My USD4,704.36 Loss | Desperation has Made Things Worst
My mind is not in the right place. I used to have a philosophy that I will only accept customers that are profitable and deemed loyal. With these customers, I know I can work with them in the long run. It allows me to build up the customer service and win more customers through referrals.
I have rejected customers who are not loyal or only shop around for prices. There is another type who are loyal but not profitable. Lately, I find myself entertaining more of such customers. I am desperate for sales. Winning sales regardless of customer type give me a sense of win, in the long run it is a slow death. The cost of maintaining and servicing such customers are the same as other good customers but the formers have little or no profit margin.
My action of accepting lousy customers is taking away my commitments to customers who are both profitable and loyal. If I maintain the current trajectory, my good customers will leave and causing damage to my brand. The less loyal customers too will leave when someone else offer a cheaper price. This is a death spiral that I have to stop.
I am very clear with the type of client that I want, and I do my best to keep them. My recent desperation has made me go against my own principals. It is desperate time, but I must not give up what made my business successful from the start.