Business relationships are a two-way street. Products, scope, price, timing – these are the prominent elements. But what about values?
When boundaries are crossed, agreements crumble. This is true for theaters and businesses.
Here’s a provocative thought: As a contractor, why not fire clients who don’t uphold their end of the bargain?
Arrogance, disrespect, difficulty – these shouldn’t be tolerated. They’re not just annoyances; they’re violations of the unspoken agreement.
Fred Reichheld, creator of the Net Promoter Score, found that companies with the highest customer loyalty grow revenues at more than twice the rate of their competitors.
But loyalty isn’t just about retention. It’s about alignment.
By firing problematic clients, you:
- Energize your team
- Show that people matter more than profits
- Increase motivation
- Improve overall result
A study by Gallup found that companies with engaged employees outperform their competitors by 147%. Problematic clients, create disengagement disproportionately.
As Peter Drucker said, “The purpose of a business is to create and keep a customer.” But not just any customer – the right customer.
Are your client relationships truly symbiotic, or are some parasitic?
Sometimes, addition by subtraction is the most potent math in business.
Rethink your approach to client relationships and clarity upfront on what you both expect and require is necessary, including values.
