The customer is always right! Well if uch adage is true everyone in labor could get fired easily thanks to some customers, dont you think? If by the books you are self-employed, a certain customer may just not be right for you. When you become your own boss, there is a good amount of stress that you already need to cope with on top of the other challenging responsibilities that go with the CEO title.
Decreasing as much stress as possible should make your business way better in overall terms. When deciding to eliminate the time waster, who indeed takes up a lot of your support time issues – you are likely doing both you and him a favor.
If you deal with wholesale merchandise business and customers on a daily basis, it does not mean you are being rude to them by rejecting their business. You are just setting up your standards, your ideals and the respect for your self-employment status.
If you think it would be bad business to turn up front cash or customer lifetime value, the fact of the matter is- aggravation is just one of the many top of the line negative issues you have to decrease to a heavy extent with troublesome customers.
But you may believe in entrepreneurial options. Be it e-commerce in the wholesale merchandise business, the 80/20 rule of the wildly known Pareto’s Principle, it all applies! Yes, the one that states that 80% of your income comes from 20% of your customers.
Well if the Einstein’s are correct, 80% of your stress shall also come from 20% of your beloved customers. Likely case today if structuring online business correctly, that ratio may be more like 95% of the stress arrives from 5% of your customers. My entrepreneurial tip if you really want to stay with the majority of your new customer’s, whether they are high-maintenance or low-maintenance, outsource your business and developing projects.
By now you may be asking, how in this world can I hire them? Go creative – it’s the 21st century. I personally love how Subway has structured part of their marketing system and expansion mythology with royalty fees and monthly attachment with the franchisee. By 2010, you can expect more Subway’s in our city then gas station country wide here at Puerto Rico! Their methods works, why not do the same with our own budget?
You could hire a professional for your wholesale merchandise business and pay an agent monthly fees, what is the equivalent of royalty fees in the Internet marketing world. Many of us started doing it heavily in some of our businesses a while back, you might as well find creative ways to get a talent in your team for more productive time and more profits!
2008 surely sounds more exciting! You either will retain your customer thanks to a hired professional on your end and pay small monthly fees, $100-$200.00 per month are reasonable these days, or you will end the potential lifetime value from your ready to buy prospects.
It’s all about deciding. Decide in reasonable terms whether you are in the wholesale merchandise fulfillment relations business or you are on your own. Play the game smart and adjust your way to niche stardom, as one of the best bets as you may know is making right decisions!