Why Turning Business Away Can Be A Good Thing
Amy Andersson, CPA, CGMA, MBA
CEO Price Turner CFOs, Managing Director at Nimble Leader
When you have a company, there are three things that happen. Your revenue goes up, it goes down or it stays the same. And that is a result of planning or perhaps something unexpected.
Growing a business doesn’t always mean financially. It could be hiring team members, growing in your processes, expanding locations, etc.?
Earlier this year, we spoke about pricing and taking a review of your current cost structures. Now, what about increasing your volume??
If you sell a product, you just sell more. Easy, right? But is the operational side set up to take that on? Will your team have to take on more responsibilities and work more hours or are your processes so streamlined that you can sell more without everyone working harder??
Turning ideas away when you aren’t ready yet is something you have to be ready to do. Instead, get into the action of getting closer to that goal and implement when you ARE ready.
Are you selling to/working with the right clients? What is your target market? Have you defined it lately??
Any company in operation was my target market when I first started my CFO business. I wanted to help them all! Some, I didn’t price properly because I allowed scope increase (sound familiar?)
Now, I run things much differently. I prefer to work with high-level companies dealing with complex financials. I work with companies that I know fit in with the skill sets of my team and use systems that we feel are the most efficient.?
If a company is not a good fit for me, I happily refer them to colleagues in my network. Do you have that set up in your business??
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Be confident in what you provide to your clients and stay true to your values. If a company does not align ethically or morally with what you do, it’s not the client for you.?
Use your expertise and fulfill your passions. You are running a business because you love what you do. If you stop loving it, everything becomes a lot harder.?
Where’s Amy?
May 31 - Main Line Chamber of Commerce Connect Group
May 31 - Upper Main Line Rotary Club - Board of Directors and Happy Hour
June 1 - Main Line Chamber of Commerce - Ambassador Meeting
June 15 - Beacon Professional Services - Business Exit Strategies
Entrepreneur | Visual Marketing Professional | Communicator By Design
1 年Great post Amy! We all need reminders to hold strong to our values and mission — and define, find, and prioritize our “ideal client” (or customer). I myself need to work on building that network of refer-ees. For when a client is fine and good, just not right for me.