My client has gone because I have stepped away. Help!

Dear Aunty B,

I have just lost a major client, which is 20% of my business that I have had since day one. I have got to know his family, I have had dinners with his wife and we share a passion for surfing.

I have tried to move away from face-to-face dealings with clients and handed the relationship to a terrific guy here. But my client says the service level has dropped and he can get a cheaper deal elsewhere. I feel gutted and have since made sure I am working back on key client relationships.

How do I move away from the business and not go broke?

Leon,
Victoria

Dear Leon,

In your situation, I would make an exception for old clients that have been with you since day one. I would certainly not go to all the meetings but I would make sure I maintained a relationship. That means for a few hours three times a year you would go and see that client.

Look, your situation is very common. You have built the business on relationships and as the business evolves, you need to step away and work on the business. Those relationships should be handed over. But you know what? I reckon when I am running a conglomerate I would still make the time to go and visit key clients. One, I want the feedback on my staff. Two, I want the feedback on my products. Three, I want to know from them how they are changing. And four, I want the market intelligence. That all feeds into the strategy creation that you are doing.

So off you go. Back to the client. A big lunch and a nice discount will get him back. And while you are at lunch, sell him something else with a high margin.

Be smart,
Your Aunty B

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