Growing a service business

No matter your industry you are no doubt constantly focused on serving your existing clients with an eye toward new business. While some say that the day to day of maintaining and growing a business  is a balancing act of duties between the two, I would argue that one is much more important; yet, both are intrinsically linked.

Whether you focus on multi-family and turnaround or Receivership work like Dover Realty Advisors or any service business, I feel strongly that the key to long-term success is, first and foremost, doing an outstanding job for the client and customers that you already have.

It is a simple strategy, really: You worked hard to attract a particular client. You should work even harder to build and maintain a level of trust based on honesty, transparency and superior service. Do that enough times and with enough people and, suddenly, you’ve built not only a strong client and referral base but also a solid reputation.

In turn, that reputation and foundation of satisfied customers, referral sources and business partners builds referrals and new business.  Word always gets around when there is a “good thing” out there.

So, don’t get bogged down or distracted with worrying about where that next big client is going to come from. Fear is always unproductive.  Instead, stay focused on and dedicated to the customers that you have.  Treat them well and others will follow.

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