Keys to Successful Businesses Durham 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.

Business Leader Consulting
(919) 790-6962
2612 Peachleaf Street
Raleigh, NC
 
Bear Rock
(919) 859-6610
1225 Crescent Green Dr
Cary, NC

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FYI Tech Construction
5448 Apex Peakway #189
Apex, NC

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Compu Tech Consulting
(704) 519-5491
8511 Davis Lake Parkway, Suite C 6-167
Charlotte, NC

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Global Networkers, Inc
(704) 343-0094
14045 Ballantyne Corporate
Charlotte, NC
 
Learning Technologies, Inc.
(919) 783-6900
5206 Duraleigh Rd.
Raleigh, NC
 
AdviCoach
(919) 889-0232
2204 Charlion Downs Lane
Apex, NC
 
John Bradberry Consulting
(704) 358-0913
228 East Blvd
Charlotte, NC

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Learning Technologies, Inc.
(919) 783-6900
5206 Duraleigh Rd.
Raleigh, NC
 
Ciitec Automation & Control
(704) 583-1776
3030 Whitehall Park Dr
Charlotte, NC

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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.

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