Tuesday, August 16th, 2022

My margins have changed, I have more customers than before, but I am working harder and my accountant tells me my profit margins are down. What shall I do, even my staff is beginning to view each new customer as a problem rather than an opportunity? I sense that we are serving our clients well at great expense to our employees’ job satisfaction- this cannot continue without something cracking. Maybe I should add people- but how can I do this when my profits are eroding?

There are many businesses that have gone through a review process and ended up with less clients and made more money. Much has been written about the value of keeping your clients and that the best source of new business is from your existing clients. Also, as business owners we know that to meet our growth goals we need to develop new business also. How do we maintain the balance of servicing our existing clients and grow our business in a cost effective manner?

It is time to review your customers and determine which ones are better and why.