by Eric Gilboord
Angel Investors often invest money and time. As a business owner you’re investing your time, resources and money in acquiring or keeping customers. The wrong customer can be costly and disruptive to your company. Your customer base is like an investors’ portfolio. Smart Angels review their investments to adjust for performance and economic changes. Wise business owners do the same with their customer base.
Finding good customers and keeping them is hard enough without spending a disproportionate amount of your time and resources on generating more new ones. Before you accept a new customer, consider using the indicators below to determine whether or not they are a good fit for your company. Various criteria may be utilized. Here are 7 to get you started.
7 Things to Consider About Current or New Customers
- Do they have the ability to pay for your services?
- Have they used a service like yours before and was it successful? What went wrong?
- Are their sales up or down? Do you want to be part of a winning or losing situation?
- Are their employees happy or biding their time waiting for the doors to close?
- What is their reputation with customers and competitors? Are they forward thinking or out of pace with their industry?
- Do they have a plan to grow? This includes Business, Sales and Marketing plans.
- Do they have complete management and worker teams or are there holes? Is that trouble or an opportunity for you as a supplier?