Conventional wisdom says, “Treat everybody that comes through
your door equally well!” Fxxk that. You’ve heard of the 80/20 rule,
haven’t you?
It means that 80% of your revenue comes from 20% of your
clients. All customers are not created equal.
Most of the time, the other 80% are dud clients. It doesn’t make
them bad people. It’s just that they’re not the right clients for you. They
might be the perfect clients for somebody else. But for you, they’re simply not a good fit. Dump them. Refer them to somebody else. Send
them away.
Dud clients cost you more money and energy long-term, but
chances are good that you only deal with them because you want their
money. When you do that, your integrity has gone out the window.
You’re actually doing these clients a disservice by keeping them.
You owe it to them and yourself to refer them to someone who can and will do their best work with them.
Why have clients, or anyone for that matter, in your life that frustrate
you, bore you to tears, and drain the life out of you?
Clients are replaceable. Money is replaceable. Time is NOT
replaceable. The seconds you used up reading this paragraph are gone
forever. You can’t get them back. Doesn’t it just make sense to place
a very high value on the mostprecious commodity you possess—your
time?
I am very selective about whom I do
business with. I have a zero tolerance policy:
•If I dread the thought of having lunch
with you, I am not doing business
with you.
•If we have a meeting and you’re late,
you’re not doing business with ME.
•If you’re a negative or toxic person,
I don’t want you in my life. It’s that
simple.
MONEYISM #46
You’ll become effective only by being selective.
Let me give you an example.
A DAY WITH ME—ONE-ON-ONE COACHING
ON MY TERMS
I offer a full-day coaching strategy session, I call it a “Day with ME”
for which successful entrepreneurs fly in to see me from all over the
world.
We lock ourselves in a room from nine a.m. to five p.m., and during
this time we will find the hidden opportunities and profits within their
business.
They can ask as many questions as they want and pick my brain.
Basically for that day, I will treat their business like mine, consult with
them, and give them ideas on how to make a heck of a lot more money.
By the end of the day, they’ll walk away with a step-by-step
blueprint on how to take their business to the next level.
Clients prepay me twenty thousand dollars a day for a “Day with
ME.” Again, this is business on my own terms: they come to me, I
don’t go to them. They fly to my place to see me and I’m paid twenty
thousand dollars BEFORE I do the work, not after.
Most people who have a job work the entire week, two weeks, or a month and then they get a paycheck.
Heck, even most consultants work this way.
They consult, and then they send an invoice. A
lot of times they have to chase the client to get
their money.
I’m a coach. I’m a mentor. I’m NOT a bill
collector. I don’t do that crap. I get paid before I
do the work. And the funny thing is, I do a “Day
with ME” typically once a month, sometimes
twice a month if I feel like it, and I have a three-
to six-month waiting list.
MONEYISM #47
Poor people get paid AFTER they do the work.
Rich people get paid BEFORE they do the work.
your door equally well!” Fxxk that. You’ve heard of the 80/20 rule,
haven’t you?
It means that 80% of your revenue comes from 20% of your
clients. All customers are not created equal.
Most of the time, the other 80% are dud clients. It doesn’t make
them bad people. It’s just that they’re not the right clients for you. They
might be the perfect clients for somebody else. But for you, they’re simply not a good fit. Dump them. Refer them to somebody else. Send
them away.
Dud clients cost you more money and energy long-term, but
chances are good that you only deal with them because you want their
money. When you do that, your integrity has gone out the window.
You’re actually doing these clients a disservice by keeping them.
You owe it to them and yourself to refer them to someone who can and will do their best work with them.
Why have clients, or anyone for that matter, in your life that frustrate
you, bore you to tears, and drain the life out of you?
Clients are replaceable. Money is replaceable. Time is NOT
replaceable. The seconds you used up reading this paragraph are gone
forever. You can’t get them back. Doesn’t it just make sense to place
a very high value on the mostprecious commodity you possess—your
time?
I am very selective about whom I do
business with. I have a zero tolerance policy:
•If I dread the thought of having lunch
with you, I am not doing business
with you.
•If we have a meeting and you’re late,
you’re not doing business with ME.
•If you’re a negative or toxic person,
I don’t want you in my life. It’s that
simple.
MONEYISM #46
You’ll become effective only by being selective.
Let me give you an example.
A DAY WITH ME—ONE-ON-ONE COACHING
ON MY TERMS
I offer a full-day coaching strategy session, I call it a “Day with ME”
for which successful entrepreneurs fly in to see me from all over the
world.
We lock ourselves in a room from nine a.m. to five p.m., and during
this time we will find the hidden opportunities and profits within their
business.
They can ask as many questions as they want and pick my brain.
Basically for that day, I will treat their business like mine, consult with
them, and give them ideas on how to make a heck of a lot more money.
By the end of the day, they’ll walk away with a step-by-step
blueprint on how to take their business to the next level.
Clients prepay me twenty thousand dollars a day for a “Day with
ME.” Again, this is business on my own terms: they come to me, I
don’t go to them. They fly to my place to see me and I’m paid twenty
thousand dollars BEFORE I do the work, not after.
Most people who have a job work the entire week, two weeks, or a month and then they get a paycheck.
Heck, even most consultants work this way.
They consult, and then they send an invoice. A
lot of times they have to chase the client to get
their money.
I’m a coach. I’m a mentor. I’m NOT a bill
collector. I don’t do that crap. I get paid before I
do the work. And the funny thing is, I do a “Day
with ME” typically once a month, sometimes
twice a month if I feel like it, and I have a three-
to six-month waiting list.
MONEYISM #47
Poor people get paid AFTER they do the work.
Rich people get paid BEFORE they do the work.
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