Is the prospect’s requirement aligned with your core competency?
Posted: Sun Jan 26, 2025 9:22 am
Can the client afford your service?
When we first launched 14 years ago, low price was definitely a competitive differentiator. This is often the case with new businesses because they don’t have the overhead that accompanies growth. In addition, new businesses are working to build their client base, and establish their presence and credibility.
Mature businesses follow a completely different business model, having migrated from a price-oriented service to a value-oriented service. If a customer can’t afford our service, it’s not a match from a short-term and long-term perspective.
Is this a one-time client? And if it is, does that fit your business model?
For our business, one-time clients are not good investments. Many small businesses get trapped in the cycle of working with one-time customers, which forces them to live the life of a gypsy… constantly moving from one client to another.
So much energy goes into acquiring the knowledge about denmark telegram data a customer, and building the relationship. It is the same level of energy for one-time client or a repeat client. But with a one-time client, you don’t have additional business when the project is over.
Like so many companies, we’ve discovered business opportunities that look great on the surface, but once you start digging, you realize there are many other companies that can perform the work better than you can.
I don’t believe that a company can be all things to all customers. By sticking with your core competencies, small businesses have an opportunity to build a reputation of dependability and expertise in areas in which they really shine.
Is the client in an industry you currently support, or want to support?
Sometimes great work comes along that is right in your sweet spot and in the industries you serve. And sometimes work comes along that you are able to do, but it is in an industry that you know nothing about. At this point, businesses need to determine whether they want to invest the money and resources required to branch out into that industry.
When we first launched 14 years ago, low price was definitely a competitive differentiator. This is often the case with new businesses because they don’t have the overhead that accompanies growth. In addition, new businesses are working to build their client base, and establish their presence and credibility.
Mature businesses follow a completely different business model, having migrated from a price-oriented service to a value-oriented service. If a customer can’t afford our service, it’s not a match from a short-term and long-term perspective.
Is this a one-time client? And if it is, does that fit your business model?
For our business, one-time clients are not good investments. Many small businesses get trapped in the cycle of working with one-time customers, which forces them to live the life of a gypsy… constantly moving from one client to another.
So much energy goes into acquiring the knowledge about denmark telegram data a customer, and building the relationship. It is the same level of energy for one-time client or a repeat client. But with a one-time client, you don’t have additional business when the project is over.
Like so many companies, we’ve discovered business opportunities that look great on the surface, but once you start digging, you realize there are many other companies that can perform the work better than you can.
I don’t believe that a company can be all things to all customers. By sticking with your core competencies, small businesses have an opportunity to build a reputation of dependability and expertise in areas in which they really shine.
Is the client in an industry you currently support, or want to support?
Sometimes great work comes along that is right in your sweet spot and in the industries you serve. And sometimes work comes along that you are able to do, but it is in an industry that you know nothing about. At this point, businesses need to determine whether they want to invest the money and resources required to branch out into that industry.