Keys to Successful Businesses Brooklyn NY

Salespeople typically rate their customers by at least four crucial factors: profitability, stability, vulnerability and potential for future business. Let’s look more closely at how you rate clients on each of those factors.

Balcolm Consulting Svc
(718) 826-0200
496 Flatbush Ave
Brooklyn, NY

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Business Option
(347) 413-7217
1125 Nostrand Ave Ste A
Brooklyn, NY

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Seven Avenue Management Corporation
(718) 768-1200
417 7TH Ave
Brooklyn, NY

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Patwell Consultants
(718) 210-3631
155 Water Street
Brooklyn, NY

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Eichlers.com - Online Judaica Store
(718) 258-7643
1405 Coney Island Ave
Brooklyn, NY

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P D's Management
(718) 778-6770
409 Lefferts Ave
Brooklyn, NY

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Bacon Consulting
(718) 484-2482
467 Saint Marks Ave
Brooklyn, NY

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PBN Consulting, LLC
(718) 703-1425
271 Parkside Ave
Brooklyn, NY
 
Hasenfeld & Klein
(646) 436-3320
1525 55 street
Brooklyn, NY
 
Myrtle Avenue Revitalization
(718) 230-1689
472 Myrtle Ave
Brooklyn, NY

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Keys to Successful Businesses

Salespeople typically rate their customers by at least four crucial factors: profitability, stability, vulnerability and potential for future business. Let’s look more closely at how you rate clients on each of those factors:

  • Profitability. This is by far the most critical factor because it ultimately determines the profitability of your business. To be really useful, this criterion needs to give you feedback on exactly how profitable a particular client is on a monthly, weekly or even a daily basis. You need to be able to determine if any project you are working on for any of your clients is profitable. That’s why it’s so vital to know your overhead costs.

You need to know which clients are most profitable, which clients are least profitable and which clients you are losing money on. For example, an A-rated client would be very profitable; a B-rated client would be about average, a C client would be below average, and a D client is currently unprofitable.

The challenge would be to upgrade the Cs and Ds to become Bs and As. That can be done by either improving your efficiency in serving them, or by charging them more money or a combination of those factors. If you can’t do one of those three things, it’s best to try to cultivate new clients to replace them. But don’t be too hasty...

  • Stability. A steady client who is slightly below average might be more valuable than a one-shot client that is rated B, or even A in immediate profitability. For example, I’ve had some clients for more than 20 years. Those are bread-and-butter accounts who help you meet basic expenses and smooth out the times when business is slow. So it’s a good idea to consider just how stable each of your clients is. Obviously, clients who are rated A or B on your stability scale would be more valuable than those that are rated C or D.

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