Firing a client is usually a difficult decision. Though, sometimes it’s the best course of action, it’s hard to let go of a lucrative relationship. But, when it’s intolerable, and not particularly worthwhile monetarily, moving on is generally the best. However, there are times when you might reconsider. If so, you’ll need to take certain precautions before committing to doing business again. Read on to learn more about how to determine if rehiring a fired client is really the right thing to do.
Most Common Considerations
Perhaps the individual has re-approached you with a plea to resume your working relationship. Or, you're attempting to rebuild your book of business after experiencing a negative impact from the pandemic shutdowns. Whatever the reason, there are, of course, some considerations you'll have to factor into your decision. These begin with trusting your gut instinct.
When you have a business, satisfied clients are essential to your continuous success. Knowing your ideal client and their particular needs is critical to your success. However, pursuing non-ideal ones can kill your business. It pays to be picky about which clients you choose to work with. --Entrepreneur.com
The little inner voice in your head can be an extraordinarily valuable tool. It's a resource in your consciousness that helps you to determine to take one action or another. So, definitely give it it's due because it will most likely point you in the right direction.
Also, you should take at least a little time to revisit your past with this individual. It's helpful to make a list of pros and cons, and then compare and contrast those with the relationship going forward, particularly if you're confident that things will be different this time.
What's more, it's worth warning that if you're doing this solely for the money, it's probably going to lead to another bad outcome. So, understand that you should have other valid reasons for re-establishing the business relationship.
How to Re-Engage an Old Client
Whether you're sincerely convinced that this person is committed to a new way of doing things, or you get a completely different feeling than before, these could be false positives. In other words, do not let the potential outweigh the reality. Fortunately, there are some precautionary measures you can take, like the following:
- Listen very carefully. You'll obviously talk to the individual about doing business again and this is a golden opportunity to listen carefully for telltale warning signs that it's not going to be a positive experience. So, when you do discuss your possible resumption of doing business together, listen and take some mental or written notes about his or her attitude, they are overall enthusiasm, and commitment to a mutually beneficial relationship.
- Talk to other businesses. Just speaking with the individual might not be enough to give you a clear picture. We've all experienced someone who has promised to change this or that, only to be let down. Take a little time to talk to other companies that are currently doing business with this individual and you'll probably learn quite a lot from those conversations. Just a little input from your peers could well be enough to help you make the right decision.
- Establish a clear trial period. Of course, If the previous experience was a negative one, you shouldn't repeat the mistakes of the past. Fortunately, because you have experienced this relationship before, you probably are very well aware of the frustrations. Use this information to establish a trial. And this way, your not setting yourself up for a big mistake.
What other suggestions do you have for dealing with previously bad clients as a business owner? Please take a moment to share your thoughts and experiences so others can benefit from your unique perspective!
Interested in learning more about business? Then just visit Waters Business Consulting Group.
Big Benefits of Business Coaching
May 16, 2017
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It takes a lot of determination, grit, and optimism to start and grow a business in today’s environment. The duality of the web is that you can broadcast further than ever before, reaching more potential customers, but so can your competition. The internet certainly changes the dynamics of business, but it’s not your only tool. You have more at your disposal, and for many entrepreneurs, they don’t look to much else. That certainly creates a problem, but it’s one that can be overcome, with the right attitude and mindset. Put another way, business owners succeeded before the advent of the web, and, those who are now growing do so making the most of what’s available. These entrepreneurs understand that ultimately, business is all about people, and, having the advice of an experienced professional does so much. The Big Benefits of Business Coaching You’ve heard about business coaching but might wonder why companies utilize their services. One advantage is gaining insight into what growing a company looks like from someone that’s been through the process time and again. Often times, companies lack experience in dealing with problems not faced before. They simply don’t know where to begin, or, what tack to take. Business coaching is not just for entrepreneurs with small to medium sized enterprises. In fact, studies have shown that over 58% of large corporations have expanded their use of business coaching over the last few years. Why? Because it works. —Enterprise Hub That’s a really a bad place to be and decisions made with uncertainty rarely have good outcomes. It’s not just fear that fells companies and alters their direction, but also, lack of preparation and not having an adequate, workable system in place. There are still more reasons companies benefit from business coaching, including the following: Organization and time management. A huge problem for most business owners is that so many things compete for their attention. That can easily lead to becoming disorganized, and, to poor time management. With someone helping to set priorities, schedules, and boundaries, a lot more will get done with the most important tackled at the right time, with limited distraction. Setting achievable goals to build momentum. One thing that can weigh down a business and get an entrepreneur stuck is lack of achievement. The reason material is taught in a incremental, tiered fashion, practically no matter the subject, is because it works. People are naturally motivated to reach other goals when they’ve had success. Sure, there is always the possibility of failure, but when it has a small impact, it’s a lot easier to overcome. Making team members accountable. A hobgoblin of business is one the wreaks havoc both subtly and overtly: little to no assigned accountability. For team members, as well as owners, to be truly productive, creative, and deliver their best, everyone in the organization needs to be held accountable. The trouble with this scenario is those on the inside usually have difficulty seeing the forest for the trees. Put another way, it’s hard to assign accountability to each team member because you’re dealing with personalities and emotions. A third party will have a much more clear view. Smart financial projecting and planning. It’s not easy to make financial projections and plan for the future when you’re trying to run a business. While you likely have a grasp on potential, there will be contingencies. Here again, having an experienced hand will take off pressure and keep you from diluting the numbers for a variety of reasons. Creating a better, more open environment. When everyone in the organization feels valued and is encouraged to contribute creatively, there’s a lot of good that will come as a result. Tapping into those resources must be done in a positive, proactive, and genuine way. [shareaholic app=”follow_buttons” id=”26833294″]
