The Understory Dispatch - Message #9

The 7 Iron Client For When The SHTF (Why Connection Is More Important Than Short-Term Profit)

The 7 Iron Client For When The SHTF (Why Connection Is More Important Than Short-Term Profit)

There are two movie scenes that I cannot watch.  If I have control of the remote when they come on, I will fast forward while trying not to glance at the screen.  If I am at an old person's house watching traditional TV, I will close my eyes while plugging my ears with my hands and scream “Ahhhhhhh!!!!!!” at the top of my lungs. 

Scene one, which creates the apex of my discomfort, is from the movie Swingers.  It’s when Mikey gets home from the club and calls the girl he just met fifty times.  Scene two, which is only slightly less cringe for me, is the scene in Tin Cup when Roy McAvoy keeps putting the ball in the water because he can’t stop himself from “going for it”.

The reason these fictional scenes are so tough for me to watch is that I identify so closely with the character at that moment in the film.  This is because I have experienced these scenes literally and metaphorically in real life multiple times.  When they come on I want to scream at the screen “DON’T DO IT!!!!!!!!!” because I still feel the pain of those decisions.  I judge myself very harshly.  

(I am still embarrassed about things I did in elementary school.  If you ever meet me in person, ask me about the “two Sarahs” story.)

There are of course awesome scenes in these movies as well, which create a visceral ying/yang experience for me when I watch them.  In Tin Cup, one of my favorite scenes in the movie is when Roy gets in a fight with his caddie and breaks all of his clubs except for the 7 iron, saying “But then, there is the seven iron.  I never miss with the 7 iron.”  He then goes on to win the day using only his favorite club. 

The reason I like this scene is because it shows that someone who knows what they are doing even during a crisis.  One of the signs of competence in any area is knowing what to do and having options when things go sideways.

Things Go Sideways For Everyone

It is easy to succeed in business when the economy is humming and things are going your way.  You can create this condition for yourself by doing the things necessary to get momentum in your business.  That said, you cannot sustain “Big Mo” forever.  Either you are going to make a mistake, or market forces will pivot in such a way to put you on your heels.  This is inevitable in your business, so it is a good idea to mentally prepare yourself for it to happen.

(Not a bad idea to have some money stashed away for a rainy day as well but I digress.)

A lot of writers will nod their heads at this concept but very few will take this idea to the next level with the idea that this applies to your clients as well.  Remember, the goal is to have clients who pay you a retainer so you get monthly recurring revenue (MRR).  This allows you to have stability in your business and not spend all of your time on client acquisition.  A consequence of this model is that when you start to have clients for longer periods of time, you will notice that their businesses will have their ups and downs as well.

Sometimes the valleys of your clients are really bad, like an existential crisis for the business bad.  When this happens you have a choice to make.

Mercenary or Bard? (Spoiler: It’s both)

There will come a day when your client can’t pay you.  I’m not talking about early in the relationship here.  If you have done your due diligence, this should never happen barring some cataclysmic economic catastrophe that is hitting everyone.  What I am referring to is when they are experiencing a cash liquidity problem because of an event that will resolve itself at some point in the near future.

(Your client saying “we are running out of money because the business is failing” does not count.)

For example, your client suddenly finds themselves in a partnership dispute and the bank accounts get locked.  Another example is one of your client’s other businesses fails and this temporarily impacts the business that has hired you.  Both of these scenarios have an endpoint where operations should return to normal.  This is not an exhaustive list. There are tons of other things that meet this criteria. 

When something like this happens you have a choice to make:

  1. Work for free with an understanding that you will get paid when things normalize, or 

  2. Stop working until things get normalized, or

  3. Fire your client and never work with them again.

Number three is just dumb but there are people who will do this for some guru alpha-male retardery reason.  This is silly because you have already spent the time and effort to get this client.  Why would you want to start from scratch to go get another one?

Number two is what most people choose (especially agencies).  The reason for this is that they are operating under a straight service model.  You pay me, I do the service.  FYI - This effectively makes those who do this a glorified plumber.

I almost always choose number one.  Why?  Because I look at this situation as the opportunity to invest into the strategic partnership with my client.  It aligns with my values and how I see my people.  There is also another deeper reason as well.  It is in my pure self-interest to do so.

Why Connection Is More Important Than Short-Term Profit

With enough perspective, the “right thing” to do in life is almost always in your selfish best interest.  This is especially true in business.  If I continue to help my client make money when they are in distress while everyone else is bailing on them, they will always remember this.  I have found that when things normalize for them I get paid on time and they are very forgiving for my occasional mistake.  When this happens my I now have a 7-iron client for my business.

This means they are always there for me to turn to in times of need.  This does not mean that I can do sub-par work for them and not worry about it.  In fact, once you have a client like this you start looking for opportunities to make the connection deeper for both of you with elite work.  (There is a professional line here.  You don’t want to end up rubbing each other's feet.)

Once you realize this, you then realize that this is a viable strategy for all of your clients even when times are good.  Investing in your people becomes a business strategy.  Do this enough times and guess what happens?  You have a rock star portfolio of clients and you never have to call in the emergency chip because you business has become practically bulletproof.

On the days I feel virtuous I invest in my clients because it is the human thing to do.  On the days I am nervous and feel like a mercenary I invest in my clients because it is the correct business move.  Again, with enough perspective, the right thing to do is almost always the selfish thing to do.  Achieve that perspective for yourself and your decision making process becomes much easier.

Something to ruminate on.

More in a bit . . . Wade, The Understory Bard

PS - Irregular Means Irregular

If you haven’t noticed, this newsletter comes out inconsistently.  This is by design.  I get to it when I get to it.  If you want to hear from me on these topics on a much more regular basis, you can opt-in to my email list here: Understory Bard Email List Opt-in.

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