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Home » Random

20 Days to a better business: Day 8 Who are your biggest clients?

20 Days To A Better Business: Block out timeEach Monday we focus on one activity you can do today or  over the next week to build yourself a  better business.  These short, actionable posts will show you what steps you need to take to take your business to the next level.

In case you’ve missed the previous posts, you can catch up here: 20 Days to Build A Better Business.

This is Day 8: Who are your biggest clients?

Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. W. Edwards Deming

More than likely you know the name of your biggest client by heart. But can you name your top 10 clients? If you have a leadership team can they name the top 10 clients – in order ranked by sales value?

If you study who you’re top 10 clients and customers by sales value and learn all you can about them, who the key people are, their revenues and what they buy from you. If you have a large company. Repeat this exercise with your direct reports and get your direct reports to do the same exercise all the way down the company.

That way all of your  business becomes aligned to the needs of your biggest customers and customer service will improve as everyone focuses on them.

Then look at your diary or schedule.

Do you spend proportionately as much time with those top 10 high spending client as they spend sales wise with you?

By paying more attention to your big hitters, discovering their problems and working out how you can help them. You’ll find that they become more reliant on you and spend more money. Which is exactly what you’re want. Right?

Please tell us what you think in the comments section below

Empire Building Kit

2 Comments »

  • El Edwards said:

    This reminds me of something I read in The Four Hour Work Week (which you very kindly gave me last year ;)) It was the first time I’d come across the 80/20 rule and reading how the business owner (I can’t remember now if it was Ferris or just someone he’d worked with) pruned customers and ended up increasing his take home was fascinating.

    P.S. Super fast loading time since the migration. Love it. ;)

  • Matthew Needham said:

    Thanks for the comment El. The idea behind this particular post was getting the team all focused on a common purpose, serving the biggest customers, but you’re absolutely right, the 80:20 principle could be applied here. It was Ferriss, focusing on his biggest customers reduced his input but increased his income.

    Glad you’re enjoying the load times!