business of its precious resources which could better be used elsewhere.
Perhaps it’s difficult to face up to this because when you do find out, you then have a decision to make – do you disengage from them or is there an opportunity to turn them into a worthwhile client through conversation and negotiation around what you do for them and for how much.
If you haven’t reviewed your clients for a while I would recommend getting some help to do this by a professional that is qualified to analyse your business and come up with some suggestions as what your options are. It may cost you a bit of money in fees to do this but it could be a very worthwhile exercise and it may change the way that you do business in future.
You may never look back!