“Something’s changed and I don’t like it.” Josie was clearly upset.
“What’s up?”
“I’ve been contacting my clients just like you said, but they haven’t been booking follow up appointments with me the way they used to. I don’t know what I am doing differently.”
“I noticed you didn’t buy that tech you talked about last time.” Josie wasn’t sure what I was getting to, but knew that I was making a point.
“Well, no, I’m feeling a little uncertain right now and decided to hold off for a while.”
“Your clients are feeling the same way.” I replied. “When the economy is good and things are rolling, your clients are focused on growth and making their business work better for them.”
I continued,”Any time you are faced with a challenge and you aren’t sure what to do, go back to your fundamentals: why did you start this business? What are your values? What is important to you? What are your strengths?”
Josie thought for a few minutes and slowed her breathing. I could see the worry leave her face as she settled into the process. She knew she would find her answer.
“I started because I saw the devastation that can come from a failed business. My brother bought into the tech biz hype and when his business didn’t work out, he was left on the hook for $100,000s. There are things he could have done to not be in that position and so I want to help as many small business owners as I can to mitigate their risks..”
“My values are teaching, compassion and commitment. My strengths are helpful, accurate, compassionate, observant and patient.”
“Right,” I said,” You and your clients are feeling more cautious. Sounds like it’s right up your alley. What can you do for your clients to make them feel better and be fiscally safer in this climate?”
“I could offer all my clients a 15 minute financial risk assessment. At the end I will let them know they can share one of these assessments with a business owner buddy. Thank you, I will let you know how it goes.”
Josie did it and her client retention rate improved. Clients leave most often because they feel unappreciated and this kind of support told them she was thinking about where they were and how she could help them. Even better, she got more clients. I always tell my business owners that the best way to increase sales is to delight your current clients.
When you are faced with a challenge, stop, relax and go back to your fundamentals: why did you start this business? What are your values? What is important to you? What are your strengths?
Your answer lies there.
