Overreaching your company's capabilities can jeopardize your control over operations and compromise quality. While growth is always a key goal, having a strategic plan to manage it effectively is crucial. Your clients expect excellent customer service and high-quality products or services, and they do not understand or care about the efforts behind these deliverables.

Signs that your company may be overreaching include:

• Unmet client needs.

• Low employee morale and upset clients.

• Need for emergency measures to save accounts.

• Current clients experience suffering due to the pursuit of new business.

• Falling profits.

• Clients leaving and resources being reallocated.

The Mock Fish Plan can help you navigate these challenges, increase sales, improve your offerings, and fulfill your promises to clients. It involves:

• Mobilizing your best team to address the client's needs.

• Reviewing and improving your operational systems.

• Anticipating future challenges.

• Improving communication.

• Include costs in your quotes.

• Always have a contingency plan.

1. Putting All Your Eggs in One Basket

Overreliance on a single client can be detrimental. All businesses experience slow periods, and to mitigate this, it's critical to diversify your client base. Moreover, mismanagement of a major client could discourage potential clients.

To achieve a balanced and resilient business, consider the following:

• Stay updated on developments within your client's company.

• Continuously innovate to remain competitive in your industry.

• Maintain exclusivity in your agreements.

• Secure multi-year commitments and contracts.

• Spread out your contracts to ensure continuity of business.

• Ensure your products/services are priced correctly.

Another crucial aspect is reducing dependency on any single client. This is usually reflected in sales or profits, and it's beneficial to review the strategies we've discussed so far for acquiring more clients.

Avoiding these deal-breaking mistakes can help safeguard your business. If you need assistance with implementing these strategies, our FREE consultation provides the support you need.

In our final installment of this series, we'll discuss the fifth major mistake that can impact your relationship with a 'big fish' client. Stay tuned!