3 Key Tips That Could Save You Money and Generate More Business!
I have to laugh a little at this question because it takes me back to my first mega disaster at age 20 when I opened my first company. I was in a service industry and took on a client and a project that I had no business taking on. I was way over confident and I have to admit a little greedy (It was a multi-million dollar contract). What I didn’t do was double check on my client before I committed myself to the job to make sure they had the resources and stability to back up their claims and run the numbers carefully to insure that I would generate a profit, stay within their budget, and be able to meet their deadline without incurring extra labor expenses. In just a few months after starting the project the company suddenly went bankrupt and I was out thousands of dollars. It was a real struggle to regain my confidence and financial stability.
Years latter and lesson learned, I was once again approached with a huge and potentially very profitable project. This time however, I took a different approach.
2. We then sat down to have our first meeting and go over their project and proposed budget. I had doubts about how realistic the budget they proposed was and asked for 48 hours to verify what I thought would be closer to the actual costs of the potential project. You noticed that I said “Potential” because I still had not committed myself to the project yet.
3. Taking a more methodical approach safeguarded my bottom line, but also presented a more professional demeanor to my client and let them know that I was looking out for their interest as well as my own by giving them the most accurate information that was available.