As a business owner, you’re no longer sitting in your too-small cubicle waiting to be called to HR for yet another downsizing in yet another company.
No more being told when you can take lunch, make a personal call or, heaven forbid, go to the bathroom.
Owning your own business comes with lots of perks. One of them that is frequently overlooked however is that YOU now have the ability to let a client go.
Stop and think about that for a moment. As a business owner, you don’t need to take on every client that comes along and can *let a client go* if you want or need to. Isn’t that liberating?
“I need all the clients I can get. Why would I ever want to let one go?” you ask.
In order to make your business as profitable as possible, you need to ensure that your client relationships are a win-win for both you and the client. There are several reasons why you may want, or need, to let your client go.
Here are the top three scenarios in which you may want to consider firing a client:
1. They don’t pay you on time.
You are in business to make money, to provide for your family, to fulfill a need and be paid for doing so. You are not in business to spend your time providing services for another company (or consumer) for free.
If they are having a tough time *right now* and you want to hang in there with them, be sure that it is worth your time and effort and that *right now* doesn’t turn into months. Remember that you only have so many hours in the day to work on your business, use them wisely!
2. You cringe when the phone rings.
Some clients can just rub you the wrong way — often. These are the clients that, no matter what, drain you of your positive energy.
If you find you’re cringing when that certain client calls, if he always wants something for nothing, or if his ethics aren’t up to your standards, it may be time to part ways.
3. You are ready to move up.
Have a client who refuses to pay you what you’re worth while others are waiting in the wings?
If so, let him go and hire clients who are ready AND willing to pay you what you’re worth! I had a client back in the day who actually told me I should be happy he was paying me a small amount as he could give me *more* work that way.
Want to guess how long he lasted?
You want to work only with clients who appreciate you and know your worth.
You get the idea. Now that you are a business owner, remember that it goes both ways – not only does the client interview and hire you, but you also interview and hire him!
You can more efficiently manage your profits this year by spending some time reviewing your business AND your clients and letting go of those who no longer fit.© Copyright 2009 Sandra P. Martini