It’s a (business) match! All companies are looking for more clients. It is a very common goal and a great one if you ask me. It is equally as important as having the right clients. A bad client can look different from company to company. Overall, you want to avoid clients that don’t pay, and don’t respect you or the agreements you mutually signed previously. If you want to read a case that underlines the importance of having good clients read our previous article by clicking here.
Now that we are all on the same page, the question is, how do I know which customer is good for me? Make sure you know what you are looking for in a client. What would be ideal for you? What are your limits? What can you be flexible with? Here are three tips that will help you answer these questions and protect your business:
- Screen your clients.
Not all clients will be a good fit for all businesses. Make sure you can provide value to your client and have them return to you. Here is how you do it:
- Make a list of “must-have” properties your ideal clients should have.
This list should not be extensive, maybe 3 or 4 items you want to have in your prospective or ideal client. It would probably look like, “I will not go below this price point,” or “I will not take on a client who procrastinates and is not committed to the deadline.”
- Make a list of “preferred” properties.
The properties on this list help you distinguish between the ideal clients and those you can take on, but you will probably need a little extra work for them to have the best value.
2. Get everything on paper.
Sometimes, a business needs to have agreements before it starts to work. Examples of these are the warehouse story I told you in the previous article (click here to read). It is also great if you work with intellectual property or are entering a business partnership.
3. Consider cutting ties.
Sometimes no matter how hard you try, conflicts cannot be resolved, and clients bring unnecessary stress. Sometimes the best thing to do is to cut ties with those clients. Evaluate if a client is creating more tension than what is worth or negatively impacting your business.
Making sure you work with the right clients is one thing, but you should also make sure you protect your business legally, you are on the same page with your partner (if you have one), you are up to date with employment law, etc. If you need help protecting your business and operate in California, contact Focus Law on (714) 415-2007, or schedule a kick-off meeting by clicking here.