About a dozen years ago my wife and I were seriously exploring IVF or In Vitro Fertilisation. We were finding it difficult to find a clinic that was prepared to accept our case at first.
My wife and I between us had some personal connections that enabled us to be put in touch with one of the foremost fertility consultants in the land.
That person had a phenomenal success rate, something very important to us, less from a cost perspective, and more from a risk to the mother perspective.
The disappointment we ran in to was simple. This consultant wouldn’t accept us because to do so would significantly impact their success statistics. They had such an exceptional success record because they were very careful about who they took on. What we needed was a consultant and clinic that had more experience and knowledge about our particular circumstances. In the end it was not to be, and in time we turned our love & resources to other needy causes.
And so it is with you and your business. You have to be choosy about who you do business with and/or what kinds of opportunities you invest your time, energy, resources and emotions in to. Getting it wrong can spell doom for your business.
For example, one company I have worked with deliberately stays clear of some very big business opportunities, because it has realized that those accounts are very difficult and demanding to work with, especially given the low levels of returns they generate. It would rather work a greater number of other accounts and opportunities, do a great job, as it always does, but get a reasonable reward for the effort.
So take time out to identify the best kind of accounts and opportunities to work on for you, that also align with where you want to take your business. A great place to start quickly, is to look at the best accounts and opportunities you’ve had over the last 2 years, write down what it is about them that you like and value, and use that as a starting point to help you target new accounts and opportunities going forward.