It may sound crazy, but it might be time to “fire” some of your clients.
Business owners should value quality over quantity when it comes to their client and customer lists. Good clients should make you excited to work for them. They should be pleasant to collaborate with. And they should always pay you what you’re worth.
Clients who don’t meet all three criteria might be candidates for your chopping block. To weed out the bad ones, start by listing them in descending order of revenue. Think about other good qualities, such as who pays quickly, who communicates well, and who refers you to others. Then assign each client a grade from A to F. It’s probably time to say goodbye to low-revenue clients with lackluster grades. Cutting back on clients may seem counterintuitive. Just remember: more isn’t better. Better is better. For more advice on how to build your business, check out our Instaread on The Pumpkin Plan.