Sabrina Starling PhD, PCC, BCC

Is Your Overweight Business Crushing You?

To survive the critical first 5 years of business, we business owners typically try all kinds of things to see what works, to create a demand for our products or services and to find clients or customers. Then once we find those customers, we try to serve all kinds of different needs.  We say “yes” to every opportunity that comes our way because we are determined to make a go of our business.

We pile on the products and offerings, always looking for ways to get the cash flowing. While this works to help your business survive the first few critical years, it is not a long-term strategy for thriving. If we continue to operate this way, we end up with an overweight business, and the demands are crushing.

bigbusiness0101_Prov Blog021514We end up with products and offerings that may or may not be profitable. But we’re so busy with all the demand we created, who has time to stop and pay attention to which customers, clients, products and offerings are the most profitable? AY!

Even though revenue is coming in, our businesses become less and less efficient over time. This inefficiency is why a business owner bringing in a million or more in revenue can still struggle to meet payroll, laying awake night after night worrying about cash flow.

If you’re recognizing yourself and your business in this description, it’s time for your business to go on a diet! Shed the extra, unnecessary weight in your business.

Start by identifying the clients or customers who nourish your business, allowing it to flourish and thrive.

  • Who are the clients or customers responsible for the majority of your revenue?
  • Of these, which ones pay on time, are repeat customers, send you referrals, communicate well with you, allow you to correct mistakes (without brow-beating you!) and share Immutable Laws with you? These are your best customers. They are the fruits, vegetables and protein of a healthy diet for your business. Spend more time hanging out with these customers. Get to know their needs. Discover how you can better serve them. You’ll be on your way to a healthier, thriving business very quickly!

At the same time, get clear on the customers who are the sugary doughnuts. They may give you a cash flow rush early on, but over time, they cause you to crash. Too many sugary doughnuts day after day, and you are overweight, sluggish, and headed for a heart attack. Although those “sugary doughnut customers” may represent a rush of cash infusion into your business, they can be high maintenance, with unreasonable demands that suck your precious energy and cash resources. These profit- and energy-suckers are diverting your focus and resources from your best clients or customers.

The first step to growing a healthy, sustainable business is to get crystal clear on who your best customers are, and intentionally put more of your resources toward serving their needs.

Article written by :
Sabrina Starling PhD, PCC, BCC
Dr. Sabrina Starling, The Business Psychologist™ and author of the How to Hire the Best series is the founder of Tap the Potential. Tap the Potential specializes in transforming small businesses into highly profitable, Great Places to Work! Never one to accept status quo or back down from a challenge, Dr. Sabrina’s How to Hire the Best series grew from her desire to solve the toughest hiring challenges interfering with her clients' growth and profitability. What sprang from her experience working with entrepreneurs in rural areas catapulted her into becoming the world's leading expert in attracting top talent in small businesses — no matter what hiring challenges those businesses are facing — and earned Tap the Potential’s reputation as the go-to resource for entrepreneurs committed to creating Great Places to Work with thriving coaching cultures and highly engaged team members working from strengths. With her background in psychology, and years of driving profit in small business, Dr. Starling knows what it takes to find, keep and get exceptional performance out of your biggest investment — your team members. Visit Dr. Sabrina and the Tap the Potential Family at www.TapThePotential.com. While you’re there, be sure to check out all the great resources, including Dr. Sabrina’s most in-demand webinar, How to Make Your Time Worth 10K an Hour.
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3 Responses to Is Your Overweight Business Crushing You?

  1. Donna says:

    Dr. Sabrina, I love the diet analogy. And I’m sure we’ve all got a few “sugary doughnuts” we could cut out!!! It’s hard at first, but you’re right, you will feel so much better afterwards, and you will be more lean and agile as a company, allowing you to grow in the best direction.

  2. Edwin Soler says:

    I like this illustration. Too many entrepreneurs either get hooked on the fast sugar rush (quick money), overeat at the buffets (make too much too fast and cannot hang onto it later) or go on crash diets (slash everything they can to get profitable again). But it’s about a long steady diet and exercise regime. Once a good system is established, the results pay for themselves over time. Great article!

    • Dr. Sabrina says:

      What great words of wisdom, Edwin. Thanks for sharing that! I like your metaphor about overeating at the buffet. You’re right, it’s all about getting a good system in place and sticking with it.

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