Balancing the demands of your current clientele and finding new opportunities can be tough for business owners. As the leader of your business, it’s just one of your many responsibilities to ensure business growth.
It’s very easy to get caught up in the daily grind of managing the business - including the demands of your existing clientele. For some, attending to the current clients should be the priority because they bring revenue to the business. But as a business leader, you know that business growth happens when you add new clients to the mix.
The question is, how do you strike a balance to ensure your current client relationships are nurtured and strengthened while maintaining a steady pipeline of potential clients?
In this article, I’ll share with you strategies that I teach business leaders to help them balance existing client work and prospecting. You’ll learn why prospecting is important and how planning, automation, delegation and discipline play an important role in getting your prospecting efforts on track. I’ll help you master this so you can unlock sustainable growth in your business.
It’s easy to get lost in the endless demands of your current clients. And to be honest, most business leaders feel that this should be prioritised because these clients make the business profitable. Not to mention the fact that prospecting isn’t appealing at all. There’s a chance of rejection and nobody would want to have that on their plate. So it’s not surprising for prospecting to be put aside and delayed.
The thing is, prospecting is just as important as strengthening your relationship with your clients. As mentioned, it’s critical to the growth of the business because it increases your revenue potential.
If you can’t balance client work and prospecting, your business will be at risk of hitting a revenue plateau. It’s also possible to become overly reliant on a few clients - which could compromise your business stability in case one of them decides to churn.
By being proactive with prospecting, you’re setting up a foundation for healthy business growth. Getting a steady stream of new clients would ensure that you can replace lost business and expand your services. It can also reveal new market opportunities that will lead to long-term growth and success.
So if you have an advisory firm, for instance, your success relies on getting repeat business and establishing a long-term relationship with your clientele. But what happens if you lose one of them because of an unexpected downturn or maybe a decision to switch firms? No matter how steady your firm is, it’ll feel the blow of lost revenue. If you practice proactive prospecting, you can sustain your business despite the losses because you have a pipeline of future clients. This creates resilience and confidence within the business.
Proactive prospecting is easier to implement if you integrate it into your daily or weekly schedule. Use your calendar to maximise your prospecting efforts.
I’ve used my calendar to ensure that prospecting never gets pushed aside and it has been very effective in helping me grow my business into a nationally recognised brand. I see the results so I’m very confident in sharing my time-blocking technique with my clients. And I’ve seen it do wonders for their overall productivity - not just prospecting.
The concept of using calendars is simple. If you think it's important, you put it in your calendar. By reserving specific time blocks, you can prepare your mind for the task and you won’t get derailed as you do it. You won’t make excuses to delay the task. You’ll be clear about what has to be done within that time block and it won’t be pushed down your to-do list and eventually forgotten.
Use a calendar app that can sync your schedule. This will allow you to track how much time you’ve spent prospecting so you can adjust it based on the results. If you’re not getting more clients, you can dedicate more time to it. This also helps you align prospecting with the client work that you have to do every day.
In case your scheduled prospecting bears fruit, what happens next? Set up a system to nurture leads. This is crucial to convert leads into paying clients.
Fortunately, it’s easy to automate lead nurturing. There are CRM (customer relationship management) systems and apps like Salesforce or Hubspot you can use to set up email sequences to follow up leads. You can even segregate your leads so they get a personalised email sequence. For instance, they sign up on your website or download a whitepaper. Depending on the information provided, you can send them an email sequence that fits their demographic. This way, your efforts won’t feel automated.
Send reminders and provide more information so they can decide on your offer. Depending on how they react to your email sequence, you can trigger communication channels to ensure that potential clients are engaged and not forgotten. The goal is to guide them through the next steps of their buying journey. This automation minimises the chance of leads slipping through the cracks.
Since you don’t need to manually reach out unless you have to, you can focus your time on other tasks. You can keep prospecting and delivering exceptional service to current clients.
Apart from automating lead nurturing, you should also empower your team so they’re ready to take care of potential clients. As your business grows, you’ll need to get more prospects while satisfying existing clients. There will come a time when you can’t do all these by yourself. Automation is great but nothing beats the human touch. Train and empower your team so they can assist with lead generation and qualifying prospects.
They can take care of monitoring the email sequences and doing the follow-up calls if necessary. They can nurture the leads so you only have to step in once it’s time to close deals.
When you empower and delegate tasks to your team, you’re giving them room to grow. You’re putting them in charge of an important part of the business. This will force them to step up and improve themselves. By providing them with the training and resources to do the job, you’re acknowledging their potential. It’ll make your team feel engaged and valued in the company.
This won’t just improve your team and make them grow. It’ll also ease the burden on you so you can focus on other high-impact activities in the business. This will open doors for you to assign other essential tasks so they can run the business even in your absence. It’s one step closer to having a scalable and self-sustaining business.
Balancing client work with prospecting requires discipline because let’s face it, prospecting is hard. It’s tough reaching out to people who may end up rejecting you. Not only that, there’s always this pressing need to satisfy your current clients so they don’t leave.
But since prospecting is a necessary part of business, you need to adopt a systematic approach to discipline yourself to do it. I use a prospecting process that allows me to stay on track and ensure that I don’t take it for granted.
This prospecting routine is a non-negotiable system that I share with my clients so it’s easier to stay disciplined in their prospecting efforts. This can involve setting a specific number of calls every day, answering emails, attending networking events or creating content to attract leads. Even if it’s as simple as following a prospecting schedule, it ensures that your pipeline remains full no matter how busy you get.
The goal is to keep prospecting a consistent part of your business no matter how demanding your other responsibilities are.
Are you ready to start balancing client work and prospecting? Let’s get to work on creating a prospecting routine for you. Book a complimentary 15-minute call here: https://www.butleradvisory.com.au/time-with-trent.
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