I've always loved this question: Is it cheaper to retain existing clients or to get new ones?
If you think hard enough you may get the right answer.
"The conventional wisdom is that it costs more to get a new client than to keep an old one. And for once, the conventional wisdom is correct.
Yet, many professionals too readily take clients for granted. Or don't look for opportunities to increase revenues from perfectly satisfied clients.
Then there's the classic story of the client who went to another firm for a particular service. "Why didn't you come to me for that service?"
"Because I didn't know you did it." It happens too often."
This last part happened to me on my journey to get loans for my day care. One day I'll discuss what happened to me.
Three reasons to drop an existing client are
ReplyDeleteThey do not pay their bills, or they can not be relied upon to pay them in a timely manner.
They take up so much time and effort that they prevent you from securing more business.
They are a bit fit professionally, either in their conduct or the appropriateness of the work that they need done.