2 Reasons to Treat Your Business Like a Client.

Plus, a Lesson in Overcoming Objections.

Owners and leadership teams of service-oriented businesses tend to focus on their clients’ needs. While that may be both an obvious statement and a necessary one, it’s only part of the strategy needed to run a thriving business.

In fact, did you know that there are numerous companies out there with happy clients who are losing money, losing employees, and in some cases shutting down altogether?

For a recent example, look no further than 99-year-old U.S. trucking company Yellow Corp, which shut down on Sunday, July 30th of this year.

Previously known as one of the Big Three trucking companies, Yellow Comp maintained a network of terminals and supported unionized labor, building a business that focused solely on the LTL or “less than a truckload” segment.

Customers flocked to Yellow Corp and remained loyal and happy due to low prices. However, the company started taking on significant debt over two decades ago and failed to restructure, negotiate appropriate pay for drivers, and update customer pricing accordingly, to remain sustainable. And now, they will no longer be around to serve those loyal customers.

Unfortunately, the team at Yellow Corp is learning the hard way.

You can only serve your clients if you’re still in business.

While those of us on the outside may never know what really happened, it appears they focused so much on what their customers needed and wanted, they neglected their own business’ needs to remain sustainable in a rapidly changing marketplace. Now their customers will need to contend with the hassle of changing shipping companies and higher prices. As trucking industry consultant, Satish Jindal so aptly described, “They’re finding out that the price was below the cost of supporting a good operation.”

So how do you stay in business and provide your clients with the best-in-class service that they expect?

Treat your business like a client.

There are a myriad of reasons why treating your business like a client will benefit you, and likely even more excuses leaders make as to why they shouldn’t or can’t do that.

Let’s dig into two of those reasons, common objections, and how to change your mindset to overcome those objections.

Reason #1: Make more money, specifically PROFIT.

Making more profit should be a good thing - right? Keep in mind that not everyone sees it that way. If you’re more concerned about the mission of your company or the number of people/organizations that you’re able to help, money may seem secondary and/or not as important - which brings us to the following objection.

Objection: Money (or profit) isn’t our priority.

Unless you’re independently wealthy (and if you are, good for you, but we can’t all be that lucky), you have a list of bills to pay, including the salaries of your team. Even if you don’t want to double or triple the size of your business, wouldn’t it be nice to have some extra set aside to reward your team, stress less when you hit a downturn, or even take an extra vacation?

Money may not be the end all be all, but it is still important.

Reason #2: Create a sustainable legacy for your business.

Business owners who are driven to help their clients may feel like the words “creating a legacy” sound self-serving or that they’re taking something away from their clients if their business does well. They may also fall into the trap of believing that keeping clients happy trumps everything else, leading to another common objection.

Objection: Client satisfaction is most important. As long as our clients are happy, business will be good.

There is no doubt that client satisfaction is important - very important. But consider the following…

Q: How do you ensure all your clients are receiving the same best-in-class service?

A: Define, document, and refine your SOPs (aka standard operating procedures) - which means working ON your business.

Q: Your clients love the team they work with, so shouldn’t you focus on keeping your employees happy, focused, and empowered?

A: Yes, obviously. And that means focusing internally to create processes and policies that create efficiency and support your team - who then support your clients.

Q: While we’re on the topic of team members…isn’t it more expensive, more time-consuming, and more likely that you might lose a client if you have high employee turnover?

A: Yes, yes, and yes. Most people don’t like change, and clients especially hate change when they were previously very happy with the team’s support.

While there are many more examples, you’re likely starting to see a clear pattern emerge.

Treating your business like you treat your clients is vital to both client satisfaction and the sustainability of your business.