The Break Up: what to do when your biggest customer leaves
A few years ago I got an email saying ‘we need to talk’. When it’s a girlfriend you know what this means, but to my knowledge we just had a business relationship. This was our biggest customer by far, and the news couldn’t be good. When I heard the words I knew were coming, my heart still skipped a few beats. What does this mean for the company? Will I need to let go of some staff? How will we survive?
Reassuringly, we realized a long time ago that you can be the best company in the world, have personal relationships all over the place and deliver incredible services and still lose business for one menial reason or another. It’s a reality of doing business, and I think most business owners realize their vulnerability when one client brings the lion share of revenue. To prepare for this reality is quite another thing though.
Read more on financefeeds.com