Keys to Successful Businesses Boone NC

Salespeople typically rate their customers by at least four crucial factors: profitability, stability, vulnerability and potential for future business. Let’s look more closely at how you rate clients on each of those factors.

The Nelson Group Business Advisors, Inc.
(704) 707-4333
822 Shetland Place
Concord, NC
 
Global Networkers, Inc
(704) 343-0094
14045 Ballantyne Corporate
Charlotte, NC
 
Holland Cost & Scheduling of North Carolina, Inc
(704) 516-1800
17923 Snug Harbor Rd.
Charlotte, NC
 
Enventys
(704) 333-5335
520 Elliot St Ste 200
Charlotte, NC

Data Provided by:
Future State Associates
(910) 599-9380
PO Box 12187
Wilmington, NC
 
Nicole E Hudson & Associates
(704) 312-4186
15720 John J. Delaney Drive Suite 300
Charlotte, NC
 
Byp Brands Inc
(704) 365-4877
4115 Coca Cola Plz
Charlotte, NC

Data Provided by:
Shoptin Lighting & Design
(336) 289-8541
153 North Lee Avenue
Yadkinville, NC

Data Provided by:
AdviCoach
(336) 812-9899
2100 San Fernando Dr.
High Point, NC
 
ActionCOACH
(336) 510-7262
1050 Revolution Mill
Greensboro, NC
 
Data Provided by:

Keys to Successful Businesses

Salespeople typically rate their customers by at least four crucial factors: profitability, stability, vulnerability and potential for future business. Let’s look more closely at how you rate clients on each of those factors:

  • Profitability. This is by far the most critical factor because it ultimately determines the profitability of your business. To be really useful, this criterion needs to give you feedback on exactly how profitable a particular client is on a monthly, weekly or even a daily basis. You need to be able to determine if any project you are working on for any of your clients is profitable. That’s why it’s so vital to know your overhead costs.

You need to know which clients are most profitable, which clients are least profitable and which clients you are losing money on. For example, an A-rated client would be very profitable; a B-rated client would be about average, a C client would be below average, and a D client is currently unprofitable.

The challenge would be to upgrade the Cs and Ds to become Bs and As. That can be done by either improving your efficiency in serving them, or by charging them more money or a combination of those factors. If you can’t do one of those three things, it’s best to try to cultivate new clients to replace them. But don’t be too hasty...

  • Stability. A steady client who is slightly below average might be more valuable than a one-shot client that is rated B, or even A in immediate profitability. For example, I’ve had some clients for more than 20 years. Those are bread-and-butter accounts who help you meet basic expenses and smooth out the times when business is slow. So it’s a good idea to consider just how stable each of your clients is. Obviously, clients who are rated A or B on your stability scale would be more valuable than those that are rated C or D.

    Click here to read the rest of the article at SuccessMagazine.com