Attracting high-value customers takes time, patience and luck

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by Lisa Chau

Insurance broker Bill Greenbaum believes that building a successful business is about being successful in his favorite sport, fishing. The most accomplished anglers catch the biggest fish, he says, without catching anything most of the time they’re in the water. Indeed, the most efficient fishermen are not the most efficient, especially when it comes to calculating the total hours they have spent on their boat.

During the long summer days, amazing fishermen spend most of their free time observing and analyzing the ecosystem. The most devoted devote every free moment to their sport. They think about fishing, talk about it, learn more about it, sort, clean and order gear from catalogs. They are planning their next trip.

In a related vein, Ari Zoldan, CEO of Quantum Media Group, said that great entrepreneurs diligently assess their pitch, plan accordingly and execute a well thought out plan. Zoldan never saw a successful business where these ingredients were not part of the overall plan. Every great business is driven by commitment and passion.

“A critical part of building a successful business is planning and patience,” he said. “These factors cannot be put into a spreadsheet and often not taken into account. “

Extraordinary entrepreneurs are diligent, not dilettants. Instead of just chasing immediate cash flow, they spend time cultivating high-value customers for bigger, long-term rewards. Their startup is not a side activity, but a way of life. It is in their minds every moment of waking and sometimes of sleep.

“Their passion helps reduce the frustration caused by failure, just as it provides motivation to seek alternative solutions or modify their goals if necessary,” says Greenbaum, the insurance broker. “Anyone can walk around and pick a fruit within easy reach, but if you intend to make a living from it, you will need to plant the seeds, maintain the land and harvest sustainably.”

An extraordinary entrepreneur never builds a high-value clientele overnight, just as an amateur fisherman rarely catches an award-winning fish on the first try.

Over 20 years ago, Jason Saltzman entered the consumer debt industry motivated to help individuals and families struggling with toxic debt. He opened several offices across the country with the intention of disrupting the industry. Even after pivoting his business model, he realized he wouldn’t be able to fulfill his mission or alleviate his debt without access to scalable technology. He made the painful decision to close several offices and lay off hundreds of employees.

“I carried this sacrifice with me for two decades, patiently waiting for the right time to come back and reinvent the credit debt industry as CEO and co-founder of Relief,” said Saltzman. “Twenty years since I started in the industry, the technology has progressed to the point where we now all have access to scalable technology in the palm of our hands, and my network is much stronger. “

Effective leaders know the power of good relationships and know how to harness them.

“The most successful entrepreneurs aren’t biters, betting on small bets,” said BatesCainelli CEO Stephen Bates. “Of course, you have to put food on the table with transactional efforts, but you won’t get success with biters’ bets.

“Investors and customers need to buy into your vision, which will only be realized through your ability to sell / tell an effective story: how your product or service will be a pain pill (mitigate risk, reduce costs, simplify complex) or by a pleasure pill (increase capacity, introduce new capacities or increase quality). The way you manage these connections will drive business, and high-value relationships don’t grow overnight, they often take years.

Travel writer Amanda Mactas keeps in touch with friends she made along the way on press trips. Sometimes they end up traveling together, but more often than not, they check in on each other through social media or email, and even vacation cards. “Forging these relationships is so special because you connect with like-minded people who care about each other,” Mactas said.

She met her fellow journalist Michael Alpiner at an event for New York Tourism in 2019 in New Orleans. Although they haven’t seen each other since, they reconnected recently and he later invited her to a recent event, hosted by wellness brand Qi Alchemy. It was there that she met Company Founder and CEO Grace Yoon, who explained, “The journey of building a business has to start with your heart, so listen to it as you build your business. . There is no overnight success. Building a business takes patience, persistence, discipline, and a combination of timing and luck.

Sometimes it also takes a big gesture. When Zoldan first opened his marketing agency, he wanted to attract a specific client based in Singapore. After several arguments for the company, it was about his company and the competition. To show his commitment, he offered to fly from New York and show up the next day in Singapore for a dinner meeting. His commitment and perseverance won him the count.

The best leaders (and fishing enthusiasts) rely on in-depth research and analysis to understand their particular market and prepare for the great opportunities that present themselves, just like Zoldan did.

They recognize that luck and the agility to pivot intelligently inevitably play an important role in achieving desired results. It all takes extreme patience, preparation and time over years of discipline. They focus on the long game rather than the immediate gratification of small wins.

Lisa Chau is author and founder of Clover Canal.


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