A Graceful Good-Bye
It is never easy to say good-bye. Leaving behind clients or vendors may be complicated and liberating at the same time.
When you own your own business, you should take inventory of your clients each year. An annual review of what they bring to your business is key to moving forward profitably. This exercise is necessary to determine which clients are profitable and which are not. It is an excellent time to rely upon your Circle of Trust Accounting Advisor. Ensure you understand each client’s profitability or lack thereof to your bottom line.
If you find there is no community reason to keep on an unprofitable client, it is time to say good-bye. Be honest with them and either recommend how they can be a profitable client or recommend a cheaper competitor that might be better suited to their needs. it is a delicate balance but unless you are a not for profit, companies and individuals should understand that you are in business to make a living, something that cannot be accomplished with unprofitable accounts.
Leaving behind vendors may be a bit easier than exiting a client. But providing them with an understanding of why you are leaving can be a worthwhile, albeit painful, learning experience for them. Their reaction will tell you a lot about their character.
Departures on either end may be uncomfortable. But those who show grace in the exit are those that will be most likely remembered for any future recommendations or work.
Ask why someone is leaving you so you can assess if you need to tweak anything on your end or analyze if the reason requires an adjustment to your service or product array. And, by all means, say thank you. Thank you for the past business, thank you for the past assistance, and thank you for being honest for what is no longer working. To not acknowledge the worth or value of past interaction will be remembered and not in a positive manner.
The professional world can sometimes be very small. Be aware of your reactions to corporate relationships ending, they may very likely define you character for years to come.
Be like our Doodle featured in today’s photo. Exit with grace and look back fondly on the value that was once provided and move forward with sincerity and an open mind. You never know when your paths may cross again.
Be well.
