Tuesday, September 28, 2010

80/20 Rule

Most of you know the 80/20 rule:  80% of your business is going to come from 20% of your clients. It doesn't matter what your industry is or what you provide in service, most of your new business will be created from existing relationships.  What does this mean?  You need to cultivate these relationships by having regular contact with the decision makers and the people who place the orders or those who directly do business with you and your company.  We live in a time and society where things are changing constantly at a very rapid pace especially in the areas of technology.  Make it a point to set up regularly scheduled check-in (maybe quarterly, semi-annually or the very least annually) to see what has changed with your client.  Asking questions around how you are performing, what is something you need to know about them to service them better or differently, etc.?  This will serve you in the long run and keep you on track with your clients.

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