Clients are the ultimate deciding factor in your success

ATTRACTING and retaining clientele is an integral part of running a successful business – irrespective of its industry, structure or size. Although a challenging feat for all entrepreneurs, this can be particularly trying for young entrepreneurs, who have not had the privilege of building up a network of business contacts and potential clients over a number of years.

This is according to Gugu Mjadu, spokeswoman for this year’s Entrepreneur of the Year competition, who says that young entrepreneurs are often so focussed on the novelty of establishing their own business venture that they forget the importance of securing an initial customer base.

“Regardless of how innovative or necessary a new product or service may be, clients are ultimately the deciding factor in whether or not a business venture will be a success,” she says.

Mjadu explains that although securing business is a challenge for just about every entrepreneur when starting a business, seasoned business owners or experienced individuals who have worked in an industry for an extended period possess a network of contacts or may have potential leads in place based on existing relationships.

“This may however be very different for young entrepreneurs that have just finished university or recently started their careers,” she said.

Mjadu adds that it is very unlikely for a start-up business to have a big budget for a marketing campaign, but there are still things that a business owner, as an individual, can do to get things rolling.

“While start-up marketing is important, landing that first client doesn’t require an expensive marketing campaign. Rather, it comes down to what a young business owner can achieve with the limited set of resources available to them.”

Mjadu provides her five top tips for young entrepreneurs/ businesses looking to land their first client: it comes to gaining business as a start-up, talking one-on-one to a few well-targeted individuals and gaining their support will prove to be more valuable.

While it may seem somewhat counter-intuitive, reaching out to competitors and other similar players in the market can be extremely beneficial in finding clients – especially for a business in its infancy. A good way to do this is by joining industry groups and forums – whether these are online or face-to-face.

Rather than seeing other businesses as competitors, view them as opportunities for business expansion through collaboration.

Networking with likeminded people, and those in the same industry, can offer the potential for a young, start-up entrepreneur to engage with and learn from more experienced business owners which can also prove invaluable.

One of the most important elements in successfully sourcing new clients is clear and targeted communication. Entrepreneurs should decide on a tone and style for their brand very early on in order to communicate in a consistent manner that connects with their specific target audience.

Furthermore, entrepreneurs need to identify the channels that are likely to be most effective in reaching these clients – which ties in with having a clear idea of exactly who is being targeted.