If you are tired of working for low value clients, I have an idea I would like to share with you. It has helped me attract the best clients, avoid the worst clients and build an extremely successful business.
It can do the same for you. Allow me to explain.
A very deliberate choice
Before deciding to accept a new client, I ask myself the following question:
Is this prospective client worthy of my best work?
- If the answer is Yes, I accept them as a client and provide them with the best work I am capable of.
- If the answer is No, I don’t work with them.
- If I agree to work with a client and later find they lied to me, to make me say Yes, I fire them.
Here’s the payback
As a direct result, I have never had a cash flow problem. I have never had to face a client I didn’t enjoy working with and always had the freedom to do my very best work. By being able to do my best work, my clients get great results, so my client retention is exceptionally high. Equally, my clients and former clients are a constant source of high quality referrals.
The opposite approach is to accept any client who says they want to work with you.
- To work for clients who pay you late and ruin your cash flow.
- To work for clients who are over demanding.
- To work for clients who take the joy away from your work.
Every business owner, including you, makes the decision. You either decide to work with the people worthy of your best work or to compromise and work for those who are not.
Beggars can’t be choosers, Jim!
When I share this idea with business owners, the typical answer from those who will work with anyone, is that beggars can’t be choosers.
The thing is:
- They are business owners, not beggars.
- They are already choosing, by choosing to work for low value clients.
High value clients lead to more high value clients, as they recommend you to their friends and you become known for servicing the quality end of the market.
Low value clients lead to more low value clients, as you become pigeon-holed as servicing the cheap end of your marketplace.
In short, if your current client choices are not working for you, it’s time to try another approach.