Does Your Business Need to go on a Diet?

Surviving the critical first 5 years in business often means trying all kinds of things to see what works, to create a demand for our products or services and to find paying customers. Then once we find those customers, we try to serve all kinds of different needs. We say “yes” to every opportunity that comes our way because we feel pressured to get revenue flowing. While this works to help your business survive the first few critical years, it is not a long-term strategy for thriving. If we continue to operate this way, our businesses become overweight, and the demands are crushing.We end up with products and offerings that may or may not be profitable. But we’re so busy with all the demand we created, who has time to stop and pay attention to which customers, clients, products and offerings are the most profitable? AY!

Even though revenue is coming in, our businesses become less and less efficient over time. This inefficiency is why a business owner bringing in a million or more in revenue can still struggle to meet payroll, laying awake night after night worrying about cash flow.

If you’re recognizing yourself and your business in this description, it’s time for your business to go on a diet! Shed the extra, unnecessary weight in your business.

Start by identifying the clients or customers who nourish your business.

  • Who are the clients or customers responsible for the majority of your revenue?
  • Of these, which ones pay on time, are repeat customers, send you referrals, communicate well with you, allow you to correct mistakes (without brow-beating you!) and share Immutable Laws with you? These are your best customers. They are the fruits, vegetables and protein of a healthy diet for your business. Spend more time hanging out with these customers. Get to know their needs. Discover how you can better serve them. You’ll be on your way to a healthier, thriving business very quickly!

At the same time, get clear on the customers who are the sugary doughnuts. They may give you a cash flow rush early on, but over time, they cause you to crash. Too many sugary doughnuts day after day, and you are overweight, sluggish, and headed for a heart attack. Although those “sugary doughnut customers” may represent a rush of cash infusion into your business, they can be high maintenance, with unreasonable demands that suck your precious energy and cash resources. These profit- and energy-suckers are diverting your focus and resources from your best clients or customers.

The first step to growing a healthy, sustainable business is to get crystal clear on who your best customers are, and intentionally put more of your resources toward serving their needs, while cutting expenses that do not directly relate to how you serve your best customers.

About The Author

Dr. Sabrina Starling, The Business Psychologist and international best-selling author of the How to Hire the Best series and The 4 Week Vacation™, is the founder of Tap the Potential and host of the Profit by Design podcast. At Tap the Potential, we work to free business owners from the constant demands of a growing business.

We believe work supports life, not the other way around. Clients in our Better Business, Better Life coaching program have more time for what matters most and more money in their bank account than they’ve ever had. Next, we send them off on a 4 Week Vacation™ to celebrate their hard-earned journey to take their life back!

Dr. Sabrina and her team at Tap the Potential are on a mission to change the story of entrepreneurship from one of long hours, grinding it out, to one of sustainably profitable businesses that support and enhance life. The Tap the Potential Solution™ and our Tap the Potential Family of Business Owners are disrupting small business as usual. We are on our way to making the Tap the Potential Solution™ the mainstream model for growing business.

By 2023, 150 Tap the Potential clients will have taken 4 Week Vacations. These are the trailblazers, role modeling what’s possible for entrepreneurs. In many entrepreneurial circles, it is becoming more and more common for one entrepreneur to ask another, “Have you taken a 4 Week Vacation™?” (as opposed to asking “How many employees do you have?” or “What is your annual revenue?”). Taking a fully unplugged 4 Week Vacation is rapidly becoming the recognized symbol of entrepreneurial success.

Never one to accept the status quo or back down from a challenge, Dr. Sabrina’s How to Hire the Best series grew from her desire to solve the toughest hiring challenges interfering with her clients’ growth and profitability. What sprang from her experience working with entrepreneurs in rural areas catapulted her into becoming the world’s leading expert in attracting top talent in small businesses—no matter what hiring challenges those businesses are facing—and earned Tap the Potential’s reputation as the go-to resource for entrepreneurs committed to creating Great Places to Work with thriving coaching cultures and highly engaged team members working from strengths.

As The Business Psychologist, and with her years of driving profit in small businesses, Dr. Sabrina knows what it takes to find, keep, and motivate exceptional performance out of your biggest investment—team members.