The Doom of Shiny New Customers

Have you ever had an opportunity that appears too good to be true? You’ve built out a strategic plan and charted your course, and then… your dream client appears out of the blue like a mischievous dolphin swimming alongside your boat. What do you do?

The temptation will be to immediately say ‘Yes’. It’s everything you’ve been hoping for and you’ll potentially achieve your five years goals in three. What could be better? The problem is, it’s never that simple. 

This is exactly what happened to me. 

I was happily sailing along with my team building our facilities management company in the north of England when out of nowhere a great opportunity appeared. The customer was in urgent need of help and was eager to work with us. However, taking on the contract would require a major shift internally and carry with it a high level of risk. 

To fulfil the contract successfully, we would need to mobilise quickly. 

And it’s here that the Loom principles come into their own. 

Although taking on the contract would have consequences across the business, there were four areas it would impact the most:

🛒 Customers: Kicking off the project, we wanted to make the right first impression but we had to be careful. While scrambling to fulfil their immediate need, we also had to ensure we continued to maintain our high standard of care to our existing clients. 

👥 People: The start date wouldn’t wait for us to recruit a new team, meaning we had to second individuals from existing teams without compromising overall performance. There was a lot of excitement for the project requiring us to manage the emotional needs of those who couldn’t be involved.  

🏗 Operations:  New suppliers needed to be found, common issues needed to be identified and catered for, and new systems needed to be built internally to meet demand and efficiency. 

⚠️ Risk: With an expanded portfolio there was a greater risk of impact on all our clients and reputation, including strain on our existing teams. With further distances to travel, we provided extra driver awareness training and planned ahead for winter. Being in rural Yorkshire, we switched to winter tires, provided in-car winter safety packs and brought new vans with bigger engines to tackle the hills. 

👥 People: Our newly recruited, geographically dispersed team members needed to feel part of the team. Each week, the Project Lead met with the team for what was known as a Huddle, usually over breakfast in a central location. 

More often than not, the consequential effects of our decisions extend far beyond the obvious. 

Before moving ahead, these things need to be considered. Years later, another ‘shiny new’ contract appeared, but after reviewing all the variables, as attractive as it looked, the impact on our business was too great and we turned it down. Much to the surprise of our prospective customer and the industry. 

Looking at all variables and scanning the business as a whole is an imperative part of growing a business. Nothing can be taken in isolation. 

Far too often, we fail to see the big picture and this is where many ‘Accidental Entrepreneurs’ get into trouble. They simply don’t know what they don’t know. 

If you’re currently weighing up a new contract, or have recently taken a new one, and you’re concerned about the consequences it will have on your business, I invite you to get in touch. 

I will be happy to review your situation and provide any necessary key insights you may be missing. 

Photo by Simon Infanger on Unsplash