Client Post-Acquisition Management

Entrepreneurs and their marketing/sales teams spend a lot of time signing up new clients. Sophisticated companies have a well thought out plan and process for reaching new clients.

But what happens after the clients have been acquired, other than providing them products or services?

Do you have a post-acquisition process to manage these clients into your systems and organization? Obtaining a client is merely the first step.

Just as a new employee goes through an orientation process to rapidly onboard him/her in the company, a client has to be similarly managed into the organization. A well-defined process to onboard new clients is critical in obtaining continued business. The first impression a client forms has to be positive and outstanding; that can only happen if there is an active program to orient the client as to how you do business. The easier you transition new clients into your company and make them feel comfortable, the more likely is their satisfaction.

Just as you properly focus on obtaining new clients, have a similar dedication for post-acquisition management of  new clients. Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Ability versus Dependability

What is more important for an Entrepreneur to seek in his employees – ability or dependability? What should be more important?

Well skilled employees provide abilities for a growing organization to build the competencies in various functional areas. An Entrepreneur does not have time to train people, thus employees with ready skills are an asset. However, there is no assurance that employees with abilities are always reliable or dependable.

An Entrepreneur needs to be able to rely on his employees to do their assigned tasks without  constant supervision, absences, tardiness, and so on. Dependable employees, despite some known weaknesses, offer the Entrepreneur a comfort level that he/she can rely upon.

It would be ideal to have all employees possess high skills and also be reliable. In the absence of such, an Entrepreneur has to build a workforce that optimally blends a pool of employees with ability and dependability.

If such an optimal situation cannot be created, whom would you rather have – able or dependable employees?

Ravi Patel

www.patelCFOservices.com

 

 

Is Losing a Bad Thing?

Many sports coaches have considered winning to be the only thing that matters. But, is losing always a bad thing?

If you always lose because you are not good at something or you have not done enough to prepare yourself to win, then losing has no redeeming qualities. However, if you are in top shape, are always practicing and improving, losing to a slightly better competitor is not necessarily all that bad.

Losing can lead to winning if you learn the lessons from your loss. What did the winner do differently? What could you have done better? Where did you feel you needed more effort or skill? If you can answer these type of questions, then they could be winning lessons.

Entrepreneurs can also learn the same winning lessons from losses or failures. If you learn from losses and make changes to improve your business and grow stronger, it is in fact quite positive.

Losing is not a bad thing if you learn some winning lessons from it.

Ravi Patel

www.patelCFOservices.com

Published in: on February 6, 2012 at 5:50 am  Leave a Comment  
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