Tips for Retail Success

From the Entrepreneur’s Perspective: Be willing to walk away from a deal because it’s not a win/win

It’s not easy to turn away business, especially if it’s from an account you really wanted to land. Been there, done that.

 

But, you have to be willing to walk if it’s not generating some value for you. That doesn’t have to necessarily mean that this account is profitable, as the value could come in another way. As an example, perhaps this account brings you credibility so it paves the way to landing a bigger, even more impressive account – that is profitable. Just factor that this account is costing you and that you know what that cost is – and that you are prepared to absorb this cost. Maybe it’s worth holding onto for the short and/or long term.

 

However, if you can’t justify this account as a segue for another bigger/better account and/or it is not profitable, time to move on – without them. It may feel difficult to let go, but your resources are better spent elsewhere. When one door closes, another opens. Time to make another value-added door open.

 

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