Today, I’m going to show you how to protect your business, so that it will still thrive, even if you lose your biggest customer.
I need to start by asking you a question. It’s an important question, so take some time to consider your answer:
In financial terms, what would happen if you lost your biggest customer or client?
Many small business owners are heavily reliant on just 1 or 2 main customers. These major customers often account for a hefty percentage of their income. When [not if] the customer leaves or ceases trading, the vendor is left in an extremely precarious position. Despite this, small business owners will usually wait until the worst happens, before they proactively seek out new, major customers.
Why does this happen?
Small business owners understand the seriousness of their situation. It’s just that when times are good, there’s little motivation to invest in marketing or business development. So, they tend to put it off. Then, when they lose a major customer, they enter panic mode. They rush. They often make bad decisions, as fear influences their thinking.
This causes what is widely known as the feast and famine cycle.
A far better approach
The most successful business owners have a different mindset. They understand that the time to repair the roof is when the sun is shining. So, they make business development decisions from a position of strength, rather than wait for disaster to strike. They avoid the feast and famine cycle, because marketing is an ongoing part of their business.
I hope the sun is shining on your business right now. If it is, this is the perfect time for you to focus on attracting more high value customers or clients.
IMPORTANT: If you want to make more sales, boost your profits and grow an amazing business, this will help you!