Is It Ever the Right Time to Let Clients Go?
Source: RAN ONE
The following includes excerpts, reproduced with permission, from an article by Rick Solomon.
Breaking up is never easy, but it's something that I encourage accounting and business advisory firm leaders to do every day. Letting go of the wrong clients in order to provide better service to the right clients is a concept that sounds simple, but in practice, it's a challenge — as well as a tremendous opportunity for growth.
There's a huge opportunity to increase firm revenues in an expanded advisory role. Letting go of clients who are not aligned with the firm's goals frees the resources to easily engage in more profitable and rewarding work.
The idea of letting go of unprofitable clients challenges the “scarcity” point of view that many accountants hold. This self-limiting point of view basically says, “It's hard to find new business, and I'm better off keeping what I have, even if it's not great, because it's better than nothing.” The reality is many business owners are looking to grow and would welcome the opportunity to work with a proactive advisor who can help them achieve their goals. These clients would pay well for the support.
Make some time to evaluate your firm's clients, and leave behind the scarcity mentality. By lightening your load, you'll make room for more of exactly what you need for your firm's future growth.
Top five signs that it's time to let go
- The client is always complaining and never satisfied.
- The client is a slow or reluctant payer.
- The client does not seem to value or appreciate what you do.
- You don't look forward to seeing this client.
- You receive complaints from staff members who work with the client.
For the complete article, click here.
For additional ideas on “How to Win by Being a Loser,” click here.
From RAN ONE Americas, June 30, 2010, “When it's time to say goodbye: RAN ONE's Biggest Loser award recognizes firms that benefit from letting go.”
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