Long Summary
Dan discusses the reasoning behind their business decision to stop taking on individual website projects for new customers. Despite still catering to existing monthly paying clients, the team realized that dedicating resources to one-off projects was not sustainable. The low income generated from these projects was disproportionate to the amount of time and effort required, diverting attention from loyal, high-paying customers. By shifting focus back to regular clients, they aimed to provide better service and nurture lasting relationships, leading to significant business growth and impressive results for their clients.
Dan emphasizes the value of prioritizing ongoing client relationships over quick, one-time transactions. He shares success stories of clients who benefited greatly from ongoing services, achieving substantial revenue increases and impressive online engagement. Dan points out the inefficiency of pursuing small, isolated projects compared to securing long-term, higher-paying clients. Despite the initial difficulty of turning down immediate cash flow opportunities, Dan believes that redirecting efforts towards consistent clients will prove beneficial in the long run.
Moreover, Dan discusses a recent experience where a potential client hesitated to commit to a website project, negotiating extensively on price before eventually missing the opportunity altogether due to the team's decision to shift away from such projects. This incident highlights the challenges of balancing short-term gains with long-term business strategies. Dan acknowledges the uncertainty surrounding their decision but remains confident in its potential positive impact on their business growth and client relations. He encourages viewers to evaluate their own business practices and consider the importance of prioritizing long-lasting client partnerships over transient opportunities for financial gain.
The Wealth Creation Podcast is brought to you by Daniel Latto, and is designed to help you learn the steps you need to take to achieve Financial Freedom in the next 5 years.
Discover how to make more money, turn that money into investments, and live from cashflow while never having to work again.
The podcasts covers three main areas
1. Cut Costs
2. Generate Cash (Business)
3. Invest the rest (Property)
Throughout the podcast episodes, I'll be going through the step by step actions you can take, including any Business & Property Strategies along the way that can accelerate your results.
The Podcast is hosted by Daniel Latto.
Daniel Latto is a business coach originally from Leeds, and now lives in the Mediterranean providing advice for business owners and entrepreneurs.
You can contact Daniel Latto at his website at http://www.daniellatto.co.uk
Why we stopped taking on individual website projects and focussed more on existing clients - The Daniel Latto Podcast Show - Season 9 Episode 61