Chasing Revenue Everywhere and Anywhere
Profit Leak #9
You must identify the kind of customers you want a lot more of. If I analyzed your customer database, it is likely I would find that bad customers (i.e., they pay poorly, are less profitable, complain a lot, are hard to service, do not give referrals, etc.) make up a significant portion of your revenue. This happens mainly because companies find it easier to get the bad customers, particularly when businesses first open and need revenue to survive. In addition, you may mistakenly think that all revenue is good. In practice, it is lack of focus that drains organizational energy and profits. Furthermore, building a base of bad customers creates a wrong brand image and handcuffs your company.