I lost my biggest client! For some reason, I had the mindset that this one was going to be with me / the company for a very long time. So when he emailed notifying me of his 30-day notice, it hurt. No, really, it hurt BAD! I was in a funk for a couple of days!
We have all been there – a large depositor changes banks, a large conference goes to another city, a large company uses another supplier. It stings!
But, as I realized late that second day, we have two choices, wallow in our sorrow, or buck it up and move on! I started searching for motivation and advice.
Losing your biggest client can feel devastating, whether your company is big or small. But it doesn’t have to be, says Brent Gleeson in Inc.
Remember, says Gleeson, no business has a perfect record when it comes to retention. Even your best customers will eventually move on at some point, and not necessarily because of a lack of performance on your end. When you come to terms with this reality, you’ll be better prepared for when it happens.
You celebrated when you landed that big account right!? Losing a big client is never fun, and much less than ideal for your bottom line, but it’s as much a part of business as landing a dream account. Karen Fireston, Harvard Business Review
Want to get really deep?
…if you end up with a really big customer and lose them, it’s vital that you train your mind to respond in a productive way. When a company loses their biggest customer, most people go into a state of fear and panic. Unfortunately, this puts you in fight or flight mode, shutting down the pre-frontal cortex of your brain. This matters because that is your creativity center and you need it for coming up with the best solution. The most important thing you can do when things don’t go as planned is to get back into your creative mindset. This will put you in an optimal state for problem solving rather than being stuck in fear. Vanessa Loder, Forbes
That’s step number one when you lose your biggest customer – get back into your creative mindset. Jump into a creative project you are working on. Strategize creative ways to attract new customers or re-connect with past customers. Do a pro bono project or two for a non-profit or church. But, stop, breathe, keep calm and get back into your creative mindset.
Many more tips to come. I have compiled quite a few good ones and will keep sharing!
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