My clients and many of my readers are small and home-based business owners, and one of the biggest struggles they face is getting new customers.
Getting new customers is costly and requires a repeated effort. Once you have a customer it is easier to retain them as long as they are receiving value and benefit from their relationship with you.
I recall a woman I dealt with years ago while I was serving as an executive member for our police association.
The legal name of the association was changing and we needed new letterhead, business cards, etc.
I knew this woman was trained as a graphic artist and was starting her own business.
Always wanting to support new entrepreneurs, I asked her if she would be interested in preparing several samples of draft letterhead and business cards for our review.
She was excited about the opportunity and informed me she didn't have any set prices, but would create some designs and provide a proposal if we decided to accept her work.
She provided three samples to choose from. The designs she created could be used interchangeably on the letterhead, envelopes and business cards.
Her work was good. Our Executive Team reviewed the samples and selected a favorite.
I contacted the woman several days later and informed her we liked her designs and were interested in purchasing one. I then asked her to submit a written proposal for our consideration.
When I received her faxed quotation I almost fell off my chair. She wanted $750! She provided a breakdown indicating $200/hour for three hours work, and $150 for the design.
When I presented the quotation at the next executive meeting, the team members' jaws dropped and the graphic artist's proposal was unanimously denied.
What was her fatal mistake?
She was building a new business and although she may have had exceptional skills and the potential to become a high earning graphic artist, she didn't understand marketing strategies.
She didn't understand the concept that acquiring the client is crucially important and that once you have a relationship established, it is easier to sell to them again in the future.
It is important to recognize the lifetime value of a client or customer instead of focusing only on a one-shot, money-making deal.
If this woman had provided an irresistible offer, she might have established a relationship with us and could have created the opportunity to sell again and again as we required brochures, posters, etc. for ongoing events.
In the end, she invested three hours work and walked away with no client and no money.
What is the lesson here?
You have a huge responsibility to do whatever it takes to make it easy and irresistible for a potential client to enter into a relationship with you.
You don't want to make it difficult or impossible.
Everything you do to secure a client should revolve around making is easier and more appealing to do business with you.
You want to make it easy for a prospect to say yes to enter into a relationship with you because once you have established that relationship, you may keep that client for many years during which you may benefit from referrals, ongoing purchases and higher level purchases.
Think about what you're doing now to attract new clients and what can you do differently to create an irresistible offer for them - something they just can't say no to.
This week, try something new. When you communicate with your next prospect, make an irresistible offer and see what happens.
Laurie Hayes, a Life Strategy/Small Business Coach, works with small and home-based business owners who are overwhelmed by wearing too many hats. To subscribe to her free newsletter visit http://www.wheretheheartis-lifecoaching.com
taxi from O'Hare Bismarck .. Lockport Chicago limo O’HareWho is responsible for maintaining the business relationship?Nurturing a business... Read More
Let's face it, we all tend to get stuck in... Read More
Why Alliances FailWhen do you know an alliance is falling... Read More
Sacred cows take a long time to die. We get... Read More
Here's why 'WHY' is such a profit-making marketing trigger."Stop taking... Read More
Work smarter, not harderWhat is one of the best ways... Read More
One of the primary concerns all small businesses have is... Read More
Hogwash!That's what I say to people who tell me that... Read More
Ongoing support for a franchise system is omnipotent. A major... Read More
Commonly folks have asked me what the technical difference is... Read More
If an organization lacks a mission statement, it is worthwhile... Read More
One of the biggest excuses franchisees of home based and... Read More
Running a small business requires many skills. However, to do... Read More
One of the major complaints in the QSR Quick Service-Fast... Read More
Self-cleaning glass has been talked about a lot, with such... Read More
What's your job profitability? Do you know?Many business owners are... Read More
I'll be the first to admit that I went a... Read More
Buyers want both online and local information about where to... Read More
If you are a small business you know that you... Read More
1. There Are No "gimmes" ? They count two-foot putts... Read More
Anyone in business today realizes both the natural dependency on... Read More
Tammy, a skilled and gifted horticulturist, called me to discuss... Read More
As small business owners we're in business to make money... Read More
Shopping for a franchise is easy if you know what... Read More
Many times small businesses want to expand their businesses and... Read More
Granger Lincoln Stretch limo rentals ..Like most regulatory bodies in the United States, the Federal... Read More
How do you sponsor an event and get personal introductions... Read More
Until the day I learned to play chess I loved... Read More
A recent survey indicated that clean Taxi Cabs Fleets have... Read More
It has been said that the only constant is change.... Read More
The choice to incorporate a small business in Florida has... Read More
Running a small business requires many skills. However, to do... Read More
If small business had no important outside audiences, it wouldn't... Read More
Car Wash Crime in the Hood. Apparently not everyone is... Read More
No matter what kind of small business you have, you... Read More
You can make your trade show experience much easier by... Read More
You are selling your small business (business value under $1... Read More
Recently one of my customers told me the chaos swirling... Read More
Do you have all the customers your business can use?The... Read More
The less a business pays for goods and services the... Read More
You've heard marketing and advertising gurus quip, "Sell the sizzle,... Read More
Every company has business pain, but the pain does not... Read More
Last summer the FTC put forth a report and then... Read More
Most small businesses will not even try to advertise on... Read More
Everyone loves a good story. Whether it's the story of... Read More
When is it a good thing to say no to... Read More
Today required franchise disclosure documents are over 200 pages generally.... Read More
If a customer owes your local business money, it's hard... Read More
Here are seven ways for owners of small businesses to... Read More
Most small business owners seek advisors who can help them... Read More
Small Business |