Fire Some of Your Customers

Dec 22, 2017 | 0 comments

Why would you fire your customers?

Eighty percent of your results come from twenty percent of your clients or customers – as a business coach, I always advise CEO’s to at least fire the bottom twenty percent because they’re sucking up eighty percent of your time!

Feels odd to be thinking about getting rid of some of your revenues, right? But the fact is that these clients likely generate very little income, and perhaps even cost you money. So why not just get rid of them? No point in keeping a customers that are not really making you any money, especially when you are trying to grow and expand.

Your bottom 20% also take up more of your time and energy too. When cutting the bottom twenty percent of your customers/clients, you can also eliminate some of the waste or overhead you spend supporting them. Doing this will allow you to free up time in all areas of your business – especially shipping, customer service, and accounting. You’ll also save time in your sales meetings by not talking about these clients.

So, again…

Fire the bottom twenty percent – clients who take up time, suck up energy or don’t pay their bills on time (or at all). In doing so, you can focus on profitable clients and get more business from new, better ones.

Who would you rather spend time with? Your top 5% or your bottom 20%? Where are you spending that time now?

So, time to start firing! Let me know how it goes!!

I also talk about this tactic in more detail in my book Double Double, Chapter 11 – How to Grow When it’s Slow.

The COO Alliance is here to help with these, and many other, challenges facing COOs today. For more information, and to apply, apply now.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Written By Cameron Herold

Written By Cameron Herold

Cameron Herold is known around the world as THE CEO WHISPERER. He is the mastermind behind hundreds of companies’ exponential growth. Cameron’s built a dynamic consultancy: his current clients include a “Big 4” wireless carrier and a monarchy. What do his clients say they like most about him? He isn’t a theory guy—they like that Cameron speaks only from experience. He earned his reputation as the CEO Whisperer by guiding his clients to double their profit and double their revenue in just three years or less. Cameron is a top-rated international speaker and has been paid to speak in 26 countries. He is also the top-rated lecturer at EO/MIT’s Entrepreneurial Masters Program and a powerful and effective speaker at Chief Executive Officer and Chief Operating Officer leadership events around the world.