Keys to Successful Businesses Hickory 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.

J.S. Walker & Co., Inc
(704) 849-2100
416 West John Street
Charlotte, NC
 
AdviCoach
(919) 889-0232
2204 Charlion Downs Lane
Apex, NC
 
Business Advisers International of Charlotte
(704) 499-4320
2211 Rocky Knoll Drive
Charlotte, NC
 
Powers & Assoc
(704) 849-8387
5960 Fairview Rd Ste 400
Charlotte, NC

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AdviCoach
(704) 843-1077
1221 Waynewood Dr.
Waxhaw, NC
 
Nitelites Of Charlotte
(704) 364-1123
7304 Kidwelly Ln
Matthews, NC

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Profit Advisory Group
(704) 847-2434
130 W Matthews St Ste B
Matthews, NC

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Rlm Communications
(910) 223-1350
100 Hay St Ste 900
Fayetteville, NC

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ActionCOACH
(336) 510-7262
1050 Revolution Mill
Greensboro, NC
 
IF Associates
(704) 280-5286
17122 Red Feather Drive
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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