New Business: The Lifeblood of Any Business
Last Updated on January 19th, 2020
A business’s bottom-line success is determined by three things: procuring new business, encouraging repeat business and securing referral business. Yes, a quality product and outstanding service are essential. But many businesses with top-notch products and first-class service close their doors because they fudge their NRR approach; that is, they fail to get new business, repeat business and referral business
And here’s the kicker. A new client who enjoys a highly satisfied experience is more likely to return for a second helping and to actively broadcast their giddy elation to others. Simple, I know. Who would have thought, happy clients = more clients. Yet don’t miss the point: the lifeblood of any business lies in its new clients. In fact, the formula is more accurately stated as such: new happy clients = more clients.
So, how do we procure new business? There are only so many ways to skin a cat.