Keys to Successful Businesses Wilmington 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.

Future State Associates
(910) 599-9380
PO Box 12187
Wilmington, NC
 
University of North Carolina
(800) 433-3243
8701 Mallard Creek Rd
Charlotte, NC

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Nicole E Hudson & Associates
(704) 312-4186
15720 John J. Delaney Drive Suite 300
Charlotte, NC
 
AdviCoach
(336) 812-9899
2100 San Fernando Dr.
High Point, NC
 
Waypoint Solutions Group
(704) 246-1717
10612-D Providence Road
Charlotte, NC
 
Radford Properties
(919) 585-7251
224 Parkside village dr
Clayton, NC
 
J.S. Walker & Co., Inc
(704) 849-2100
416 West John Street
Charlotte, NC
 
Powers & Assoc
(704) 849-8387
5960 Fairview Rd Ste 400
Charlotte, NC

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Freeman Enterprises Inc
(704) 334-5076
715 E 5th St Ste 102
Charlotte, NC

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Learning Technologies, Inc.
(919) 749-5285
5206 Duraleigh Rd.
Raleigh, 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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