Most business owners don't realize that client retention is the most important thing when it comes to growing their businesses. It's difficult to sign a new client, but it's much more difficult to keep one.
When you sign a new client, they're skeptical of you. They may already have some of trust for you and your business, but you haven't had the chance to prove yourself to them yet.
You should be doing your best to gain the trust of new clients so that you can retain them for as long as possible. Having a client pay you $1000 every month for a whole year will allow you to pocket $12,000.
Alternatively, you could close the deal with 5 new clients for $1000 each, but if you lose them all within a month, you'll gross $5000 from those clients for the year instead of $12,000 from that one client you could have retained.
This is why it's important to bring value to the people you work for. You should be constantly providing time and value to your clients. You should produce and deliver the best work possible.
Business is about forming deep and meaningful relationships, not closing a series of deals
as fast as possible. If you take the time to build strong relationships with a few clients, they'll become the foundation that allows your company to grow.
Having 3-5 great clients that stay with your company for a number of years is much better than having 20 clients that could leave at any moment. 3-5 loyal clients can cover your operating costs (and more) so your company doesn't go bankrupt if you have a bad sales month.
You should treat your clients with respect. Keep your relationships professional, but treat them like family so that they're getting a service or product they can't get anywhere else.
Build meaningful relationships and don't neglect the people that are growing your business.
Good luck with your business pursuits and keep growing!