All, Fix Company Problems

How to Fire a Client

Every entrepreneur will eventually fire an employee or severe a relationship with a supplier or vendor. These are the most common scenarios we associate with pink slips and the practice of doing business. However, there’s another we don’t often think about, or, only privately suffer because it’s difficult to own-up to a mistake. In this particular situation, you’ll have to fire a client and it can be very difficult to face. You must consider the financial impact, and, the dynamics [read: pain point] it will unleash on your business in the aftermath. You might be confronted with a negative review, an unpleasant back-and-forth, or even a total disruption of your business workplace.

Ways to Fire a Client

With the new year fast approaching, you’ve probably begun to focus on your personal and professional resolutions. One of them could very well be to purge toxic relationships, which include bad clients. These can be individuals who love to demand rather than delegate, micromanage work to the point there’s no real point someone else does any of it, insists on rushing which compromises quality, or other detrimental behaviors.

When you are just getting started with your business, you’re probably willing to work with any and every client who comes your way. However, not every client is a good one. The emotional, physical, and mental drain caused by a bad client relationship can keep you from enjoying your job and negatively impact the work you do for other clients. At times, the best way to grow your business is to let go of those clients who are holding you back. —Forbes.com

It could be a well paying client who has a penchant to promote pandemonium, one who expects deep discounts but superior work quality, wastes your time without remorse or even any acknowledgement of it. You know who he or she is because you dread any contact and even the sight mention of his or her name is enough to make you cringe. Still, you put-up with their bad conduct because you feel a sense of loyalty.

So, how are to you end such a relationship? Start with some genuine, introspective soul-searching. Is it something that you’re taking offense to that’s more about your personality? Are you contributing to the chaos with your own behavior? If you’re honestly not part of the problem, then try to resolve the situation first. Approach it subtly, but earnestly, and see what happens. If this doesn’t work, there are ways to fire a client and depending on the situation, one will probably be the best solution:

Inform the client you are refocusing your efforts. Every new entrepreneur will accept any type of work when first starting out, even if it’s not a strong-suit. At this early juncture, revenue flow is a top priority. However, it undermines and erodes the relationship over time. Use this to your advantage and explain how you are not serving his or her best interest. Point this out and gracefully bow-out.

Announce to the client you have to raise your rates. Money is a big deal — make no mistake about it. You know it to be true as does the professional who’s always espousing the healthy attributes of professional relationships, giving back to the community, good will, and the like. While those are indeed wonderful things, money is a practical part of business and announcing you’re raising your rates might just be the nudge which sets you free.

Give him or her options for other service providers. Explain you are moving in a direction to serve a specific subset of your clientele. Along with it, give him or her options, recommending different competitors.

Manage his or her expectations by providing actionable steps. Some clients will resist ending the relationship at nearly any cost. They’ll make promises about changing their behavior, bringing you more business, or other saving graces. Since you want to sever the relationship cleanly and permanently, provide a list of actionable steps he or she can take without your assistance.

If you aren’t necessarily dealing with a problem client, just one who is no longer profitable, but still pays on-time and is good-natured, speak with less expensive, alternative service providers and give them the business. This creates a win-win scenario for all parties.

In my past businesses and as a business consultant and coach, I have experience in each of these circumstances with customers and clients. I have found that the best approach is an honest approach with a strong dose of caring and encouragement. So, what customers will you fire or have that crucial conversation with in 2016?

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4 Foolproof Ways to Write Better Emails

March 23, 2018 No Comments

If you’re in business, regardless of your role, you need to know how to write good email. Let’s face it, email isn’t going away any time soon. We use it on a daily basis. And, it’s a great way to communicate on-the-fly. It also helps make organization easier. This technology is an effective one — if you use it right. The trouble is, too many people just don’t write good email. But, don’t worry, it’s super-easy to improve by leaps-and-bounds. In Business, Electronic Communication is Key There’s no getting around the fact that email is a critical business tool. It can easily be used for more than just day-to-day communication. After all, like social media, it’s also a powerful marketing tool. That’s why there is a bazillion email newsletter templates floating out there in cyberspace. Make no mistake about it, communication is key in business and email should make it all the more easy. The ubiquity of e-mail means that everyone in business, from lords of finance to programmers who dream in code, needs to write intelligently. By using simple, clear, precise language, and following a few other basic writing rules, you can become a better communicator and improve the prospects for your career. —Forbes.com The problem is, far too many people just don’t use it in the most practical manner. Now, that doesn’t mean every single message needs to actually be a work of art. But, it does mean, the more you make a habit of some good practices, the better you’ll become over time. 4 Foolproof Ways to Write Better Emails We all like the notion of “inbox zero.” That place where we’ve gone through every message and taken the appropriate actions. But, with so much, it’s often difficult to get to every single message. And, it’s even more difficult to write in a way that makes the most out of the medium. So, here are four foolproof ways to write better emails: Keep it short. There’s no need to go into painstaking detail. The longer the message, the less effective it becomes. You need to deliver your message in a quick manner so it doesn’t waste the recipient’s precious time. Always be direct. Limit the adverbs and adjectives. Keep them to a minimum because the more “flowery” the wording, the less clear (or boring) it is to the reader. Now, you can explain but be direct. Army service members call this strategy “BLUF”, which simply means “bottom-line, upfront.” Reread your message. Never hit “Send” without re-reading your message — at least twice. Don’t rush through it. Take advantage of the spell check and ask yourself if it gets your meaning across. Add the recipient(s) last. When you compose a message, be sure to leave the recipient field blank. And, don’t add his or her email address until you’ve written it entirely, and reviewed it twice. This way, you’ll avoid sending it out accidentally with errors (or without being clear). What other suggestions do you have for writing good email messages? Please, share your thoughts and experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Deal with a Business Partnership that’s Going Bad

July 6, 2023 No Comments

Business partnerships are often formed with high hopes and mutual goals. However, sometimes partnerships encounter challenges and start to go sour. Dealing with a failing business partnership can be emotionally and professionally challenging, but it’s essential to address the issues head-on and explore potential solutions. How to Deal with a Business Partnership that’s Going Bad Since this is such an important issue, we’ll provide some advice on how to navigate a deteriorating business partnership, including strategies to address problems and steps to take if the partnership cannot be salvaged. Communication is key. Effective communication is the foundation for resolving issues in a failing business partnership. Schedule a dedicated meeting to openly discuss concerns, frustrations, and areas of disagreement. Allow each party to express their thoughts and actively listen to understand the other’s perspective. Create a safe and respectful environment that encourages honest dialogue and promotes problem-solving rather than blame. Identify the root causes. To address the problems in your partnership, it’s crucial to identify the underlying causes. Pinpoint specific issues or challenges that are affecting the partnership’s success. These may include differing visions, incompatible work styles, misaligned goals, or a lack of trust. By identifying the root causes, you can develop targeted strategies to overcome or mitigate them. Seek mediation or professional help. If communication alone doesn’t resolve the issues, consider engaging a neutral third party, such as a mediator or business consultant, to facilitate constructive discussions. A skilled mediator can help navigate difficult conversations, find common ground, and offer unbiased guidance. Additionally, seeking advice from an experienced business coach or consultant can provide an objective perspective and help identify strategies to improve the partnership dynamics. Renegotiate terms and roles. If the partnership is salvageable, it may be necessary to renegotiate the terms and roles to address the identified issues. This could involve revisiting the partnership agreement, clearly defining responsibilities, and setting realistic expectations. It’s crucial to find a compromise that considers the needs and aspirations of both parties, ensuring a fair and balanced arrangement moving forward. Establish a clear communication and conflict resolution protocol. To prevent future conflicts or misunderstandings, establish a clear communication and conflict resolution protocol within the partnership. Define guidelines for regular check-ins, decision-making processes, and conflict resolution mechanisms. This creates a framework for addressing issues promptly and constructively, fostering a healthier partnership dynamic. Consider an amicable dissolution. Despite efforts to resolve the issues, there may be instances where the partnership is no longer viable. In such cases, it’s important to consider an amicable dissolution. Evaluate the financial and legal implications of ending the partnership and consult with an attorney if necessary. Develop a plan to separate assets, liabilities, and ongoing responsibilities in a fair and equitable manner. Learn from you experience and move on. If the partnership fails, it’s essential to view it as a learning experience and an opportunity for growth. Reflect on the lessons learned, including the warning signs that led to the partnership’s deterioration. Take the knowledge gained and apply it to future endeavors, ensuring better decision-making and partner selection processes moving forward. Dealing with a failing business partnership can be challenging, but addressing the issues directly and honestly is crucial to finding a resolution. Effective communication, identification of root causes, seeking professional help if needed, renegotiating terms, and establishing clear protocols can potentially salvage a partnership. However, if the partnership cannot be salvaged, an amicable dissolution may be the best option. Remember to learn from the experience and use it as a stepping stone for future business endeavors. Ultimately, the key is to prioritize open communication, respect, and the long-term success of all parties involved. What other suggestions do you have for dealing with a business partnership that’s going bad? Please take a moment or two to comment with your own thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group to learn more about us and the services we offer.

Most Tactful Strategies for Pushing Customer Deadlines Back without Upsetting Them

May 31, 2022 No Comments

As a business owner, you know that sometimes things come up that prevent you from meeting a customer deadline. Maybe there was an unexpected delay in getting the product or service finished, or maybe your team just got swamped with work. Whatever the reason, pushing back a customer deadline can be tricky business. You don’t want to upset them and lose their business, but you also don’t want them to feel like they’re being ignored or getting something that appears rushed. So, let’s discuss some of the most tactful ways to push back deadlines without upsetting your customers. Best Ways to Push Back Client Deadlines and Still Make Customers Happy One way to push back a deadline without upsetting your customer is to provide them with regular updates. Let them know what’s going on and why the deadline can’t be met. Customers appreciate transparency, and they’ll be more understanding if they know what’s going on. You should keep lines of communication open and stay in touch regularly. Don’t make the mistake of updating your client once and then going silent – it will only cause more problems. Missing a deadline is something that happens even to the best of us. Whether you got sick and couldn’t finish your tasks on time or the project took you much longer than expected, one thing is clear – you’re about to miss the deadline and need to communicate it to the client. —Simone Smith on Brain Leaf Another way to push back a deadline without upsetting your customer is to offer them a discount or some other type of compensation. This shows that you value their business and that you’re willing to go the extra mile to make up for any inconvenience. This doesn’t have to be a deep price reduction, but enough to show him or her you’re aware of their time and budget and are appreciative of their patience. Finally, one of the best ways to retain customers even when deadlines can’t be met is to provide excellent customer service. Be responsive, friendly, and helpful, and try to resolve any issues as quickly as possible. If you make an effort to take care of your customers, they’ll be more likely to stick with you even when things don’t go according to plan. Pushing back customer deadlines can be a delicate process, but if you handle it tactfully, you can retain your customers and keep them happy. By following these tips, you’ll be able to push back deadlines without upsetting your clients. It is of utmost importance to be honest with your customers, be upfront as soon as the situation changes, and be willing to accept some criticism. If you handle the circumstances with professionalism and tactfully, they’ll be far more willing to accommodate you and will greatly appreciate your candor. What other suggestions would you make about dealing with pushing client deadlines back without angering them? Please, take a moment to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.