Comfortable? I hope not. Unless you have obtained a level of wealth that makes you bullet proof from downward changes to your business or employment status, then it doesn’t pay to get too comfortable.
Years ago, someone said to me: “Homza, sometimes the risks you sit are greater than the risks you run.” I had to think about that one for a few moments but I realized that assuming the status quo will continue is risky because there is certainly no assurance of it. And obviously, more than 20 years later, I have not forgotten this message. Too often, I have seen business owners assume that things would just continue to hum along blissfully unaware of the risks they face. This attitude can easily get you blindsided either by a sudden loss of a major customer or changes in economic factors.
More recently, one of the best and most successful businesspeople I know said, “On any given day, 20% of our customers are thinking about firing us.” Now, I doubt it’s really 20% but despite their success, the company this individual runs is always focused on being better and growing. That view of the world is the reason behind their success. They are never complacent and never let themselves get comfortable with the status quo.
Every January, I ask myself which of my clients will drop off during the year and why? I don’t think I have ever been right. It is always someone else for a reason I didn’t anticipate. Because I never assume that I can roll through the year without replacing a client, I am always doing some level of marketing and networking. Whenever an engagement ends, I either have a list of warm prospects or at times someone ready to come on board and just waiting for me to have open capacity.
So, ask yourself some simple questions. What do each of your customers need now that you are not doing for them but could? Look at it from their perspective, not your own. In other words, how can you make your customers better or more successful? By making them better and more successful, you will do the same for yourself. And then think about the future. What will your customers need longer term that you are not doing now but need to down the road? Talk to your customers about this and then work to develop the capabilities to provide whatever product or service meets the expected need.
And while I alluded to it in my opening paragraph, this doesn’t apply just to business owners. If you are an employee, you’d be wise to be asking yourself the same set of questions.
If your business could benefit from fractional CFO services, I would welcome the chance to speak with you. Please give me a call at (314) 863-6637 or send an email to [email protected]
The archive of these monthly newsletters is posted at the Resources section of homza.com
your cash is flowing. know where.®
Ken Homza
Copyright @ 2025 Kenneth M. Homza