The relationships you form with customers

Last night Pavlo spoke about how most businesses start off the back of relationships and how these first relationships are crucial to your generating cash flow. 

 

Often, to make this happen, you:

1. Make big accommodations in price, quality, service to cherish and look after the relationship;

2. You build it personally, close and familiar;

3. You do things that don’t make business sense to keep the relationship happy

 

This is fine if you are happy building a small, very small business.

It’s okay if:

1. You building a job;

2. It’s a very small business that is good enough for you;

3. You don’t need the money;

 

But, it’s not okay the moment you try to grow to the next level because:

1. Growth means that you can’t do everything. That relationship will need to be managed by the business rather than you and that means a staff membe4r

2. If you don’t get this right, you will grow the business to the limits of your time

 

Getting it right is hard because:

1. People don’t like change

2. Personal relationships are often abusive and to the benefit of the customer – they don’t want to change that

3. The “deal” will most likely have to change because growth requires standardization in deals and agreements

4. You fear it not working

5. You struggle to trust the person responsible in your company to manage it

 

How do you do it:

1. Identify the activities that you perform in managing that relationship

2. Put them into a sequence

3. Be sure that these activities are trainable and teachable

4. Be sure that these activities are scalable

5. Find a system operator to perform these activities 

 

Listen to the full podcast here.

 

 

 

Play to your strengths – how the epic Mayweather-McGregor fight can take your business to the next level
The Money Show Growing business value Building your Business Growing

Play to your strengths – how the epic Mayweather-McGregor fight can take your business to the next level

Undefeated welterweight world champion Floyd Mayweather Jnr met mixed martial arts world champion Conor McGregor in Las Vegas...

Read more

Part 2: How to protect your growing business from big business theft
In the News The Money Show Business Development Building your Business Positioning your Business

Part 2: How to protect your growing business from big business theft

The tender trap   After the launch of the BLSA, and the commitments made by big business to entrepreneurs, it sparked...

Read more

Part 1: Big business commitments to small business with the launch of the BLSA
Business Opportunities The Money Show Building your Business Inspiration

Part 1: Big business commitments to small business with the launch of the BLSA

I attended the launch of Business Leadership South Africa (BLSA) – which is headed by former Shell CEO Bonang Mohale – last...

Read more

ANN7 sale should have entrepreneurs asking themselves what their business is worth
AoV Mindset The Money Show Sales Business Exit

ANN7 sale should have entrepreneurs asking themselves what their business is worth

On Monday, 21 August, we spoke to Bruce Whitfield on The Money Show on Radio 702 and Cape Talk of that day’s R450 million...

Read more

Shining a light on the business blind spot
The Money Show Family Business Succession Next Generation

Shining a light on the business blind spot

Smart and successful businessmen have faith in their vision for their companies, but they need to be aware of their limitations...

Read more

How to Turn a Struggling Business Around
Case Studies In the News Strategy Business Strategy Turnaround

How to Turn a Struggling Business Around

By Pavlo Phitidis  Turning a struggling business around isn’t easy, but it’s not impossible. Currently, many businesses...

Read more

How changing the way you look at customers creates the opportunity to build a scalable business
Business Opportunities Growing business value Asset of Value Lead generation Generating Leads Accelerating Growth Customer Acquisition Business Strategy

How changing the way you look at customers creates the opportunity to build a scalable business

By Pavlo Phitidis Ultimately, the way you look at the world is the way that the world will turn out to be for you. Just...

Read more

Building or breaking your brand and company value through reputation
Case Studies AoV Mindset The Money Show Building your Business Positioning your Business Brand

Building or breaking your brand and company value through reputation

By Pavlo Phitidis Over the past few weeks, we’ve been shocked by the news, as McKinsey, SAP, KPMG, Bell Pottinger and so...

Read more

How to choose the right business partners
AoV Mindset Shareholders Acquisition Opportunities People Problems

How to choose the right business partners

By Pavlo Phitidis Spats between shareholders can signal the beginning of your business’ end, just as it seems to have been...

Read more

Insights from Amazon's acquisition of Whole Foods to build our own businesses
Asset of Value Building your Business Strategy Scaling Digitisation

Insights from Amazon's acquisition of Whole Foods to build our own businesses

By Pavlo Phitidis   Online digital retailer, Amazon spent $13. 7 billion to buy 401 brick-and-mortar Wholefoods grocery...

Read more

 Adapt to changing customer behaviour or die
Case Studies Business Opportunities Business Development Strategy Positioning your Business Business Survival

Adapt to changing customer behaviour or die

By Pavlo Phitidis A 159-year old icon of retail in South Africa closes shop on 01 August. Failing to evolve in a changing...

Read more

Building a positive frame of mind and action in a negative environment
AoV Mindset Building your Business Strategy Personal Development Inspiration

Building a positive frame of mind and action in a negative environment

By Pavlo Phitidis We live in unstable times, and a brief look at the news headlines is almost always disheartening. Constant...

Read more

 How not taking action at the right time can lead your business to failure
AoV Mindset Building your Business Family Business Business Survival Personal Development

How not taking action at the right time can lead your business to failure

By Pavlo Phitidis Your appetite for action, or tendency towards inaction, will save or sink your business. This week, on...

Read more

Business trends from New York and London 2017
Business Opportunities In the News Strategy Business Survival Innovation

Business trends from New York and London 2017

By Pavlo Phitidis Take five days in New York, and five days in London, add in thirty-one meetings and, what do you get?...

Read more

HOW DO YOU MEASURE AN ASSET OF VALUE - A QUICK PODCAST EPISODE 1
Growing business value Asset of Value Company Valuation Podcast

HOW DO YOU MEASURE AN ASSET OF VALUE - A QUICK PODCAST EPISODE 1

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

How do you measure an Asset of Value - A quick podcast Episode 2
Growing business value Asset of Value Company Valuation Podcast

How do you measure an Asset of Value - A quick podcast Episode 2

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

What is an Asset of Value - a quick Podcast Episode 1

What is an Asset of Value - a quick Podcast Episode 1

By Pavlo Phitidis Time stretched, on-the-go and always doing too many things at once can make us forget why we, as business...

Read more

How to get the right employees to build your business into an Asset of Value
AoV Mindset Asset of Value Building your Business Scaling Team Building Employing people Accelerating Growth Next level thinking

How to get the right employees to build your business into an Asset of Value

By Pavlo Phitidis Tough economic times mean that unemployment is rife. But, as a growing business owner, you’ve noticed...

Read more

Fighting qualities that build great businesses
Asset of Value Business Development Building your Business Strategy Personal Development

Fighting qualities that build great businesses

By Pavlo Phitidis For entrepreneurs, adopting the art of fighting is imperative, because building a business is a fight....

Read more

Selecting & securing profitable customers
Asset of Value Sales Strategy Positioning your Business

Selecting & securing profitable customers

By Pavlo Phitidis Knowing how to focus your sales efforts on the most profitable customers can accelerate the growth of...

Read more

Building a business to survive and thrive in a Junk Status economy
Growing business value Asset of Value Business Development Positioning your Business Business Survival

Building a business to survive and thrive in a Junk Status economy

By Pavlo Phitidis The recent downgrade of South Africa’s credit rating to Junk Status will have a dramatic effect on our...

Read more

Pitching your business successfully to any audience
Asset of Value Strategy Focus Team Building

Pitching your business successfully to any audience

By Pavlo Phitidis Any business owner, anytime and always has learnt that you have to constantly be pitching your business....

Read more

Building and Implementing a Succession Plan for Family Businesses
Asset of Value Family Business Succession Next Generation Business Exit

Building and Implementing a Succession Plan for Family Businesses

By Pavlo Phitidis Building a family business, and passing it down as both a legacy and an asset, is seldom achieved. A mere...

Read more

Spotting the gap, simplifying the experience, scaling for success
AoV Mindset Scaling Simplicity Start Up

Spotting the gap, simplifying the experience, scaling for success

There are gaps all around us in terms of how we live, work and play and where there's a gap, there is a business to be built.

Read more