Are You Serving The Best Or Worst Clients? - Question #11

Welcome to the eleventh video in the series. We've covered allot of ground so far and recently we've moved into asking questions about your clients. In the last video we asked how many clients you have so we understand something about your risk and the strength in your client base.

I have several questions about your client base. The answers to these questions start to paint the picture of how strong your brand is, where you focus your sales efforts, and why you might be struggling with profitability.

Now that we know how many clients you have, what's next?
We need to know which market segments they're in?

By knowing which industry segments your clients are in this starts to give me a feel for the larger economic factors that could affect your business as well as which opportunities you're executing on and which ones you're not.

If you sell into residential then we know that events like new housing starts each month may be important to you. In the late nineties if you sold irrigation components then housing starts were important to you and you cared a lot about what the Fed was doing with interest rates.

The other reason we ask this question is to know whether or not you're selling to the best clients in the market. This is another place we find opportunity in your business.

There's a good - better - best logic to products and services. Each of these has a target market. Do you have something for each of these segments? Do you want to? Or maybe you're missing an opportunity.

This question leads us to second level questions. If you're missing out on a big market opportunity, why? Do you have everything you need to compete in that market segment? Do you know what those things are that you need? Can you meet the quality or accounting standards that you need to deliver there?

The market segments you serve have a big impact on your business. Once again we've learned some really good information about your business.

For more free business coaching tips and free resources check out my site at: https://www.askphilipwilliams.com

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