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What Businesses Need to Know About Dealing with Large Corporate Clients

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It is every business owner’s dream to finally land that large, corporate contract. However, it is only once you have taken on this client that you may realise what a precarious situation you have placed yourself in. After all, if you want your company to grow and thrive, you need to make sure that you are catering to this new customer. If all of this sounds rather overwhelming to you, don’t worry. There are a number of tactics that you can use to ensure that your client’s needs are met, every step of the way:

Make Them a Priority

This should go without saying but it does bear repeating, nonetheless. While you should certainly not ignore your other clients, it is also important to make your larger customers a priority. Keep in mind, these bigger companies often demand more in terms of time and resources. Therefore, if you wait too long to allocate them, you could end up derailing the project.

Instead, from the moment that you take on the client, be aware of what they are going to require. Then, make sure that they can access these resources whenever they need to. This is what will keep the ball moving in the right direction.

Allocate the Right Talent

With larger corporate clients, image is everything. Therefore, they will often judge the entire company based on the people that they are dealing with. This is just one of the reasons that you should always allocate your top talent to handle such customers.

Sending in the right people does have other advantages as well. Remember, not everyone can handle the pressures of dealing with domineering businesses. In addition to selecting people that are good at their jobs, you also need to have someone with the charisma and wit to take on such individuals as well.

Change Your Perspective

If you are only used to dealing with smaller clients, it is natural to imagine that you can handle your new customers in the same manner. Well, you would be mistaken. When taking on such clients, you have to shift your focus and start thinking in a manner in which they are accustomed to.

This includes what requirements and needs they might have regarding the project. At the same time, it could also be about realising that your clients are used to being treated in a different manner. For instance, there is a good chance that they have become accustomed to being carted around in the best business jets. Thus, you will need to meet these standards as well.

Make a Positive Impression

The last point to remember is that you will often have to wow your clients getting a learjet for rent for business trips and such. While this can feel overwhelming at times, remember that you are investing in your reputation. If this client is impressed with the way that you do things, they will be more likely to recommend you to their connections.

Of course, there is no need to go overboard with gestures. At the end of the day, you should be making a profit from these individuals. So, make sure that you don’t go over your budget.

These are the top things to keep in mind when you have landed a larger client and want some insight into how to deal with them.

 

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

The Canadian Press. All rights reserved.

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

The Canadian Press. All rights reserved.

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Thomson Reuters reports Q3 profit down from year ago as revenue rises

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TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

The Canadian Press. All rights reserved.

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