Attracting new clients and developing existing ones are essential for both survival and growth. A few guidelines that can help a small business become a big business are:

• Provide incentives such as bonuses or prizes for all employees to bring in new business, whether it's developing existing clients or attracting new clients. Be sure to recognize achievements by letting other employees know that you are proud of the effort.
  
• Constantly seek new business that will expand your base. Owner-managers may fear they have insufficient resources to take on new business. Many times, increased productivity requirements can be met with the short term effort of current employees or the addition of another shift.
  
• Take on small clients. If the client can pay the bill, you can make a profit. Maintain the client. Small clients not only give referrals but they often grow to be big clients.
  
• Provide quality service to all clients...regardless of their size. When your company has done everything within its ability to satisfy a disgruntled client and the client is still unhappy, part company with the client. It's better to spend 99% of your resources on maintaining good relationships with 99% of your clients than 25% of your resources on 1% of your client base.
  
• In negotiations or disagreements about service, billings or staff, do not become involved in personal attacks. Past customers will respect your difference of opinion on almost all issues except ones that attack either them or their business.
  
• Negotiate fair terms, bill reasonably, collect on normal business terms, accept that not all payments will be on time, and be consistent as well as persistent in your collection practices.
  
• Maintain the confidence of all customers or clients. Instruct all staff, from the accounting department to sales, that the confidentiality of clients and their businesses must always be respected.
  
• Never take a customer for granted.
  
• Always refer to the competition or former suppliers respectfully. Compare their product/service and prices with yours and sell your product/service on its merits.
  
• Constantly meet with your customers over the telephone or in person to ensure that your business is providing the service/product that meets their requirements. Take an active interest in their businesses.
  
• Let your customers know that you are always looking for new customers/clients.
• Tell them that referrals are always appreciated. And when a referral is made, don't forget to follow up with a simple thank you.
  
• Refer new contacts or existing customers that you cannot help to companies that can meet their needs. Ask the referral to mention your name.
  
• Look internally for ways of satisfying your clients with good products and quality service. Constantly talk to assembly line workers, your accounting departments, sales staff, delivery staff, receptionist and the like. They deal with your customers and know what they need.
  
• Encourage all members of your organization to use the company's products/services. Exposure in the market place always enhances a company's product/service.
  
• Recognize the abilities and limitations of your organization. When necessary, use the services of a specialist to help your clients be successful rather than attempt work that is beyond your company's scope.

The above provides general information only. It should not be regarded or relied upon as accounting or taxation advice or opinions. Logan Katz LLP Chartered Accountants would be pleased to provide more information or specific advice on matters of interest to you.  
 

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