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Solve clients’ problems without cash

The Chronicle’s Business blog

Have you ever had great clients who became unhappy with you or one of your people? Did you lose them? Did you have to cut your prices or refund their money? Our friend John Carlton says that any problem that can be solved with money can be solved without money. That simply means that using cash to solve problems shows that you’ve stumbled upon a value level where unhappy customers can be coaxed back into the fold. But value doesn’t always equal greenbacks. Once you’ve established that the unhappy client WILL come back, for the right value … then you’re free to experiment with things other than cash. Like free stuff that’s valuable to them. Too many biz owners get caught up in a black-and-white world of cash or no cash. To savvy entrepreneurs this means creating value with an hour of your time over lunch, free membership in master mind groups, gifts, golf outings, theater or sports tickets or other incentives you can provide. Think what they would find valuable that’s as good or better than cash. Does this make sense? Throwing money around cuts into your bottom line. We discuss such solutions in “Maverick Entrepreneur’s Million Dollar Strategies,” a book that can change your life and business. For a $20 personally autographed copy, call Jewel or Katie at 803-359-7633.

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