How Big Clients Can Break Your Business #1805

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 24 July 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1805, Neil and Eric talk about how a big client can break your business. Of course, you want to grow the size of the clients you work with. But this mustn't be a strain on your resources and your people. Tune in today to hear how to scale incrementally and successfully. TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: How Big Clients Can Break Your Business [00:29] An example of how a big client could break your business. [00:47] If you are not set up to deal with a big client, it takes away from your other clients. [01:33] You have to think long-term when taking on a big client. [02:09] Why it is also important to consider client concentration. [02:30] The importance of defining your client profile. [03:03] Stop it at the start; what Neil means by this. [03:26] Slowing work your way up to bigger clients rather than going all at once. [03:58] Cut toxic clients off as soon as possible. [04:24] Take on a small project from a big client if you can. [04:40] That’s it for today! [04:40] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or call us on 310-349-3785! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.8	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:17.8	All right guys, before we start, we got a special message from our sponsor.
0:24.1	If you want to rank higher on Google, you got to look at your paid speed time.
0:28.6	The faster your website loads, the better off you are.
0:31.4	With Google's Corvital update, that makes it super, super important to optimize your
0:35.5	site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use DreamHouse.
0:42.2	So just go to DreamHouse or Google it, find it, check it out, and it's a great way to
0:47.1	improve your low time.
0:48.5	Today, we're going to talk about how big clients can break your business.
0:54.6	So let's just give an example right here.
0:56.3	So let's say you're running a consulting company and most of your clients are paying
1:00.6	you $1,000 a month.
1:02.1	And then you have one client that's paying you maybe $10,000 a month, right?
1:05.0	So there are 10x customers in your average.
1:07.1	That's an example of a big client.
1:08.9	So we want to talk about kind of our experiences, we'll just make experience shares and then maybe
1:12.9	talk about what you can do to kind of avoid having your business broken by big clients.
1:17.4	The thing that I really learned early on is if you're not set up to handle it, what
	...

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