Are your clients destroying your business? That may seem like an odd question. However, it’s an extremely important one. And for most people reading this, the answer is a definite YES!
You see, a huge part of the way your prospective clients will feel about working with you, is defined by who you already work for.
Allow me to explain.
How your client’s define you
Here are just a couple of examples of how the wrong kind of client can ruin a great business.
Firstly, when a prospective client checks your portfolio or testimonials, they get an immediate insight into the quality of clients you’ve worked with. If you’ve worked for clients, who failed to give you the freedom you need to do great work, this will be directly obvious to prospective clients. Most designers, copywriters, accountants, trainers and coaches fall into this trap. And it’s usually fatal.
Secondly, if you work for clients who don’t pay you on time (or pay you enough), you will always have cash flow problems. This leaves you constantly desperate for income. Prospective clients and customers can smell desperation a mile off. They will either be put off working with you or they will use it to drive your fees or prices down.
In each of those instances, your entire commercial future is being dictated, by the quality of clients you choose to work with.
The answer: Pick your clients and choose wisely
Working for anyone who will pay you is usually a very bad idea.
- It fails you in the short term (you’re miserable).
- It fails you in the medium term (you’re not rewarded financially or professionally).
- It fails you in the long term (the process keeps looping). This is how negative cycles are created and allowed to persist.
Yes, it’s tempting to grab whatever work you can get. However, it’s the root cause of the problem. It’s not the solution.
Thankfully, the opposite is also true. When you work with great clients, on inspiring projects and your time is valued, it places you in the VIP vendor box.
Prospective clients see that you work with great people. They see the projects you’re involved in. They draw the conclusion that people like you, don’t come cheap. You then attract more great clients, you get paid what you’re worth and this too creates a cycle.
A highly profitable, enormously rewarding cycle.
For more free information on the subject, read this: How to build a successful business. It contains lots of ideas and examples.