Executive Briefings

With Economy Beginning to Recover, It's Time to Determine Which Clients You Need to Get Rid Of

A wake-up call is speeding your way. If you trust the stats, the recovery is lurching forward. Customers are tentatively opening their wallets. The question is: Does this translate to profits or just revenue offset by costs? Sure, it's hard to earn a buck these days. But when was the last time you looked closely at your book of business? No, I'm not talking about account growth and targets.

I'm talking about the three Ps. Is the customer profitable? Are you still proficient at the work? Do both still rank as a priority?

Dropping clients is never easy. And right-sizing afterward is even harder. Nevertheless, you can't ignore facts: Some clients' best days have long passed. To position yourself for a recovery, you must align your structure and expenses. So which clients should stay and which should go? Ask yourself if the troublesome customers are affecting your business in adverse ways.

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A wake-up call is speeding your way. If you trust the stats, the recovery is lurching forward. Customers are tentatively opening their wallets. The question is: Does this translate to profits or just revenue offset by costs? Sure, it's hard to earn a buck these days. But when was the last time you looked closely at your book of business? No, I'm not talking about account growth and targets.

I'm talking about the three Ps. Is the customer profitable? Are you still proficient at the work? Do both still rank as a priority?

Dropping clients is never easy. And right-sizing afterward is even harder. Nevertheless, you can't ignore facts: Some clients' best days have long passed. To position yourself for a recovery, you must align your structure and expenses. So which clients should stay and which should go? Ask yourself if the troublesome customers are affecting your business in adverse ways.

Read Full Article