Too Many Clients - Not Enough Money!
Instant Cash Flow Tips
Quite often we find that 80% of a business' profit comes from 20% of its clients. You may even find that the other 80% of your clients are costing you money! This situation is the result of something called the Pareto Principle or the 80/20 Rule. Click here to discover how this simple rule can help you make more money with less time required .
All business owners can normally reel off names of clients who consistently complain about how long you take, how much you charge, want to return goods because they ordered the wrong product, then take months to pay.
Many business owners tell us, "It's hard to get good clients." It's not hard; it's just that nobody ever taught you how to attract the right type. After all, how many hours do YOU spend a year learning about technical or product issues? Now, how many hours do you spend learning about better selling and marketing? If it's not about the same amount of time for both, you'll probably find your potential for success limited by your 'personal exertion' and that your 'creativity' is copying ideas your competitors come up with.
Here's how you can progress down the path to attracting better clients…
Define Your Uniqueness …
If you aren't unique, then the only reason that people will deal with you is if you are cheaper, more convenient, or easier to push around than other businesses. Click here to learn more about how you can develop your own Unique Selling Proposition (USP).
Define Your Ideal Client …
Now you need to define your ideal client. This involves working out what makes a client profitable and at what point they become a cost to your business. Many businesses put up with clients that consistently pay late; change their minds or appointments; expect miracles in terms of timing; insist and haggle over discounts, and are just downright stressful to work with. It should be a privilege to do business with you, not a right. Clients that are not profitable should be 'fired' or at least discouraged from using your service or buying your product. The first step to doing this is to define at what point a client stops being profitable.
Firstly, your clients can be classed from A to D, with A's and B's being profitable and C's & D's being a cost. Start by looking at your most profitable and ideal clients; what do they do; what characteristics do they have? Then, look at your worst clients and list their typical traits. As a rule of thumb, you should end up with about 20% of your client base being 'A' grade, about 30% being 'B', 30% being 'C' and 20% being 'D' grade.
Once your clients have been defined into four classes, the A's & B's should receive a letter of appreciation telling them that they are your best clients and encouraging their continued business. If you have a small customer base, then you will want to repeat this message verbally, by phone or in person. You may wish to talk to some clients, while it might be appropriate for your sales team to speak with others. These simple steps can make a huge difference.
The C's & D's should be sent a nice letter explaining your business practices, and encouraging them to become A and B clients by making it clear what you expect from them in return for your products or services. If there is no change from a C or D client after a couple more contacts, you should cease doing business with them; refer them to your competition! They are costing you money!
So now it's time to take action…
Click here to find out more about how you can upgrade your marketing, sales, and business profitability.
A breakthrough in Business Education - Leverage: The Game of Business
Learn more in three hours than some business courses do in three days!
You're invited to play Brad Sugars' $US 295 Game of Business 'LEVERAGE'…
Come along and join local Business Coaches and a dozen other GTA Business Owners in playing a sensational new board game… LEVERAGE.
It's the brainchild of 33 year old Multimillionaire Businessman and Action International founder, Brad Sugars. The more you play this game the more successful you'll become at running your own business and businesses.
It's the fastest and most powerful way there is to learn Action's Business secrets. You'll want to play it again and again. Leverage is 3 hours of fun and learning.
If you've heard of or played Robert Kiyosaki's game 'Cashflow' you'll love LEVERAGE.
LEVERAGE will show you how to work your way into super profits and at the same time show you how to create a business that works without you.
It's a break-through in business education and it'll have you racking up the profits in no time.
The principles you'll learn from this game will set you up for a lifetime of business success. It'll alter your mind as to what's truly possible. It's time you had the edge over your competition.
Thursday November 25th
6:30 pm
Action International Office
7030 Woodbine Avenue, 5th Floor
Markham, ON
(404 & Steeles)
$29.95 per person ($19.95 for second person from the same company)
To reserve your place
Call Joanne
905-943-4257
or click here
Space is very limited, so call now to avoid missing out.
Workshop
'Build a Winning Team for Your Business'
Is Your Team a Major Asset for Your Business or a Dead Weight?
Learn the simple and easy ways that really work and how you can implement them in your business!
“What do you want from your business?”
Want a significant improvement in your sales? Want to increase your after-tax profits? Want to boost your personal income? Want to take more time off? Just want to reduce your stress levels … and your business’s reliance on you? It doesn't matter how much you improve, to make really significant improvements you need to develop a Winning Team. This remarkable workshop will explain simple and easy ways that really work and how you can implement them in your business.
Tuesday Novmber 30th
Action International Office
7030 Woodbine Avenue, 5th Floor
Markham, ON
(404 & Steeles)
To find out more click here or call Joanne at 905-943-4257.
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