More Customers .. Not always required !

Yes, more customers isn’t always right !! Imagine !! You need the right clients, even if that is less than having a large database of headache creating and profit-draining clients.

Because , bad customers;

  • Don’t pay you !!
  • Push you to reduce your profits.
  • Don’t communicate well !!
  • Demand extra revisions, extra support .

So, if you have some problematic clients .. More of them means more problems for your business, and more costs to operate .

So, how great clients act ?

  • Great clients pay well – give you more profits .
  • Great clients pay you on time !!
  • Great clients don’t demand extra works !
  • Great clients let you follow your policies and procedures.

HearthSongIf this is so clear .. Why don’t everyone do business with great clients?

Well… because great clients can’t be chased , they have to be attracted !! You have to give them a great environment ( causes ) to come for you, same as a magnet !!

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How to do business with great clients?

1st – Act “professionally”.

Great clients are mostly professional, and like to work with similar parties !!

If you don’t believe there are “great clients” in the market, you won’t find them – as you won’t prepare your business and procedures to handle their special requirements – and they won’t be “attracted” to you as well – a mutual beneficial relationship !!

You don’t need a lot of customers really ; who see you as a cost-burden for them, and want to benefit more from you. You want great customers , who would respect your business and your need to grow and continue your operations .

2nd – Be selective when dealing with clients !

You shouldn’t look to “collect” clients , even if your business is new, be selective – think of the market’s “cream of the cream” and work towards it, look for the “great” clients and how to serve them, promote your skills and show what differs you from others .. This is important.

Don’t chase the clients , they would notice what you are doing to secure their business , and would start asking for more, much more – gifts, discounts, bonuses and so on.

Set yourself / your business to show professionalism and able to serve the clients’ needs, meet their expectations and great clients would reach you then – simple.

G2G Limited - Go2Games

3rd – Filter your clients !!

Yes, filter the prospect that is coming for you by asking detailed questions about the task / order that is being offered for you. Better understanding of the prospect’s requirements and expectations , gives you a deeper understanding of your own abilities and benefit for fulfilling such demands, or not !

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Now, you decided whom to do business with , so what ?

You have to work your best, and deliver… or better saying : OVER DELIVER.

Yes, deliver more than what you great clients expect from their interaction with your company – what you are offering, how you are offering it, when and details related for what you are delivering.

You should care for “what you feel” when delivering – corporate or individual feeling ! Yes, you should be happy for what you are offering, and be generous too , clients note your kindness, caring and generosity and would compensate that for you , generously too.

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Understand that : When you serve a great client, he/she would refer another “great client” , and more of good is better !!

The total profit from this great client, and the more he/she would bring to you is really worth the hard work associated , and the time & efforts given to accomplish the work required ..

– Do you think you are dealing with great clients ? Let us know in the comments form down . Thank you in advance for sharing.

Be Efficient OR Be Effective

Well… you get one life, and it is a precious life. So you should better spend it in the best way, to achieve the best results , shouldn’t you ?

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Social scientists , and productivity experts , often suggest that you should focus on being effective rather than being efficient !!

Efficiency is about getting more things done.
Effectiveness is about getting the right things done.

In other words .. Be productive and do right things, and no need to do all things you can do !!

How to decide if this matter is important or time-wasting thing ? We recommend using the rule named 80/20 !!

What is the 80/20 rule ?

The first scientist to discuss this principle was “Vilfredo Federico Damaso Pareto”, who had major contributions in social sciences & economics while living in Italy between 1848 – 1923. He stated this rule in 1906 , after noticing that 80% of Italy’s wealth & lands is held with 20% of the country’s population, and from there he started the thinking !!

Vilfredo Pareto 1872. Courtesy of WikiPedia Site.

Pareto started studying land and wealth distribution in other countries as well, and found the results nearly match what is in Italy. He made his thoughts after that;

Pareto’s principle states that: In any particular category – a small number of clients or factors, account for the majority of the results – 20% of the clients make 80% of the profits .

Here , “Few” tasks counts more than “quantum” tasks.

You would review problems you are facing in your life, or matters that consume your powers and times, and you will find that 80% of your time consuming matters generate only 20% of the life’s results.

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Let’s discuss some examples here :

  • 80% Of car accidents are caused by                             20 % of the drivers !!
  • 80% Of Lottery buyers are                                             20 % of the society !!
  • 80% Of environment impact is caused by                  20% of the world countries
  • 80% Of the food is generated from from                    20% of the farms worldwide

& in the business environment , Pareto rule confirms that :

  • 80% Of Corporate’s profits comes from                     20% of the Corps’ clients
  • 80% Of Corporate’s profits comes from                     20% of the Corps’ products !!

So , to maximize your efficiency in business , you should focus on the vital 20% of activity. But don’t leave the other 20% , since markets change and clients grow & decline easily.

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Let’s say;

إou have 10 tasks to accomplish today ! Simple note. You can increase your efficiency by considering the 1st two tasks first, and complete them as a start, this means you finished 80% of your tasks load easily !

You can also delegate or delay performing the pending tasks, and you would feel satisfied and productive !!

This implies to the IT world and software errors. In a memo dated 2002 , Microsoft CEO then Steve Ballmar, to his employees , stated that : “Microsoft has learned that 80 percent of the errors and crashes in Windows and Office are caused by 20 percent of the entire pool of bugs detected” . And they changed many of their procedures after that !! Read the full article here

How be more efficient in – the business environment?

Here are some ideas about how to increase your efficiency by following the Pareto principle : Montavue

  • Better daily planning;

Since performing 20% of the tasks related to 80% of the results required, you would set the most prioritized tasks first, and remember that they would consume 20% of your day’s time.

But don’t neglect the other 80% of your tasks, they are required for your total performance and goals.

  • Delegate tasks

In the business world, managers can’t do all tasks themselves. Yet a lot of goals and achievements are required from them.

And in order to raise their performance , and be more efficient, manager or business head should concentrate on 20% of the goals required from him, and how to achieve them – delegating the balanced works to other staff around the head.

  • Risk assessment and management

By identifying the risks the business face; whether they are in customers management procedures, sales environment, strategies, financials or whatever category the

corporate faces, the corporate should concentrate its resources and procedures to solve 20% of the highest risks to encounter, which would result in solving 80% of the problems .

But corporates shouldn’t leave the other 80% of risks unattended or solved, since they could grow and become a serious threat later to the business itself.

  • Profit generation: By focusing sales efforts to the most profitable 20% of the clients, or to gain 20% of the market’s opportunities.


HearthSong

Such strategy , definitely, won’t please everyone you work with, but would generate enough profit to keep your business going , and then you can take care of the rest of the clients who deal with you, growing your profits even more !!

So start thinking of your effectiveness of doing less, yet more important and more impactful tasks, more than your efficiency doing hundreds of minor tasks, and the result is minor too !!

Have a say, write it down and we are happy to listen …

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