Do you know what it’s like when your heart is beating as fast as it can, and your days and nights are filled with thoughts of him…or her…or, in this case them (the “them” being the clients who are consuming your time, monopolizing your revenue stream and turning you into a sitting duck if something were to suddenly change)?
Having a single client comprise the lion’s share of your business is misery just waiting to happen unless you take steps to spread out your business and ensure that no one client is more than 20 percent to 25 percent of your billings.
I’ve seen the fallout when there is, yes, a falling out, and falling outs do occur in the best of romantic relationships and in the best of business ones a well. Take care. Here are some steps to prevent this from happening to you:
Review your accounts on a monthly basis and if you notice that one client is “taking over,” start to quickly develop your action plan to prospect and acquire more new business.
Make certain that the “big dog on the porch” client is exquisitely cared for and don’t run the risk of taking them for granted simply because they have been with you for a long time. But just as romantic relationships can end, so too can your client decide to do business elsewhere. Don’t be caught off guard; take steps to replace departing business with new accounts.
Consider bringing in a business consultant, coach or sales trainer to help you gain a better perspective on your business. This outside perspective is invaluable in analyzing your current market and in helping you escape from the stranglehold that one huge client can have on your business.
“Without You”—it’s a pretty song but one that you don’t want to sing in your business.
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Adrian Miller is the founder of Adrian Miller Sales Training. To find out more or to visit her blog go to http://adrianmiller.wordpress.com.