Why You Should Cherish ‘Bread and Butter’ Clients

Why You Should Cherish 'Bread and Butter' Clients

When we first open a business, keeping up appearances is easy – showing gratitude and appreciation for clients who get us off to a great start requires no effort at all, and is pretty genuine. But when we begin to grow, we can lose sight of what or who is really important, and taking that for granted can hinder our business from propelling toward success.

Such is the case with Andrew, who wrote to entrepreneur Steve Strauss (founder of The Self Employed) asking why big companies tend to forget how loyal you’ve been when they make it big, and even go as far as to no longer acknowledge you, and in turn lose your business. Steve offers sound advice when he explains even he doesn’t understand, but it’s absolutely wrong to do so.

Here are 7 important takeaways from this Q+A:

1. Some entrepreneurs forget where they [come] from, and that can be a huge mistake.

2. Good and loyal customers are gold.

3. Taking your best customers for granted is business malpractice.

4. [Always remember the] 80-20 Rule: 20% of your customers create 80% of your income, buzz, etc.

5. What is important is that you not forget who got you to where you are, and that your best, most loyal customers know that you appreciate their allegiance [because] they are the ones who keep you in business.

6. Sam Walton got it right: “There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”

7. Gandhi also got it right: “A customer is the most important visitor on our premises.”

Source: USA TODAY

About

The Payze blog brings you world financial news and company updates from our leading e-commerce platform, along with tips, tricks and strategies for your business and personal finances.