Many of our articles focus on generating new clients (and retaining those you already have). This article will offer some tips on ways to handle a rapid influx of new customers. Just as not enough clientele is an issue, often, too many can be as well. The challenge is bandwidth – enough service personnel (in particular), space, time, etc. The goal should be a steady flow of just the right customers/clients.
First, it is important to know what your ideal client looks like. You may not have the ability, particularly in the service industries, to accept all of them. Being able to identify your ideal client lets you be a little more selective about which ones will yield the most profit – both in immediate cash flow and lifetime value (not to mention, helps inform you on where to focus your marketing efforts).
Specializing in an area will also help steer the stream of customers you may have. When there is a match, you are able to service customers quicker and therefore, overall, can service more.
Just as you can be more selective about the clientele you take onboard, you can also be selective about which clients you retain. Consider eliminating those that take up too much of your resources to clear space for more desirable clients. Many professional firms at or near capacity make a habit of culling 3-5 percent of their clientele each year to make way for potentially better new business.
Raising fees is also an ideal practice if the clients/customers you already have are all desirable. This will sort the clients/customers that are willing to pay more for your services and those who are not. Those who aren’t can be referred to elsewhere. If you’ve been following our articles, you are already aware of the benefits of doing that.
You should also be delegating or outsourcing repetitive tasks. Many administrative or repetitive tasks are easily taught to a support person and by doing so you make more time in your day to see a larger base of customers.
Likewise, boundaries are important. Don’t allow a client/customer to play on your sympathies and convince you to do something you know you should refuse (i.e. too time consuming, not your specialty and/or for free). Doing favors is one thing, but it often comes at the expense of the forgone cost of time that can be spent on chargeable existing work and new client projects.
Lastly, as you take on new work, remember to leave some time in your schedule for strategic focus. Too often, in the quest to grow (or maintain), business owners take on too many clientele, leaving themselves no time for planning strategically. Similarly, your strategic focus should also consider that a healthy business, as part of its overall strategy, needs to incorporate time for health and wellness. Specifically related to you, this means your overall strategy should recognize that you will eventually need to take care of YOU, which includes events such as doctor’s appointments, massage therapy, exercise, meditation and anything else that provides for your health and well-being.
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Titan Business Development Group, LLC
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www.TitanBDG.com
