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.

 

 

 

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