When you run a business, you run into customers along the way (that’s kind of the point). However there are times when customer relationships can be difficult to comprehend and these relationships can be a strain to your business.
Most business owners feel they need to pay attention to every customer who comes through their door. But this is not always the finest choice. Just because somebody is interested in buying into your business doesn’t mean they’re a good customer. To grow your business, bad customers need to be fired and cut-lose.
One time or another, your business will come across customers which are foul-mouthed, egotistic and insulting. These customers make unreasonable demands and expect you to give it them at half the price! Dealing with these customers can be a huge drain on your morale, time consuming and counterproductive.
Clients that don’t fit within your targeted service or product focus may be costing your business money. Don’t promise these customers products and services that you wouldn’t usually issue just to keep them happy. You need to assess these customers and summon whether their custom is worth the stress and effort.
Has your business got loyal customers who wear your service like an old pair of jeans? Perhaps your services used to be a good match, or perhaps never were, and they expect you to give them something which isn’t quiet right for your business. Whatever the problem, these customers (although loyal) are not getting what they need from you. This means that your company is bad for them.
If relationships are simply not working, you must end on good terms before things turn sour. When customer relationships turn bad, your business will be at the loosing end of the relationship and you will probably receive complaint after complaint. You only have so many hours in a day and you need to make them count; ditch these customers before they ditch you.
You must be familiar with that old 80/20 rule right?! The one that predicts sooner or later 20% of your customers will be driving 80% of your profits? Well, the underlining meaning of this quote is: you must be focusing your time on clients who are the most profitable.
Customers who expect the full-service with a limited-service budget will become the bane of your business existence. If you try to meet their needs they will not compensate your efforts and leave you feeling drained. Don’t loose money on these dead-weight customers as they are not worth the struggle!