Get Ready to Lose Your Biggest Customer… and When you Do How to Keep the Doors Open! business has those one or two customers… the ones that represent most of your revenue… money… sales.
Every business does not have a plan for when those customers leave.
It happens.
Customers close, they get sold and sometimes go bankrupt and stiff you with MILLIONS in receivables you will never collect.
When this happens to your business, you better have a plan.
One of the best plans is to actively fill the sales pipeline with new leads. Filling the pipeline with leads and prospects must be systemized and this system needs to be run daily. This is both a hedge against the loss of business and a powerful tool to grow and scale business.
The next step is to cultivate leads into paying customers. The process of converting leads to customers is mission critical to the long term survival and growth of a business.
Be wary of having a single customer become so big that if they left your business would be decimated. This happens too often in many industries and can lead to making poor business decisions like reducing price for fear this customer might leave.
For the small business this is ONE of the reasons it is SO important to work ON the business…. You know the classic work on and not in the business.
Work on the business, systemize filling the pipeline with leads, convert leads to customers and be willing to say NO to customers when it can be devastating to your business.
?By Entrepreneurs for Entrepreneurs…?
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Ergoteknix Incorporated provides business development consulting to small businesses so they can scale from 6-7 and 7-8 figures in annual sales.