Bill McLaughlin provided insight into what it takes to court the right clients to replace lost revenue when a relationship with a major client ends:
- When considering a new deal, talk to the analysts and reporters who cover niche industries and get their input about where there's room for growth, not just success now;
- Make sure a potential client's viability in a specific market segment dovetails with your company's;
- Put together new-business SWAT teams to help you canvass the marketplace and get a taste for what the next wave in business will be; and
- Don't enter into a relationship with a client unless there is chemistry between your company and their principals as well as closely aligned or parallel business philosophies. (Lois Paul & Partners, 415/286-3835)