Unhappy Money: Is Easy Business Really Worth It?

At which point is a problematic client not worth working with anymore? Where do you draw the line with clients who consistently cause undue stress? Whether the issue is a lack of boundaries, a lack of respect, or a lack of direction, working with an unorganized or demanding client not only negatively impacts your mental health, but also that of your team.

Working with a client you do not get along with can quickly turn the passion you have for your business into dread. Even if the client brings in a healthy dose of revenue, they can also provide a sense of uncertainty regarding the future of your relationship.

With the new year upon us, now may be the time to make a change and let go of clients who are proving to be more trouble than they are worth. Below are a few tips on how to tell if and when you should start working to replace unhappy money with client relationships that are more sustainable and rewarding.

Consider Your Favorite Clients

What are the common factors that unite the clients you love working with the most? Who represents the best of the best?

5 common signs of a healthy client relationship may include:

1. Ideas flow freely between you and the client

2. Collaboration with the client feels easy and natural

3. Your benchmarks for success are higher than other clients

4. You can rely on the client for consistent business

5. You can envision a stable future working with the client

Create an ideal client profile that includes the traits and values you admire most from your current clients. Reference this profile when seeking out new prospects and narrow your search to the industries, markets, and platforms where these potential clients are most likely to be found.

Determine Your Positioning

Is your organization currently in a position to attract the client of your dreams? Consider the incentives you are offering to prospective clients to help draw their attention. Focus on meeting their wants and needs, addressing their potential pain points, and the ways in which your services help differentiate your firm from the competition.

If possible, consult with your current clients to gain a better understanding of what they value out of your relationship. Exceptional service? Affordable pricing? Consistent performance? Lean into the elements of your firm that would best speak to your ideal client and adjust your team’s sales pitch and process accordingly.

Share and relay information about your ideal client with your current clients and referral sources, so that they are better equipped to send referrals that best match what you are looking for.

Discuss Strategy With Your Team

Share your ideal client profile with your team and open a dialogue to allow them to share their perspective on the matter. Encourage your team to speak openly and honestly regarding their experiences with clients. Which clients do they enjoy working with and interacting with the most? Are any current clients hurting their overall performance?

Allow your team to share their own ideal client profile and potential strategies to better attract new prospects who fit the bill. Collaborate with your salespeople to determine the best ways to attract your ideal client through your marketing channels, as well as in-person networking events.

Reach Out to Past Prospects

Still thinking about an old proposal and prospect from the past? Resist the urge to forever close the book on missed opportunities from months, if not years, gone by.

You may be surprised to discover that certain prospects may be willing to give you another opportunity to work with your firm. Poor timing or a lack of proper follow-through may have resulted in a lost connection, but where is the risk in reaching out once more?

A revised sales process may attract a prospect who, in the past, may have expressed disinterest in your services. Allow past mistakes and missed opportunities to better inform your firm’s future sales strategies, even when communicating with those prospects you once thought were lost.

Attracting the right clients starts with implementing a proven, repeatable sales process, as well as leveraging the tools and team members already at your disposal. Reach out to our office today to learn more about how our fractional leadership services can empower your firm by delivering unique and effective sales strategies catered specifically to your needs.

Get in touch with our office today to discover how we can help you understand who your best clients are and how to attract them to avoid making unhappy money. Call Sebastian Lane Consulting at 443-534-6783 or email us at jesse@sebastianlaneconsulting.com.

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