How To Know It’s Time To Let Small Clients Go
If you’ve just started your business you embrace all your clients. You value them and try to take care all of them no matter what their size is. As you grow bigger it is sometimes inevitable that you need to let some of your smaller clients go. It is usually not about the business they bring to you but the time you can spend with them. Here are some signs that you need break up with your smaller clients.
Not Earning Your Worth
It’s good to audit clients from time to time. Auditing does not only involve the amount you bill your clients but also the time you spend on their account every month. You know it’s time to let them go when there is an imbalance with in the time you spend on them and the amount you are paid. In most cases the least lucrative account usually takes up a lot of time. When you see this happening to some smaller clients, you most probably need to break it off.
Business Practices No Longer In Line
As businesses grow it’s quite possible to drift apart not only in terms of relationships but in business practices. You and your client may have started out with the same beliefs and practices but as you evolve as separate entities it is possible to form different views and change. Drifting off to different directions could be a sign that it’s time to let go.
Spending Less Time On Their Account
It is inevitable to spend less time on smaller clients as your business continues to grow. If you fell that you don’t give small clients the time and attention they deserve then they will probably benefit more from firms that can give them full attention. Let them go gently to preserve your relationship by referring them to a company that you know will treat them better.
When you’ve been in business a long time you sometimes get close to your clients. You go to each other’s parties or visit each other’s homes. You probably even know the names of all their children and their ages. When your client starts to feel like family or when you get too close for comfort it could make it hard for you to make business decisions for their behalf. Another good sign is when you can’t make decisions without emotions. Finding yourself mixing business with pleasure is also another sign.
Letting clients go can be a hard chore to do, however the above stated situations are practical and calls for action on your part. Once you identify small businesses that need to be let go it will become easier to run your business and healthier for the state of your company in the long run.