Jon Nastor, host of the Hack the Entrepreneur podcast, wrote about something that’s been on my mind as of late since the Authority Rainmaker event a couple of weeks ago.
Here’s the quote from his weekend newsletter (I recommend signing up):
It is much easier and more effective to simply repel the people that will never be into you, your brand or your product.
From your attitude to your company culture and branding, you can repel and discourage people from following you. Yes, repel as many people as you can and those who are left paying attention will be your true fans. – Jon Nastor
Think about it.
What would happen to your business if you focused on serving fewer, better clients?
It’s tempting when you’re starting a business to want to say yes to everyone. But what would happen if you said no to the customer who asked for a discount?
What if you said no to the home buyer that kept asking you to take him/her out to look at homes every day but doesn’t want to commit to signing a buyer’s agency agreement?
Fewer Clients = Better Service
When you have fewer clients to service it means you get to give them more personalized attention. They’re not just another cog in the custom service machine.
And when you deliver better, more personalized service, you win. After all, customers don’t want to feel like just another number. They want to feel like they matter to you. Like you’re in business together and you’re there to help them be successful.
It’s hard to do that when you’re doing volume. It’s much easier to do that when you turn some customers away and focus on serving each customer like they’re your only customer.
Fewer Clients = Faster Growth?
I put a question mark on this one because your results may vary …
I recently increased my prices. What I found was that it’s just as hard for me to earn a customer at the higher price point than at the lower price point. In some cases it’s even harder at the lower price.
One customer at my higher rate also equals about 4-5 customers at my lower rate.
So not only am I serving fewer customers, better. I’m also earning a profit, faster.
Yes, it’s frightening to increase your prices because you might turn some people away. But the upside is also good. If you work hard and you’re good at what you do you’ll find that you’ll get the opportunity to do your best work with the right customers.
So I’ll ask again … what would happen to your business if you focused on serving fewer, better clients?
Photo Credit: Photo: Markus Spiske
I found this topic KEY to becoming truly successful. Not only can you give a more personalized service but you get to choose who you work with…on the long run. Its profitable and can save you a lot of headaches along the way with those customers who won’t get it.