Years ago, while I was in college and working at a local bar, I got some good advice from the bar’s proprietor. He said, “Son, whatever you do take good care of the regulars. If you take care of them, they will take care of you. They will be your best tippers, and if they are happy with your service they will bring their friends with them next time and refer others to your place.”
This advice has served me very well in the business world. I frequently try to go out of my way to assist my clients with whatever they need. When they call, they are always priority #1. While I’m out in the market, they are always on my mind. True to the bar owner’s wisdom, when I take good care of my clients they often refer me to friends and business partners.
I read once that in business, 80% of your sales will come from 20% of your clients. If that is indeed true then it shows why it is so important to take care of the “regulars.” Don’t get me wrong – you should treat all of your clients and prospective clients well, and strive to do your best for them. But the regulars are the ones for whom you should go the extra mile. If I hear of a new property about to come on the market, the first people I think of are my regular clients. I’ll give them first bite at the apple every time, because I’ve done business with them in the past and I know they’ll do right by me if I do right by them.
Below I’ve included a lyric video of one of my favorite songs, Billy Joel’s “Piano Man.” He wrote it while working as a lounge player at a piano bar in Los Angeles after his first album failed to find an audience. Billy Joel was a legitimate musician, and he had played much larger and more important gigs than a piano bar. But he treated the regulars right, taking the time to get to know them. And, as he recounts in this famous song, they treated him right in return.
Have a great weekend,
Ro