According to the Pareto principle, 80% of your profits come from just 20% of your customers.
With the events of this year, this statistic has likely been true for one too many businesses. As common as it is, relying on a few, large customers can leave your business open to losses and damages, like the effects the pandemic has had on so many in 2020.
There is no doubt the decision-making unit is treading much more carefully when it comes to their 2021 planning, and splitting revenue streams across many, smaller accounts is a proven way of creating a more resilient and risk-averse business model. That’s why we’ve put together 5 top tips on how to stop relying on your ‘big fish’ customers, i.e. not putting all your eggs in one basket.
Click the tablet and read on to find how you can adopt this into your own 2021 planning…