One of my young, ambitious employees came to me after discussing upcoming project requirements with an important NBI client. “Their budget for the project is $150,000,” the employee said to me, “but I think I can get $180,000 out of them.”
I had to stop the conversation and remind him that this isn’t how NBI operates. Our approach has never been to focus on how much we can get from clients, but rather on finding what I like to call the project’s sweet spot. As in, where is the symbiotic point within our exchange of services and payment where we can solve the client’s problem and get fair-value compensation for our work?
To further explain the sweet-spot concept to my new employee, I drew a triangle balancing on a pillar on our whiteboard.
“The sweet spot is all about balance,” I explained. Too often companies drift towards one of the three triangle points, at the expense of the other two. More often than not, profit becomes their primary focus regardless of whether it fits a client’s budget or solves the original problem. This approach might work out in the short term, but in the long run it alienates clients and throws your business out of balance.
We all know that business is about building relationships, but far too often those relationships take a back seat when money is involved.
At NBI, we’ve found that by instilling this sweet-spot mentality in our employees, it produces results and turns single projects into long-lasting business partnerships. And that approach benefits everyone involved.