Unless you are in the business of
selling a complete commodity product or service, which relies exclusively on
massive numbers of people buying your easily substitutable, low value product
or service, you will find that the Pareto principal applies. Where 20 % of your
clients give you 80 % of your business and 80 % of your clients give you 100 %
of your headaches and only account for about 20 % of your sales.
For me this looks like a
no-brainer, you must obviously invest as little time as possible focused on the
80 % of your clients, who give you only 20 % of your revenue but seem to give
you 100 % of your challenges and focus as much energy as possible on the 20 % of
your clients, who give you the majority of your revenue. The best way to do
this would be to create an effective system to service the 80 %, so that you
could free up your time to focus on the 20 % who are giving you the return you
want. Or even better eliminate the 80 % of low value clients from your business
altogether and only work with the right valuable clients.
Narrow
Your Focus and Target your Clients.
I have found that the key to
generating more profits is never about constantly trying to acquire more and
more clients. The key to sustainably growing profits in your business is about
acquiring only really valuable clients and then investing everything possible, into
providing them with the most incredible levels of service and the perfect
solutions to their challenges. The objective of any good sales person has thus
got to be around, discovering, prospecting, and building mutually beneficial
relationships with the most suitable or most valuable clients possible.
This strategy will see you easily
grow not only your sales, but your margins as well. Less in this case is most
certainly more. It is not easy to identify and qualify the right or most
valuable clients, but in the long run it is most certainly worthwhile. It
requires you to have a very clear understanding about your own product and
service and what it can do for your clients. You must also have a crystal clear
understanding of your prospects and clients’ specific needs and most
importantly you must be clear on what you want to achieve with them.
It
All Starts with a Clear Vision
This can only come together if
you have a focused, razor sharp and crystal clear vision, about exactly what
you want to achieve. Once you become clear about what you want and you are
clear on exactly what you can offer in the form of products or services to your
clients, discovering which client’s suite your right client or most valuable client
criterion, becomes simple. Successfully selling, building margins and generating
sustainable profits in the new age of business, is no longer about acquiring large
numbers of clients. It is about focus, research, understanding your markets,
and product or service offering and then investing time to build mutually
beneficial relationships with the right or most valuable clients.
All the information you need to
successfully follow this new sales strategy is available and easily accessible
on the internet. The challenge to make this work for you though, is that you
are going to need to make a paradigm shift to the way you approach sales.
Remove the need to provide service to low value clients, so that you have the
ability to provide outstanding levels of service to the few select, valuable
clients, who contribute the most to your bottom line and your profits will soar
and your challenges and headaches will disappear.
Author: Andrew Horton Motivational
Speakers
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