Episode A3.007 Who are your most and least profitable customers?

IBGR - RESULTS Radio Network. Everything a business owner needs to start, grow or exit a business. Come grow with us.

Introduction
“I need more clients” “I need better quality clients” “I want clients who understand my value” “I lost another prospect due to price” “Why do prospects keep ghosting or abandoning their carts?”

​Does this sound familiar? 🤔

Have you tried EVERYTHING and NOTHING works?
-Ads
-Emails
-Constant social media
-Networking

Have you paid for books, webinars, systems, and courses all “designed to help you grow” that are now piling up collecting dust?
It’s enough to tear one's hair out! 🤬

Show Objectives

• What if I told you, the SECRET to “cracking the client code” is in your Accounting System?
• What if I showed you exactly how to find your ideal client and then multiply that client as many times as you want?
• What if you knew you could charge ANY price you wanted, with no ghosting, no push back, and very very happy customers?
• How would that change your business?
• How would that change your family?
• How would that change your life?
• Join me on Monday August 24th to find out exactly that!
  

Key Issues

1. The Problem- when you cast your net that wide- is you inevitably catch something you don’t want to catch.- Edward Felten
2. A paying client is not the same as a PROFITABLE client.
3. Simple three step process - using your accounting system - to finding the diamonds in your client list. 

What You Need to Do

1. Sales by Customer report from your accountant ( or system ) 
2. Set up a rating system for your clients
3. Review quarterly or annually and adjust as needed. 

Helpful articles:

1. https://corporatefinanceinstitute.com/resources/knowledge/accounting/customer-profitability-analysis/
2. https://strategiccfo.com/identifying-profitable-customers/
3. https://bizfluent.com/how-10029169-calculate-customer-equity.html

Shows
Previous: Episode A3.006 What are your most and least profitable products and services?  

Next: Episode A3.008 Building the total financial picture of the business

Written by Kasfia Rashid
“Money Matters with Kash the Bookkeeper”


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