How To Deal With The Loss Of A Job – You may be reading this article because you searched the Internet for how to deal with the situation you found yourself in this morning. Or maybe you’re still reeling from the phone call you received yesterday from your biggest client.
However, you may be one of the lucky ones reading this who hasn’t lost a client. Not yet, at least.
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Because, mark my words, this cold, hard truth will rear its ugly head at least once, if not more, in your career.
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Sometimes a client leaves through no fault of your own. Other times it’s entirely up to your organization. Often it is a combination of the two.
A pity party about the client’s decision will not help you in your situation; There is reflection and action. Any salesperson who has been in the game long has been in your shoes. It’s not fun. But losing your biggest customer doesn’t have to be the end of your sales career or your company.
Here are five essential steps you can take to turn the loss of your biggest customer into an even bigger opportunity for your company’s future.
Even if you feel like they ended your relationship, thank them for their business during your time together. Let them know you appreciate them as a customer in a classy way, and take the opportunity to do two important things that most people neglect during this time: maintain a relationship and ask for feedback.
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This particular farewell need not be permanent; In fact, some business relationships reconnect after the new vendor/client relationship does not meet the standard the client believes they should receive. Use this opportunity to keep the door open by understanding that there are areas you want to improve before your organization can work together again.
Don’t sugarcoat the news when you break it to your team. Let the client know directly that they are leaving, the reasons (if relevant) and, most importantly, what you intend to do about it now. Trying to minimize the blow can cause internal chaos with your team. It is important to address this issue together with your team.
Share your plan with confidence and explain that the team is confident it will bounce back and use this as a learning experience moving forward. Let them know that you will use this time together to improve your organization, lines of communication and service offerings with all clients. Make sure your team believes as much as you do that your company will bounce back from this.
Teams look to their leaders for confidence and security in times of stress and discomfort. Even if you’re trying to figure out a new plan behind closed doors, give it to them.
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It’s easier to grow your business with your existing customers than to spend heavily to try and acquire new ones – but prospecting is important too. Take this opportunity to review your current client list. Assess each individually, looking specifically for areas where your organization can improve communication, the overall relationship, and potential new areas for growth.
You can also review each client’s current business with your company to see if there is an opportunity to grow the relationship with additional offers and upsells. These transactions are especially beneficial because they build on your already established working relationship.
What better way than to invest your unexpectedly available time into new business development? Use the hours you previously committed to a former customer to research, appraise and call potential new clients.
The immediate upside to losing a client is the bandwidth you and your team get back — bandwidth that can be wasted filing complaints or looking for new customers to back up the calendar.
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It’s easy to slow down and take a back seat to new business development as the business grows. We tend to forget about the importance of scouting for new customers when cash flow is coming in strong, but we’re quickly reminded of their importance the moment we lose a large chunk of that revenue.
You can spend your newfound free time scrambling or invest it back into your company by using it to gain more revenue and customers.
Nobody likes a setback. We are hurt and disappointed by a relationship we feel we have lost, especially when it is our biggest client. However, every professional breakup has lessons that guide our teams toward a brighter tomorrow.
But if we see the situation as a learning experience rather than a dead end, our setbacks can create future winning opportunities. Take this quote from Walt Disney: “All the hardships I have faced in my life, my hardships and obstacles have made me stronger . . . You may not realize it when it happens, but getting kicked in the teeth can be the best thing in the world for you.
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Carol Dweck’s research on growth mindset delves into how successful performers view negative situations as opportunities for growth and learning. People with this growth mindset believe they can develop new skills, are open to feedback, and constantly see challenging situations like losing your biggest source of income.
There are great lessons in every business relationship. By honestly evaluating the work process, we develop how:
We may also learn during the process that the client we lose is not the best fit for our firm and services, despite the revenue stream – and we need to have strong guidelines for the clients we sign. The only way to find these lessons is to take our emotions out of the situation and deliberately look for them.
The first time I was devastated was when I lost a client for my consulting practice. They are my biggest source of income and the brand in my client roster that I use when pitching new clients. However, this loss forced me to review how well I was handling our relationship.
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After speaking with the client and thoroughly reviewing my processes, I saw holes that needed to be addressed. I immediately revamped my entire onboarding and ongoing client-relationship programs. Not only did this change strengthen my list of smaller clients, but when that big client called me back two years later, our working relationship was greatly improved because of what I had learned after our previous breakup.
Not all professional stories end with you and your former client reuniting like the two stars of a romantic comedy. But if you use a negative situation to improve your company, grow your business, and implement lessons with your team, you can write a better ending for your organization.
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by someone you love or pCoping after losing something is one of life’s biggest challenges. Feeling the pain of loss and becoming overwhelmed is normal. Grief is an individual and unique experience. Please remember that there is no right or wrong way to grieve.
Even small losses in life can cause grief. For example, you may grieve after you move away from home, graduate from college, or change jobs. Whatever your loss is, it’s personal to you, so don’t be ashamed of how you feel or believe it’s okay to grieve certain things. If the person, animal, relationship, or situation is important to you, it is normal to grieve the loss you are experiencing.
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Whatever the cause of your grief, there are healthy ways to cope with the pain and ultimately overcome your loss. Grief is a unique experience. Some may experience grief like a roller coaster, while others experience grief in a series of stages.
When you’re grieving, taking care of yourself is more important than ever. The stress of a major loss can quickly deplete your energy and emotional reserves. Taking care of your physical and emotional needs will help you get through this difficult time.
Face your feelings. You can try to suppress your grief, but you can never avoid it. To heal, you must acknowledge the pain. Trying to avoid feelings of sadness and loss only prolongs the grieving process. Unresolved grief can also lead to problems such as depression, anxiety, substance abuse and health problems.
Express your feelings in a vivid or creative way. Write about your loss in a journal. If you’ve lost a loved one, write a letter saying things you never said; Create a scrapbook or photo album celebrating the person’s life; Or get involved in a cause or organization important to your loved one.
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Try to pursue your hobbies and interests. There is comfort in routine, and getting back into activities that bring you joy and connect you closely with others can help with your loss and the grieving process.
Don’t let anyone tell you how to feel and don’t tell yourself how to feel
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