Descriptions:
What percentage of your business is coming from your top two customers?
I am Lavanya Udayakumar, a sales coach.
If one to two customers are billing you 40% of your annual turnover, then you might receive a call one day. Your customer might say, “We are consolidating vendors as per the new vendor policy.”
In the next 30 days, your revenue drops by 40% and your salaries and rent will stay. You will become desperate, reaching out to new customers, and that is when your pricing will be discounted. You will work twice as hard for a lower margin.
However, there is a fix for that.
Build a pipeline that brings in new customers consistently into your business through a systematic outreach process. Dedicate at least 20% of your time weekly to bringing in new customers.
Track your bills monthly. If any customer bill goes above 35%, then that is a red flag.
Never be dependent on a few customers. Create your diversified customer base.
If you are struggling to create one, then get in touch.
For More Details: +919790133998
#salescoaching #businessgrowth #salespipeline #leadgeneration #entrepreneurtips #smallbusinessstrategy
