If any of you subscribe to BusinessWeek Small Biz magazine and saw the Oct/Nov issue you saw the headline: The Customer is always right – how to fire that client! If you recall I have been advising business owners to go through their customer and client base at least once a year and fire clients or customers that are costing you money and causing you aggravation and stress.
It is almost the end of the year and the economy is not really booming right now so this is more important than ever to the livelihood of your business. Take the time before Christmas and go through your most past due accounts or the accounts you spend the most time on. Is the time spent on those accounts justified? Is it worth your while to continue to spend so much time on a few accounts that can’t seem to pay you on time or in full?
How many customers do pay you on time or in full? Wouldn’t you rather have more customers like that?
If you answered yes, now is the time to weed out the customers you just don’t want. Susan Price, the editor of BusinessWeek Small Biz knows that the customer is always right is fiction. If you have customers or clients that are so demanding that they are wearing you out and your staff give them the boot!
As a new entrepreneur it is a common mistake to take any customer you can get, after you have established yourself and your business, you no longer need to have that mindset. Be pickier about the customers you have, raise the bar and you will have better paying customers and make more money with less headaches. Not every client can be your favorite, says Amy Barrett, who wrote “When, Why, and How to Fire That customer, getting rid of unprofitable, the time wasters, and the crazy-makers in your midst. Take her advice and make the coming year more profitable with less stress!
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