Posts Tagged ‘Economic Slump’

Adjusting to Clients Income Pattern

Friday, August 20th, 2010

Corporate Towers

Currently we are in the midst of one of America’s worst economic slumps where patience is one of the most sought after virtues. When forming our business relationships and partnerships we are more than eager to make as much money as possible. Most people however when very eager to bring in revenue for their company function blindly and overlook many of the factors of the people they deal with. Although it’s the top priority on your list to want to put food on the table for your family you must realize that some companies are financially bound around certain times. An example would be when work around the office begins to become scarce and you look towards another business to bring in some extra cash. What you don’t know though is that they are unable to provide a sufficient budget because it is seasonally not an appropriate time for them. You must never get your hopes up with a client because of the many unknown factors that determine if they will be able to reach your agreement. It would be beneficial to you and your company to keep a pulse on the economic status of your clients to have a feel of what project work would be most appropriate at which times. You should never have high hopes that companies will be able to bail you out of a slump of work when in reality they are in a slump of their own. As a business you must strive to be flexible and maintain relationships with clients in order to adjust to their unique income patterns. Patience is a definitive trait that a company must have and business is never a steady flowing market so you must learn to get through the drought in order to reap the benefits.