The Only Metric That Matters for a Service Business…

…is retention. Are you able to keep your current clients?

Josh Brown states his case here in reference to financial advisory firms, but I think this perspective can be adopted by any service business.

Focus on overdelivering for the clients you have, and odds are others will recognize the value of your product/service when you inquire about working with them too.

The three bullet points I liked best from Josh’s post:

— Tell the clients what you are going to do and then do it

— Turn away potential clients whose objectives are not within your circle of competence

— Standardize the process, customize the advice