Building Long-Term Client Relationships

Thousands of studies. Dozens of leading psychology researchers. Decades of experiments on why some people keep going when others quit… and I’ve boiled it down to the 7 biggest takeaways: 1. Action before motivation. Peter Gollwitzer’s work on implementation intentions shows that taking even the smallest step kickstarts a psychological commitment loop. Action fuels motivation more reliably than waiting to “feel ready.” 2. Make your goals specific. Locke & Latham’s Goal Setting Theory (over 1,000 studies) found that specific, challenging goals (“Run 3 times this week”) consistently lead to higher performance than vague ones (“Get fitter”). 3. Progress fuels persistence. According to the goal‐gradient hypothesis, motivation increases as we get closer to a goal. Studies in both animals and people show that small wins, like filling in progress bars or checking off steps, supercharge persistence. 4. Meaning beats willpower. Roy Baumeister found that willpower is finite, but Victor Frankl’s work on meaning and Kashdan & McKnight’s research on purpose show that a deep “why” sustains effort far beyond raw self-control. 5. Shape your environment. Wendy Wood’s research on habits shows that high self-control people don’t rely on willpower alone; they design their surroundings so the desired action is easy and temptations are out of reach. 6. Use social accountability. Harkins & Szymanski demonstrated the audience effect: people persist longer when others can see or expect their effort. More recently, Gollwitzer & Sheeran’s meta-analysis found that public commitments increase follow-through rates significantly. 7. Expect setbacks. Motivation oscillates; it’s not a flat line. Dörnyei’s process-oriented model outlines how motivation ebbs, flows, and needs recalibration. That shifting energy gives you data. And through it all, there’s one big takeaway: Stop waiting for motivation. Take action. Which one is most relevant for you?

Every week I meet three new LPs (investors in funds). Every week. Even when I am not fundraising. And... I never ever sell 20VC to them. Why? The single biggest reason VCs struggle with fundraising is they do not build relationships in between fundraises. They treat it like an on/off switch. This is wrong. You have to continuously build relationships and trust with LPs over time. I never sell 20VC to LPs. I understand what is important to them, what they like, what they do not like, how they think about building a venture portfolio. I then advise them. I try to provide as much value to them as possible, with nothing in return. I always get their Whatsapp at the end. Relationships are built, deepened and sustained when you get off email and onto Whatsapp. I also ask them, what three other LPs do you most respect? If I do not know them, I ask for an intro? Every week, I get 6-9 new LP intros from the LPs I meet. Lines not dots. Build relationships over time. Play the long game. #founder #funding #business #investing #vc #venturecapital #entrepreneur #startup

Deloitte’s AI scandal last week, where generative tools reportedly fabricated parts of client deliverables, is a credibility crisis for the entire Consulting industry. Clients are already asking: how often is this happening elsewhere, but going undetected? How many business decisions are already being made based on false, AI-created data and are we quietly entering a post-truth business world? Regulation can’t keep up, and there are no robust tools to monitor or verify what’s being produced. Governance frameworks are weak, internal controls are inconsistent and AI output is increasingly indistinguishable from genuine expert work. For an industry built on trust, rigour, and professional accountability, that’s an existential problem. AI can now generate polished, confident answers that seem correct and humans increasingly are relying on them without verifying whether they are accurate. As false citations, invented data and fabricated insights slip into official reports, the line between real expertise and AI-generated illusion blurs. The risk isn’t just reputational; it’s commercial. Clients will start asking why they’re paying premium fees for advice they suspect may have been written by a machine. Deloitte’s incident exposes a deeper truth: the value of consulting has always rested on trust. When AI makes knowledge universal and undifferentiated, that trust, and the human judgment behind it, becomes the only real differentiator left. As Mark Cuban said, “The only thing AI can’t do is say no.” In a world of synthetic content, AI-led distortion and instant “expertise,” genuine human connection is becoming the most valuable currency. The conversations, judgment calls and experiences we once took for granted are now the only things that can’t be automated and, seemingly too often, the only things that still make advice worth paying for.

I've been reflecting on one major trend from last year that I feel will be hard to ignore in 2025: Gen Z’s relationship with brands and social media. This generation doesn’t just consume content, they drive it. And they do so with a level of authenticity and transparency that demands our attention. For Gen Z, brand loyalty isn’t built on flashy ads or influencer endorsements alone. It’s about values. It’s about knowing what the brand stands for and aligning with causes they care about: be it sustainability, inclusivity, or social justice. Here’s how I’ve been thinking about this shift as an entrepreneur: For Gen Z, being true to themselves is really important. They want brands that embrace uniqueness and support personal expression. To connect with them, we need to be authentic and offer products and messages that let them express who they really are. Social Media is the New Word of Mouth: If you’re not engaging in the conversations Gen Z is having on social media, you’re missing out. They trust their peers and online communities more than traditional advertising, and their feedback is immediate and powerful. Experience Over Projection: For this generation, it’s not just about seeing an ad but engaging with a brand in a meaningful way. Whether through personalized experiences, interactive campaigns, or exclusive content, creating a connection is more valuable than ever. Gen Z is not just shaping the future of business but is redefining what it means to build loyalty and trust. Is your brand ready for this shift?

You’re on a discovery call. The conversation is flowing. Suddenly the prospect drops this question: “How are you different from your competition?” Your first instinct? Probably to jump in and explain: “We’re the only ones who…” “We have the best…” “Clients who work with us say…” But here’s the problem: when you’re explaining you’re convincing. And no one wants to be convinced. Why? Because prospects know you have an agenda. Of course, you’re going to put your best foot forward. Talk about your wins. Showcase your edge. But to them, it feels… self-serving. So what’s the way out? Instead of convincing, shift to understanding. Understanding starts with meeting them where they are—acknowledging what’s likely swirling around in their head. Like this: “I’m sure you’ve seen a lot of similar solutions, all promising the same thing. It’s tough to tell what really sets anyone apart.” And then—pause. You’re not selling. You’re empathizing. You’re showing them you get it—that you’re not just another salesperson with a rehearsed pitch. Here’s the magic: once people feel understood, they’re far more open to hearing you out. From there, you shift the focus away from you and toward them. “Different means something unique to everyone. Do you mind me asking, what does it mean for you, based on what you’re trying to achieve but haven’t yet?” And then you listen. Not with an agenda. Not with a mental checklist of what you’re going to say next. You just listen. Because your job isn’t to cram their head full of information about why you’re the best. Your job is to draw out their story. Why? Because people don’t buy because they understand you. They buy because you understand them. Buyers have the answers. Sellers have questions.

Jessica just got promoted. She’s no longer our contact. We lost a $120K account because of that one promotion. It still hurts and it’s the reason we now measure something I call the 'Champion Dependency Score.' Jessica was our champion on a $120K account. She knew our platform inside out, trained her team, fought for us at renewal. For 18 months, every conversation went through her. She fixed every problem and handled every renewal question. Her replacement? Had never even heard of us. Then came the email that made it worse: “Hi Kelly, I’m taking over for Jessica. Can you send me some information about what you do for us? Also, we’re reviewing all our software spend this quarter.” That’s when it hit me: we didn’t have a customer relationship. We had a Jessica relationship. The panic audit I did that night: Single Point of Failure Analysis for Jessica's account: - Who introduced us to the company? (Jessica: Yes) - Who runs internal training? (Jessica: Yes) - Who handles our invoices/renewals? (Jessica: Yes) - Who do we text when there's an issue? (Jessica: Yes) - Who attends our quarterly business reviews? (Jessica: Yes) Score: 5/5 = 100% dependency. We were in trouble. I checked the rest of our portfolio. Out of our top 20 accounts, 14 had scores over 70%. That’s $1.8M ARR hanging by a single person in each account. Three months later, Jessica’s replacement churned us. Despite our best efforts, they went with a “simpler” solution. Translation: no one left inside could explain why we mattered. That loss forced us to create the Champion Dependency Score: - 0–20% → We can survive a departure - 21–50% → Some risk, manageable - 51–80% → High risk — widen relationships now - 81–100% → Crisis mode — one change away from churn What we do differently now: - Every meeting: 2+ customer attendees - Map contacts in IT, Finance, End Users, Leadership - QBRs include the champion’s boss - Track “relationship breadth” as part of our health score The hardest lesson: The stronger your champion feels, the more dangerous it is. Jessica loved us so much she kept it all on her plate and when she left, so did our value. Now I ask my CSMs: If your main contact vanished tomorrow, who else would fight to keep us? If the answer is “no one,” you’re not managing a customer. You’re managing a single point of failure. Who’s lived through their own “Jessica moment”?

The agency world has 18 months left. Maybe less. Sir Martin Sorrell's S4 Capital just reported an 11.4% drop in Q1 sales - a canary in the digital coal mine. It's not just economic headwinds. It's not just Trump's tariffs. It's that your clients are quietly bringing work in-house. With AI tools. We’ve seen this very publicly over the past few weeks with Dualingo, Shopify and Klarna all taking an AI first approach. The reality today is: • A junior with Midjourney can replace multiple £50-£70K designers • AI can draft campaigns faster than your team (who’s reinventing the wheel every time anyway) • AI analytics outperform your insights department Sorrell, ever the optimist at 80, promises things will turn around in H2. But the trend is clear: brands don't need agencies for tasks they can do themselves with AI. So what's an agency to do? 1. Be brutally honest about what clients can now do in-house Don't sell services they can easily replicate with AI. 2. Double down on strategic thinking AI can't replace genuine business understanding. 3. Use AI in an advanced way Create demand by using AI tools to deliver more value. We've been teaching teams how to use AI effectively for 18 months. The results? They still need agencies - just for different things. The old model is dying: Creative concept → Design → Media plan → Traffic → Report The new model is emerging: Strategic insight → AI workflow design → Internal capability building → Outcomes Agencies need to go from fighting this shift to leading it. Follow me for more on navigating the changes in the agency and job market created by AI.

High-End Clients Don’t Find You They Hear About You By Elena Falconer In the rarefied world of luxury, visibility is not just about being seen , it’s about being spoken about in the right rooms. Luxury clients don’t scroll endlessly. They don’t search hashtags or compare prices. They listen. They listen to their inner circle, their trusted advisors, their personal shoppers, their inner concierge of influence. High-end clients are drawn by reputation, not reach. They are loyal to recommendations, to lived experiences, to brands and professionals who have earned the quiet endorsement of those already in their orbit. If you’re in the business of selling high-touch service , be it in fashion, hospitality, design, or private consulting , you must understand this: being discoverable isn't enough. You must be discussed. The Whisper Network of Luxury Referrals are the true currency of the luxury market. But not just any referral , elevated whispers that flow between private rooms, at members’ clubs, inside curated WhatsApp chats and at champagne intermissions. That kind of buzz isn’t created by loud marketing. It’s earned by delivering excellence, crafting extraordinary experiences, and knowing how to make a client feel deeply seen, understood, and subtly impressed. Are You Positioned to Be Talked About? Ask yourself: Is my brand aligned with the discretion and discernment of my ideal client? Do I provide such a tailored experience that my clients can’t help but tell someone? Have I activated my existing network to become my brand’s storytellers? Your visibility strategy should be rooted in intimacy and trust. That means: Collaborating selectively with aligned partners. Being present in the same physical and digital spaces as your dream clients. Designing offers that feel like an invitation, not a pitch. Create Moments Worth Repeating High-end clients are magnetized by details. From the handwritten note on the tissue-lined packaging to the way your team anticipates their preferences , these are the moments that get recounted at dinner tables and after-boardroom conversations. Every luxury brand story begins with a whisper. Make sure what’s being said about you carries the weight of excellence. Because in the luxury world, it’s not about being everywhere , it’s about being heard about in the right places.

One lesson that has served me well over the years: Don’t carry bad blood. In any long career you will be misunderstood. You’ll disagree. You’ll feel wronged. Sometimes even betrayed. Decisions won’t go your way. People will make calls you don’t agree with. The temptation is to keep score. But resentment is expensive. It clouds judgment. It narrows perspective. It limits future opportunity and is neither rational nor helpful. I’ve learned that making things right is both good relational practice and good business practice. Industries are small. Reputations compound. People you disagree with today may become partners tomorrow. And often, when you sit down and have the hard conversation, you discover the situation was more complex than you initially believed. There is real freedom in choosing not to carry offense. In picking up the phone and saying, “Let’s reset.” Over time, it builds a network of people who know you value relationships. Early in my career I valued results over relationships. Now, I know relationships trump results. Relationships are far more enduring and valuable than the near term results I used to favor. That’s good for business. More importantly, it’s good for the soul.

We recently turned down a $2k/month bookkeeping engagement. Yes, you read that right. A $2k/month client—we said no. Why? Because during the discovery call, they said: “We’ve worked with 5 bookkeepers in 2 years—none of them could keep up.” That was my cue to pause. When we looked deeper, here’s what we found: • No proper chart of accounts • Hundreds of unreconciled transactions across 6 bank and credit card accounts • Multiple entities blended into a single QBO file • No monthly closing process—ever In short: they didn’t need a bookkeeper. They needed a full-scale cleanup, new systems, and internal accountability. A few years ago, I might’ve taken them on—hoping we could fix it all with extra hours and some good faith. But we’ve learned the hard way: if a client doesn’t have the basics in place and isn’t willing to improve their process, no amount of hustle fixes it. Instead of walking away cold, we shared: ✅ A clear 3-step roadmap to fix their books ✅ Tech stack recommendations to streamline workflows ✅ Benchmarks for managing multi-entity reporting A few weeks later, the founder messaged: “We implemented most of your suggestions and things are finally making sense. Can we revisit working together next quarter?” We’re not in this business for short-term revenue. We’re in it to build long-term partnerships based on process, clarity, and trust. And sometimes, saying “not right now” is the most honest—and valuable—thing you can do.