Is past performance a good predictor of future performance?

Is past performance a good predictor
of future performance?

Whenever someone applies for a job, it's typical to include a résumé with the job application. That résumé includes a lot of stuff about past performances. Athletes often get on with teams based on past performances. Résumés and past accolades are not always good predictors of future performance.

The same thing applies to our Clients, even those that we might think "are just not worth it." We might think that a Client is a holy terror, but without knowing any intimate details about what makes the Client that way, I've found that it's always best, as my wise old grandmother taught me, to kill 'em with kindness. In my opinion, all Clients are "worth it" is because you can't predict the future.

Back in 2002 I had a prospective home inspection Client who hassled with me for 30 minutes over the cost of the home inspection on a condo. $199. He wanted $50 off. I could have done it for $149 and just broken even, but I held my ground.

After 30 minutes, I told him the price was now $249. He asked why. "Because I charge $100 per hour and you just used 30 minutes of my time." He accepted the $199. He was a terror, on the phone, during the inspection, and after the inspection.

I stayed in touch via email marketing, and five years later he called and asked me if I remembered him. "Just a minute. Let me look you up in my database. Oh, yeah, I remember you. What can I do for you?"

He needed an inspection on a house he was buying. The property was on Catalina Island, and he would fly me there personally on his private jet. And this was the guy who was hassling over a $199 condo inspection just five years ago!

Turns out that his father had died and he had inherited a commuter airline that transports military and civilians working for the military throughout California, Nevada, and Arizona. The cost to take the day off for just one home inspection over on Catalina Island was $1,999. He didn't bat an eye, argue, or anything else. Just told me to meet him at the airport the next day at 8:00 a.m. Great guy this time around, great house, great day trip to Catalina Island, great income for my bank account. Maybe having lots of money, but not too much like sports and movie stars, will cause you to change your attitude.

If you have a Client whom you think is just not worth it, do what my wise old grandmother would do: Kill 'em with kindness. Kindness goes a long way. If those Clients are in the past, make sure you follow up with them regularly.

Past performances are not always good predictors of future performance.

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