Know Your Client’s Value … and Yours

Credit: Bill Gillespie

Do you know and appreciate your value? Do you spend your time where it pays you best? Do you know what your client or prospect is worth?

Years ago I was doing business with a southern bank. They represented $1.5 million to me annually. Year in and year out they sent work my way. It was unusual for a day to pass without a purchase order.

They got themselves purchased. Headquarters moved from Atlanta to Charlotte. Some of my friends made the move. Some didn’t. Everything about it was new.

I made the trip to Charlotte. I met the team. I did what I could to get my arms around the new lay of the land.

The people I met liked what I had to share. My reputation was solid and the work spoke for itself. My friends that made the move plugged me too.

My volume dropped. Promises notwithstanding, the acquiring bank already had suppliers in place. My numbers took a hit and I found it easy to skip driving to Charlotte.

Two of the bank team leaders came to Atlanta. They wanted to see my plant and a competitor across town. A print partner in Atlanta did offer some logistical value.

Over dinner the ladies explained that they were buying more than 1 million in print each month. There was lots of work. I couldn’t count on being part of it, however, if I wasn’t prepared to visit.

I started to defend myself and explain that I owed it to my company to be where I could make sales happen. The head lady cut me off and said, “Bill Gillespie, you’re not about to tell me that the only way you’ll come to Charlotte is if I promise to give you more business. You aren’t going to say that are you?”

I dropped my head and responded, “well, I was but it doesn’t sound so good when I hear you say it.”

We laughed. I conceded that she was right and promised to visit more often. My volume did grow but it never got back to what I had enjoyed previously.

Fast Forward: I replaced the bank. I did the math. I knew that I could make the hours I was committing to the bank pay better around town. If I spent the available hours smiling and dialing, I could replace the $1.5 million and much more.

The exercise (doing the math) was validating and liberating. I looked at numbers that told me what an hour of my time was worth. I could spend those hours earning purchase orders. I owed that to myself, my family and my coworkers. I deserved to go where I could make each hour pay best.

Now I’m not suggesting that any rep be reckless with clients. If you follow me you know that I think every opportunity deserves profiling. How much work is there and where does it hide? That information is crucial to good decision making. It’s valuable.

But…so is your time. You’re selling your life for dollars. Make your time pay. Pick opportunities that make you happy and appreciate your value.

I missed my friends at the bank but my sales more than doubled. I made a good decision. I’m confident they did too.