How did an Australian accountant who was burning out fast turn things around so dramatically that his story got featured not once but twice in Australia’s top business magazine – BRW?
Today, Chris the accountant, has a multi-million dollar practice, doesn’t need to work more than 7 hours a week IN his business, is the ONLY accountant in the business, charges LESS than most accountancy practices and has built up a small property empire in the tens of millions that was all created through his BUSINESS INCOME.
But things weren’t always rosy for Chris.
When I first met with Chris he was working 70+ hour weeks. He was at his clients beck and call. His health was failing him and he was continually under stress, overwhelmed and overworked.
Chris came to me about his situation.
He had too many of the wrong type of clients in his business.
I explained to him that there were only 4 types of clients in his practice and it is business suicide to treat them all with the same level of service.
Chris protested a bit by saying that he prided himself in being there for his clients whenever they needed him. I quickly reminded him that not all clients are equal and not all clients deserve the same level of attention.
We quickly figured out that he needed to get rid of his ‘C and D’ clients.
C clients are the type of clients you CAN’T make any money from.
And the D clients are the ones you just DON’T want to deal with.
There’s a whole checklist for assessing this, but for now I’m sure you’re getting my drift.
What Chris did next even took me by surprise.
He got rid of not only his C and D clients but also his B clients (we call B clients your BASIC clients).
And he did it overnight with one simple letter.
He effectively ‘Sacked his Clients’.
At the time he had around 750 active clients…he sacked 93% of them!
He was left with 56 clients that fitted his new ‘A-Client’ profile.
Did it pay off?
You bet it did!
Over the next twelve months Chris did more profit with those 56 clients than he did with his entire client base. But here’s the kicker – he reduced his working hours by over 70%.
What did he do with those extra hours?
He went back to those A Clients and asked for referrals…he built a new business around attracting more A clients.
I said to Chris to remember that D clients refer other D clients and A clients refer other A clients…which clients do you want more of?
It’s a no-brainer. Be careful what you focus on because it’s exactly what you’ll get in life.
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