Mon 30 Jun 2008
When to Say No to New Business
When you are new to your business, you could have a tough time getting new and continued business. In your desperation, you might also cater to clients that you would not normally do business with.
Here are some cases where you should say no to new business.
When Clients Don’t Respect You
There are clients that will be very rude to you - who may think that by giving you business, they own you or that you are obligated to them.
You should avoid this type of client at all costs. You have every right to expect that your clients give you the same respect that you give to them.
Clients Who Value Only Money
There are always customers who will be desperate to make sure that they get the lowest price possible at your expense. They will regularly deduct some amount from your payments for frivolous reasons, and threaten to go to your competition.
Drop customers like these like a hot brick. They will end up costing your more money in the long run.
The Time Bandits
There may be some clients who remain confused, even after you have spent hours trying to explain a particular product or service to them.
Such clients will only end up wasting your time, and in the end might go to your competitor to purchase the product. Spend only a limited time with people like these - you may have to ignore them if they are still confused.
Clients Who Expect Freebies
There are some clients who will expect to pay only once - and then expect all future services to be free.
They will not pay you for any extra effort that you make. Customers like this should tactfully be avoided, since it will only result in a waste of your time and effort.
Turning down new business may be hard; but in some cases it is necessary to ensure that your business is profitable.