One simple tip for you to measure the health of your company…

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Transcript of video:

My name is Nick Leighton and for the next few minutes you are exactly where you want to be.

This is originally recorded September 8, 2020 for Facebook Live - uncut and uncensored.

Let’s talk about: Results & Relationships.

This is particularly of relevance for those in a professional service business and more specifically for those that have a business where they have under ‘named’ clients and when your clients are paying for your service month to month… maybe on a retainer… or come back for repeat business.

As a business owner it is normal for us be worried about the health of our business. We’re trying to find the best way that we can offer the best customer service, while maximizing profits - ultimately the most efficient way to do that is to keep our customers happy so they remain customers in the long term and there is reduced turnover.

In this type of situation I have found business owners are worried about their customers expectations and if they are being met. They are worried about service quality and ultimately they’re worried about losing customers - particular customers that have recurring revenue with them.

If this sounds like you - then you are definitely not alone. I want to share with you one very quick tip that will help you overcome that worry and possibly may help you sleep at night.

You need a customer or client health dashboard. When it comes to professional services there are really two things that need to happen to keep clients long-term. The first is that you must be getting results and the second is you must be communicating so you can have a strong relationship with your client.

In an ideal world both your results and your relationship are strong. But there are times when results are not achievable and they may dip down - in which case as long as your relationship is strong then you should be able to maintain that client long-term… so long as you can bring up the results in the short term.

Similarly if the relationship that you have with the client dips slightly but your results are strong - then you probably can maintain that long-term client… so long as you can build that relationship back up.

One supports the other - results and relationships.

Now if you had a dashboard that appeared on your digital technology of choice every day and it showed each client by name and a scale from 0 to 10 how good the results are presently and how good the relationship is presently you have a great insight as to the health of your total company.

Your results are probably going to be quite objective and the feeling of relationship maybe subjective.

Still, if you gave both the score from 0 to 10 and you looked at a clients name and you saw that they were close to 10 - you’re not going to be so worried about them

If you see a client that is high on one score but low on another - then you know exactly where you need to focus.

And if you’re seeing that the majority of your clients are all very healthy then this may give you some leeway to maybe reduce the clients at the bottom of your roster that are less profitable or the ones that don’t give you the passion for your own business. Remember if you own a company you choose who you do business with and it can be very healthy to remove clients to make space for others.

Consider what you could put together - right now - for your business that would help you give visibility to the company’s health. It will be broken down by client and should look at both the results and relationship you hold with them.

Would such a dashboard will give you peace of mind?

What would it feel like to sleep better at night?

Now it’s your turn. What does your dashboard look like and how did you build it?

Post here – I would love to know.

If you found just one nugget of advice or inspiration in this quick video useful, then please do me a small favor - like and share.

Follow this page & join me next Tuesday - when we’ll take another look into Entrepreneurship and business ownership for today’s economy.

My name is Nick Leighton and I wish you passion, profit and happiness.