If not, taking a few tips from this guy might be useful.
Watched an incredible documentary last night, in which extreme fisherman Jeremy Wade traversed up and down the Congo in search of a monster fish called a Goliath Tigerfish – basically, a six-foot-long piranha hybrid which has been responsible for the deaths of people getting in its way.
The moment of glory can be seen here – when Wade catches a huge Goliath Tigerfish in the Congo river. Awesome.
And what a journey our extreme fisherman had hunting down and landing this monster fish – one which made me think about searching for an equally tricky beast – the monster client.
Have you ever caught a monster client? Was it a good experience? Was it enriching for you, or an absolute nightmare?
Let’s look at Wade’s experience for illumination:
* He spent more then three weeks of fruitless fishing, almost catching a monster fish and losing it
* He researched extensively, speaking to villagers and local fisherman about the elusive Goliath Tigerfish
* He consulted an esteemed witch doctor, gaining powerful potions and competitive knowledge to win the catch
* He patiently returned to the hunt – catching a fine specimen of a monster fish, the Goliath Tigerfish
What happened next? Did Wade get fame and glory? Riches beyond his wildest dreams in the world of fishing?
No – in fact, the Tigerfish died at the riverbank within 30 minutes, having been exhausted beyond reason by the struggle. And so, despite having caught his monster fish, Wade was resigned to taking it back to the witch doctor’s village, where it was eaten.
Have you ever tried to land a monster client?
Invested in extensive research, jumped through all the right hoops in order to get the prestigious monster client you think your business needs to succeed?
Have you given blood, sweat and tears to catch the monster client, only to see it die on you when you’ve won it?
Life can be like that.
Three years ago, I had a monster client. Key account, 80% of my revenues all tied up in the one piece of business.
Trouble was, after 18 months of brilliant account management, great results, and a fantastic relationship with one of the Directors, the Managing Director of the business (not my main contact point) put the firm into overnight liquidation.
Lost all that revenue with the death of the monster client within 24 hours. Gone. Never to return. Sunk without a trace.
My point is this – if you’re chasing the big account, the moneyspinner business win, the monster client – beware.
If the prize fails you, it could become an expensive mistake, as our extreme fisherman Wade finds out with the Goliath Tigerfish.
My monster client died on me, too, and taught me an amazing lesson. Never hunt for a monster client again – it’s not worth it. Instead, work with a group of more consistent clients, all with roughly equal revenues.
Today, I work with corporates on the odd project, repeat campaigns and one-offs. But it’s not regular work, just nice additions to the portfolio. It doesn’t pay the bills.
My rosta of 6-9 ongoing clients, all accounting for up to 15% revenues each of total revenues (maximum, ideally) form the bread and butter of my catch.
These smaller fish are easier to handle, easier to take care of, easier to catch, and rarely die on me after being landed.
Think about it.
Now – are you sure you want to land that monster client? Why not let it go, and hunt for more profitable fish instead.
