Choosing Quantity over Quality Clients: Mistakes I Made When Starting My Business, Part 3
We’ve reached the grand finale of my three-part blog series, where I’m exposing the biggest mistakes I’ve made in my entrepreneurial journey.
If you’ve been following along, you’ve already (1) had a good laugh at my corporate arrogance, and (2) commiserated with my shiny object syndrome. Now, brace yourself for the epic conclusion—Mistake #3.
It’s time to uncover the invaluable lesson I learned about quality over quantity. So, grab a cup of coffee and let’s dig in!
Mistake #3: Not Every Client is a Good Fit
Ah, the allure of a paying client.
In the early days, I would eagerly jump on calls, offering my CFO package like a superhero saving the day (can you say, “Rescuer Syndrome”?)
I’d quote the price, describe the services, and bam! I’d seal the deal.
But here’s where I stumbled—when a potential client asked for tweaks or modifications to fit their specific needs, I would agree without hesitation.
After all, I needed the cash, and a paying client seemed like a good client … Right?
…Wrong!
The Downside of an “Accommodating the Clients” Business Model
Little did I realize that by accommodating every request and deviating from my profitable business model, I was putting the client in control of our relationship and jeopardizing other clients.
I allowed their non-standard expectations to take hold, and soon enough, those expectations grew.
So, I found myself trapped in a web of dissatisfaction – theirs and mine.
Believe me, I have made this mistake not once or twice, but at least 15 times over my entrepreneurial journey. Each time, it left both parties unhappy and drained my time, energy, and resources.
Reclaiming Confidence and Value
It was high-time for a wake-up call: I had to acknowledge what I do well, the value I deliver, and the impeccable service we could provide.
It became crystal clear that slipping into the “client knows best” mindset and chasing money was a recipe for failure.
So, instead, I shifted my perspective.
I vowed to bring in clients who align perfectly with our business model, as it is – only those we could serve flawlessly.
And although you may think we achieved this by being more rigid, we actually did it by being more flexible to their needs.
My special sauce is that I know better than the prospective client what they truly need – what it is that will fix their pain point or increase their joy in my subject area. In fact, I’ve built a business of doing that very thing for many clients.
To let someone pull me away from that meant only one thing: I didn’t have the confidence in my process and business model that my results indicated I should have – and that my prospects deserved.
That realization hit me like a ton of bricks one day – and that day changed everything.
The Golden Lesson of Client Selectivity
Here’s the hard-earned lesson, my friends, and repeat it after me—I no longer want to convert every prospect that comes my way.
We want our service to speak for itself and attract our ideal prospects organically.
By focusing on quality over quantity, we ensure that our clients align perfectly with our vision and values, allowing us to deliver exceptional results and maintain a harmonious relationship built on trust and understanding.
And there you have it, folks—the triumphant conclusion of my three-part blog series on the mistakes I made as a new business owner.
We laughed, we cringed, and we learned valuable lessons together.
Remember, it’s not about chasing every client or bending over backward to accommodate every request; it’s about finding those perfect matches, where your services shine and your clients thrive.
Embrace the power of selectivity and let your service sell itself to your ideal prospects.
Just to summarize this blog series about three of the mistakes I’ve made in my entrepreneurial journey, here are the takeaways:
- Ex-corporate types: Don’t be as arrogant as I was and think you will conquer this entrepreneurial learning curve with “what got you there” in Corporate.
- When you buy stuff, buy it because of the relationship you have with whoever owns that product, not because they’ve got flashy marketing.
- Don’t step out of your truth when offering services and pricing. No amount of cash in the door can compensate for setting yourself up for a draining client relationship.
Thank you for joining me on this adventure!
I hope you’ve enjoyed the ride as much as I have.
Together, we’ll conquer the world of entrepreneurship, one lesson at a time.
Author, Virtual CFO, and Finance Coach
“Your First CFO: The Accounting Cure for Small Business Owners” on AMAZON
