In the world of business, there are two primary approaches: cultivating and chasing. In this metaphor, we consider the entrepreneur as the cultivator and the freelancer as the one who chases after opportunities and the agenda. This reversal of roles sheds an interesting light on how they approach business opportunities and how they attract and retain clients. Let's delve deeper into these concepts and discover which approach suits you best.
The Cultivator: Developing for the long term (the Entrepreneur)
Entrepreneurs are often associated with the cultivator mentality. They are dedicated to developing their businesses for the long term, much like a farmer tending to their crops patiently waiting for the harvest. Entrepreneurs invest in creating a strong foundation for their enterprises, understanding that this process takes time and commitment.
In the context of client retention, entrepreneurs focus on building sustainable relationships with their clients. They strive for long-term partnerships and comprehend that retaining existing clients is often as crucial as acquiring new ones. They offer value and quality, leading to repeat business.
The cultivating entrepreneur can be compared to a farmer who carefully tends to their crops, sowing the seeds of collaboration and ensuring fertile ground for growth. This can result in a stable and predictable long-term income stream.
The One Who Chases: The Hunter Mentality (Freelancer)
On the other hand, we have the freelancer, often seen as the one who chases after opportunities. Freelancers are independent professionals who frequently seek new prospects and projects. They chase short-term opportunities and are accustomed to a more flexible way of working.
In the context of client retention, the freelancer may emphasize acquiring as many short-term projects and clients as possible. They excel at attracting new business opportunities and may be less concerned with building long-lasting relationships. For them, it's about filling their schedule and achieving short-term results.
The one who chases can be likened to a hunter who goes out every day to survive, constantly searching for new prey to maintain their income stream. This approach can lead to quick profits, but it can also result in an unpredictable income.
The Right Approach for You
Now that we've reversed the roles, it's essential to consider which approach aligns best with your business goals. Some entrepreneurs may still incorporate elements of the cultivating mentality into their strategy, while some freelancers may recognize the benefits of long-term relationships.
As an entrepreneur embracing the cultivating mentality, you focus on developing your business for the long term and building strong relationships with your clients. This can lead to steady growth and sustainable success.
On the other hand, as a freelancer who chases after opportunities, your focus is on maximizing your short-term income by seizing new opportunities and filling your schedule. This can result in rapid profits, but it also requires continuous acquisition of new projects.
Conclusion
Whether you embrace the cultivating mentality of the entrepreneur or the hunting mentality of the freelancer, the most important thing is to be aware of your approach and align it with your business goals and values. Both approaches have their place in the business world, and it's possible to combine elements of both to create a successful strategy.
Remember that client retention is crucial, regardless of your chosen approach. Building strong relationships with your clients can lead to repeat business and growth, whether you're cultivating or chasing. Ensure that your clients are always at the forefront of your business strategy.
source of the metaphor: Ben Crothers. Ben Crothers is an Australian fellow entrepreneur active in visual facilitation and coaching. He is also a successful author of several books and keynote speaker. The inspiration of this blog came after a regular informal exchange between Karl Mortier and Ben Crothers.
