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.
Making 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.
That decision puts a series of success factors into play, which creates the perfect foundation for business success.
Here’s the payback!
I have never had a cash flow problem. I have never had to face a client I didn’t enjoy working with. And I’ve always had the freedom to do my very best work. This is extremely important. Here’s why!
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 wonderful new clients.
The typical small business takes the opposite approach. And it locks them in a cycle that damages their business. What they do, is accept almost any client, who has the means to pay them.
As a direct result, they often work for clients who pay them too little or clients with dull, uninspiring projects. That’s not the scenario where professionals produce their best work. So, they get fewer client referrals and become stuck in a cycle of working with low quality clients.
Every business owner, including you, already 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 low value end of your marketplace.
So, build the right foundations for your business. Intentionally choose great clients. And if you think you can’t afford to be choosy, wait until you see the long term cost of not being choosy enough.