When starting a business, it is important to understand this concept. It’s not always about getting the most money you can out of a person one time. It’s about seeing the lifetime value of that client. Why do you think phone companies basically give phones away when you sign up for a contract? It’s because they know that over the next 3 years you will spend thousands of dollars with them. They are willing to take the initial hit, because they know the future payoff. As business owners, we need to get back to seeing lifetime value of consumers. This helps us to build better and more profitable relationships.
[nzs_heading heading=”4″] Give a deal to gain a client [/nzs_heading] Don’t be afraid to give first time clients deals. If you give them a great price as well as great work, you will see them come back to you time and time again. Over the years that they work with you, the first $200 they didn’t pay, will seem very insignificant. Sustainable growth will be more profitable and valuable to your company.