Your Most Valuable AssetMay 20, 2021
If I asked you what your most valuable asset is, what would you say? Perhaps your production facility (if you own it), your equipment, or maybe your home? Actually, your most valuable asset is your list of trusted clients. These clients have a relationship with you and your team and do not see you as a transaction. These are your top 20% of clients that give you 80% of your revenue.
A list of clients with a trusting relationship with you is far more valuable than any real estate or piece of equipment. They can provide you endless and almost unlimited revenue if you learn how to solve their problems.
Our top 20% of clients, mostly affluent or aspiring to be affluent, have a lot of challenges and often lead challenging and complicated lives. You can simplify a lot of their challenges if you stay focused on their needs and always ask yourself, “what is their next challenge I can solve?”
This idea alone can be overwhelming when you are just trying to survive the day or get the work done. And that is why it is critical you get the daily operations covered by your team members so you can intentionally plan for growth in the future. Your time perspective always determines your level of success.
If you are working on solving today’s challenges, you are not going to achieve much success. But if you can get that covered and work on tomorrow, next week, and next month…. You will be much more successful. That is because you are focused on the future needs of your clients. And always looking for the next service or product that can make their life better.
And when you decide to exit or transition out of your business, a prospective buyer will put a lot of weight into your list of trusted clients and the business's cash flow. That is why you must systemize getting as much of your client's data as possible – including their full name, address, email, and cell phone. Please reach out if I can help you build your most valuable asset – your list.
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