Apparently, firing toxic clients is still controversial
A couple of my long term readers even unsubscribed.
If you recall it was about the client who thought that since they engaged me that I was now on their payroll and beck and call 24/7 .. 365 days a week.
Naturally I fired that client to invest my time in better clients and the results were much better.
Why though did the idea of firing a client cause people to unsubscribe?
Think it’s naive? Unrealistic? That firing clients will tank your business? It won’t.
In my trading days in institutional FX we had a young trader who was extremely difficult to deal with.
We essentially fired him by ignoring him.
The boss didn’t like it but even he grew exasperated with this client and told us to do what we thought was best.
So we took a short term revenue hit but used the time we were wasting on this guy to build and create new relationships.
Our desk hit higher revenues.
And this trader moved to another area of the bank
(funny epilogue.. he grew up, got married, chilled out and actually became a very pleasant guy to deal with when I crossed paths with him years later).
So ask yourself.
Do you have any clients who are doing a perverted 80/20 rule on you? Wasting 80% of your time for less than 20% of your revenue?
If so, fire them and invest that time in better clients.
Because no client is worth selling your soul, your sleep, or your sanity
After all, revenue can be replaced….
Your time and peace of mind cannot.
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P.S. I’m not the “systems guy,” “process guy,” or “finance guy.”
I’m the “build a valuable business” guy—so you can regain the freedom to start living your best life now and exit on your own terms later.
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