Not all customers are good customers. Bad clients can eat up valuable resources—time, energy and money. So how do you know when it’s time to end the relationship between you and a client? D.I.T.C.H. them.
Debtors: Debtors never pay on time and always owe money. They waste your time and energy trying to track them down for payment. Don’t listen to excuses like their check is lost in the mail. You are running a business, and business has rules.
Integrity issues: Integrity is a must for business leaders—the same goes with customers. Nothing good comes out of conducting business with liars, plus they can damage your organization’s reputation.
Time-eaters: Running a business takes more than just investing your money; it requires an investment of your hours. Ditch the customers who continuously eat up your valuable time with ever-changing needs, and the overly needy customers who are never satisfied. Your days will be better invested in acquiring new—and better—clients.
Cranky customers: Never tolerate abusive and disrespectful customers. These types of people cause scenes that ruin the experience of your other customers. Nobody has the right to disrespect you, your employees or other customers, and those who act uncivilized should be quickly shown the door.
Hustlers will quickly drain your time and profits. These customers always want things for free or deep discounts. Hustlers are not high-volume customers and hold no strategic long-term importance; therefore, providing deep discounts will not lead to an increase in business later.
This article appears in the July 2015 issue of SUCCESS magazine.