We’ve compiled a list of the absolute essentials to host your clients that are travelling into town to meet up with you or someone else involved in your business. This will make or break you so prepare to pay attention to the next 4 points we make, and don’t screw them up
- Seek out the best hotel – Finding the best hotels, with the best facilities will really impress your guest. Don’t put them up in the Hilton or Sheraton, go find the best 5 star hotel around and break even on the first month of service. You’ll thank yourself when they email telling you how impressed they were with your business services.
- Hire a really good limousine company – We highly recommend VIP as our service of choice, they operate in Toronto, LA, Miami, Chicago, Vancouver, NYC and several other major cities. Having a seriously proper limousine company will ensure your client is always on time, where they need to be, and taken care of with a 5 star chauffeur
With these two things, you really can’t go wrong. Make sure you don’t screw up these points because they will decide the outcome of whether you get paid or whether you don’t
What else can we do to ensure a happy client?
I’ve intereviewed 10 consulting business owners and compiled a list of the best, most interesting questions when it comes to owning your own consulting practice.
- Do you love what you do? A: Hell yeah, owning a consulting business is fucking great. We all love what we do, we decide what we want to do, we can work from anywhere. It’s truly a dream job, I don’t think about the hours I’m working when I am working and I couldn’t ask for anything better
- Is it stressful? A: Again, hell yes it is. If you lose a few too many important customers in a short amount of time you can really feel like everything is falling around you that’s why we created this blog after all and that’s why you should pay attention on treating your high end clientele properly
- Is it good money? Yea, if you keep all of your clients!
I hope you enjoyed our short and quick questionnaire and if you have any questions let us know in the comment section below
I bet someday you’ll re-read this post when you’ve been made an extremely tempting offer based on a very reasonable & generous multiple for your very own consulting business
Now, why is customer retention important when the time comes that you eventually sell your business?
The amount of customers is what will decide how much you walk away from your business with. You get a multiple for each of your recurring revenue customers you have. That means if you get 10 every year and lose 5, in 3 years you’ll have 15 clients, as opposed to say 27 or even close to 100% retention if you’re the best
Sure, this might be obvious. But when it comes to it, and you can take $10,000,000 instead of $5,000,000 you’ll be thanking me
So that’s it? No it’s not. See, the multiple of buying a business isn’t just about how many customers you have and a multiple it’s all ABOUT your retention. A prospective buyer will look into the retention rate of your business and gauge the growth based off of that. If they see you are incredible at keeping your clients on board they will project volumes higher of earnings when seeing the potential for growth with their value adds
This will make the difference between 7 figures and 8 figures
I want to start by introducing myself, my name is Rob and I decided to start this online blog to help people starting consulting businesses with their client retention. You might be thinking right now, Rob – I just want to get customers before I get ahead of myself and think about how to keep them paying me month after month but there’s more to it than that
Customer retention WILL be what makes or breaks your business. If you don’t plan properly from the start you’re almost ensuring a terrible failure unless you plan to run your business with family & friends as your customers for the rest of your life. Which won’t give you any real insight about your business since they feel obligated to compel you to continue
I hope you enjoy reading some of my posts, and I hope when the time comes whether you’re at the point or not that you really reap the benefits from the information that I shell out here