Being an entrepreneur is hard. It’s even harder when you lose a big client. As an entrepreneur or a business owner, it is always challenging to get a new business deal. However, losing an already established relationship with a big client can be detrimental to the best of us.
For the inexperienced ones, it is easy to lose focus.
For you, it doesn’t have to be the same. It is important to bounce back and stay on your path to grow your business. Clearly, as an entrepreneur, it is hard to discuss your problem with others, and that’s why, in today’s article, we will list the five tips on how to bounce back when you lose a big client. Let’s get started.
1. Get Feedback
Even though you might feel sad over the loss of a big client, it is a good idea to ask for proper feedback.
Asking questions to the client, on what went wrong can help you a lot in future. This will also give your client a sense of responsibility by conveying his expectation to you.
Losing a client is not always your fault. Sometimes, things don’t work out. It is up to you to connect with your client and ask them the exact reason. This will also help you to evaluate your position better.
2. Try To Get Them Back
Building a relationship with a long-term client is no simple task. You worked hard to earn the trust of your client. Since the client is no longer interested in your services, you should try to re-establish ties with them. It can be done simply by asking them for critical feedback. Tell them that you can incorporate the feedback into your work.
This simple gesture can open up new dialogues with the client. Even you can get . Also, the client will also appreciate your willingness to learn and adapt in difficult times. Give it a try as you have nothing to lose.
3. Client’s come and go -- that’s how it works
As we grow, we understand what we are truly capable of. Our skills grow with time, and it is common for us to find better opportunities. Losing a big client is just part and parcel of that journey. You need to embrace it and understand that this is neither the first time nor the last time you are losing a client.
Once you understand the whole perspective, you will be able to see clearly and work on plans accordingly.
The founder of Network Under 40, Darrah Brustein has something to say about this topic. She says, “One thing I've done to remedy this feeling is to reflect back on past times when similar outcomes presented themselves, and then remember how another opportunity that ultimately was a better fit later came along.”
The goal is always to think positive about your future.
4. Hunt for new clients
It is important to reflect upon why you lost your client. However, it is more important to move ahead and look out for new clients. Always remember that someone is looking for your talent and will pay you for your services.
You can also ask your previous client for a positive reference. By doing so, you are simply opening new opportunities to work with other amazing clients all over the world.
As a software development service provider or a app development freelancer , you need to balance your resources to multiple clients. By doing so, you will not be heavily dependent on one client. Once you do it, you will understand the importance of not putting all your eggs in one basket.
Our mistakes define us. As an entrepreneur, freelancer or a service provider, you need to learn from your mistakes or experience. Also, it is important to reflect rationally on what happened, and then take actions accordingly. This way you will always be ready for new challenges and also keep your revenue stream steady for a longer period.
Do you think that we missed something important? Comment below and let us know.
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