As we dive into fourth quarter, life starts to pick up the pace from lazy summer days to hectic school and work days. Traffic is heavier, vacations are over and the hustle and bustle of the holidays starts to take shape. Before you realize, it’s a new year (with new budgets!). Avoid being caught come January 2nd and make a plan now to set yourself up for success in the coming year. As Benjamin Franklin so famously stated, “If You Fail to Plan, You Plan to Fail.” There is so much truth to this statement.
Many are familiar with the Pareto Principal, which states that 80% of your business typically comes from 20% of your customers. Many times we don’t realize what a large contribution those top 20% of your client base actually contribute to your personal revenue. As these clients start seriously thinking about next year, take time to strategize and create a plan so you can be proactive to develop and grow your top prospects and clients.
Here are some ways to help you prepare for a successful 2018:
- Take time to look at your client list and determine the top 20% of clients that make up 80% of your personal revenue.
- Make sure you understand the needs and challenges of these key clients as they go into next year. They may be different than the year before. Be sure to have a conversation with your clients to learn if needs have are changing or evolving as they look to next year.
- Have a pulse on who all of the Decision Makers and Decision Influencers might be. Has anyone new been added to this process? Do you understand all of their roles? Do you have access to each of these people?
- Think about the value and benefits you bring to the table. What are some helping forces that will lead to success? What are some hindering forces that might impact your ability to do business with these clients?
- Determine your 3 most important objectives/goals for these accounts in the coming year.
- Take Action! Create a list of the 5 smartest actions you can take, starting now to grow these top accounts.
By developing a plan now, you will help to solidify your relationship with each one of your top clients and hopefully uncover new business opportunities in the process!