- Feature Article: Cull Your Client Base In Order To Grow…
- BOSSMENTOR® Update: Working off the Easter food-fest!
- BOSSMENTOR® Recommends: Learn the techniques of the world’s top strategic consultants
“A positive thinker does not refuse to recognise the negative, he refuses to dwell on it. Positive thinking is a form of thought which habitually looks for the best results from the worst conditions”. Norman Vincent Peale
BOSSMENTOR® Update
Hi there!
I hope you all had a wonderful break over Easter. I had the most fabulous time – catching up with friends, going down to the beach, out for breakfast, out for lunch, out for dinner, interspersed with little treats with those ‘evil’ but delicious Easter eggs! Good grief, Easter was one big food-fest!!
I know I’m not the only one who is headed back to healthy eating, exercise and skipping the chocolate! I actually dislike going to the gym but back into it with a vengeance this week. Hope to report continued discipline in next issue…. J
Are All Your Clients Helping To Grow Your Business?
Don’t underestimate the power of ‘client culling’ to grow your business. I’ll share what it’s done for my business in the feature article!
“Cull Your Client Base In Order To Grow”, by Jenny Stilwell
This may sound a bit harsh, but it’s not about the client as a person, it’s about their value to your business. Just as you grow your business, you need to work with clients who are also in growth mode, or who have the potential to do so.
One year, in the very early days of starting my business, we had a lot of success with our marketing activities. I’d focused on speaking engagements and writing articles for business and other publications as a primary marketing activity. Every event or article produced inquiries that led to meetings for business owners wanting help with growth.
Many of those people were not in a position to engage a consultant, but I wanted to still help them in some way – because I could, and because they needed and wanted help. I offered ‘cut down’ offerings at a fraction of the usual fee because I didn’t want to send them away. That year I acquired many new clients as a result of my decision to help, regardless.
The next year, I ‘culled’ 60% of the new clients from the previous year. I didn’t actually ‘do’ anything to them except advise them that I couldn’t assist them any further but that I could provide ad hoc tips and advice through this newsletter.
Of the remaining 40% of those new clients, the smallest client grew in value the next year. They were in growth mode, had reached a level of growth where they needed to make some decisions regarding future direction and their business model, and they wanted support. Their first year working with me was a test – could we work together, could I provide the support they required, and more importantly for them at the time, could I help them achieve the outcomes they wanted.
That client has grown over 3000% in the intervening years and I’ve had the satisfaction and enjoyment of being part of that growth and helping to drive it.
Other clients typically grow 200-500% over a few years, on their first year value.
Importantly, ‘selected culling’ of clients that aren’t the right fit for my business enables both my company and my clients’ companies to grow because:
- I ultimately have more time, attention and availability for the clients I want to work with
- I am able to focus solely on those clients, and help develop solutions that will take away their challenges and barriers and help them grow
- Being able to say ‘no’ gives me the freedom to choose to work with people I like and whose values resonate with my own
Some time today, or this week, go through your client list and be ruthless! If you gave up, say, 10% of clients that weren’t contributing to the growth of your business, what could you do for your top 10%?
WANT TO SEE MORE ARTICLES LIKE THIS ONE?
See the BOSSMENTOR® Article Archive: Business Articles
WANT TO USE THIS ARTICLE ON YOUR WEBSITE OR YOUR OWN EZINE? No problem! But here’s what you MUST include: Jenny Stilwell is the creator of BOSSMENTOR® Business, a FREE ezine for professional, lifestyle oriented business owners wanting to confidently increase the value of their business, ultimately spending less time in it. You’ll get proven strategies, tips and resources designed to help you achieve success. To receive your free e-book information, and sign up for how-to articles on creating and managing business growth, visit www.bossgroup.com.au .
BOSSMENTOR® Recommends
For those building a consulting practice, and others running business services firms, this book will provide some very useful insights. “The
McKinsey has been described as “a breeding ground for gurus” and “McKinsey is to management as Cartier is to jewels”. This book has lots of its own little jewels, like:
- the secret of pre-wiring your presentation to guarantee success
- 3 keys to composing highly effective communication
- Handling a ‘liability’ team member or difficult colleague
- And more….hope you like it!
About BOSSMENTOR®
Business consultant and mentor, Jenny Stilwell, is the creator of BOSSMENTOR® Business and the Director of BOSS Management Group.
Jenny helps her clients take control of their business growth, so they can focus on what’s important in their lives. She helps her clients get really clear on strategy, structure and business growth, as well as provide proven strategies, tips and resources to help business owners achieve success. Learn more now at www.bossgroup.com.au.
BOSS Management Group, Suite 3, 8A St Andrews Street, Brighton, VIC 3186, Australia. Phone: +613 9592 3844, info@bossgroup.com.au.
