From the course: Good Accounting Practice for Businesses

Unlock this course with a free trial

Join today to access over 24,800 courses taught by industry experts.

Dealing with difficult customers

Dealing with difficult customers

From the course: Good Accounting Practice for Businesses

Start my 1-month free trial Buy for my team

Dealing with difficult customers

“

- Believe it or not, some customers can cost the company money, rather than make it money. And in this video, I'm going to explain why it might be better to let some customers go, even though this might seem to be counterintuitive. A few years ago, while establishing my accountancy practice, I was starting to feel a little bit rundown. I had the feeling that I was really working hard, but I wasn't making as much money as I thought I would be making for that amount of work. So what I did was I made a list of all my clients, and then I ranked them. I put them in order of highest fee to lowest fee. And then besides each client, I put down how much time I was spending on them. To my surprise, it turned out that I was spending 70% of my time on clients that were only contributing to around 25% of my turnover. That means that if I got rid of those clients, my overall income would only go down by 25%, and I would have 70% of my time back, and that time could be spent finding different, more…

Contents