Is Your Client List Worth It?
The big players do not think in terms of restrictions. Instead, they think without limits—something that allows them to soar to levels that many others consider impossible.
Here are two quick steps you can take today to expand your business
1. Work With People You Hate: It’s not the time to hold on to any beliefs from the past that will keep you from moving forward. Relinquish any restrictions about your “ideal” or preferred customer. Make adjustments in the way you think, the people with whom you’re willing to work, and how you conduct business.
You may not even be aware of some of the things that are holding you back—so you may have to do some digging. What you did yesterday may have worked then but probably won’t be relevant today or tomorrow, so be willing to open up your client base. If your typical customer profile has diminished or clients have cut back on their budgets, you may have to break some of your previous rules for those with whom you do business. This isn’t a time to be selective with your criteria.
Related Article: Haters
Let’s say, for example, that you are an accounting firm that has traditionally only worked on major annual reports. Now you might want to consider doing smaller quarterly reports—without your normal annual agreement—in order to generate some much-needed revenue. Maybe you expand your client profile to include smaller companies as well.
This doesn’t mean you throw your standards out the window and work for anyone who calls you; you’re simply readjusting your acceptable criteria to accommodate a wider range of prospects and projects.
2. Is Your Client List Worth It?: Ask yourself why you don’t do business in a particular zip code or with a certain sized client or group? Start looking for new markets and clients, and spend your energy and resources to determine what you have to do to go get them.
Reassessing your list of potential clients should be an operating basis at all times. Your willingness to work with a broader range of people—may cause you to find yourself opening up to opportunities you’ve never imagined before, expanding your power base, and finding sales and clients that you might have missed, denied, or overlooked during better times.
If, for example, you normally have a minimum project fee of $1,000, you might accept $500 assignments, but you probably would not take on $50 assignments. When you think about it, there are probably a lot of things you do for free every day anyway.
While the initial presentation you make prior to earning someone’s business costs you money. It’s usually free to that person, and you may or may not get the business. I always remain open to creating new relationships in order to establish new contacts that may one day become regular clients.
You need clients, relationships, business flow, action, new relationships, and new business. Change your thinking and write down a list of clients with whom you have previously preferred not to work because of spoken or unspoken agreements. Keep all your attention on what you’re going to do to create a new tomorrow and stop putting restrictions on those with whom you consider doing business with.
Hope that helps,