Is it time to say goodbye to the clients that cost you dear?

I had a conversation a few years ago with the franchisor of a successful franchise. He explained to me that his franchisee recruitment policy had changed dramatically over the years. When he started his franchise if a potential franchisee had the funds and was keen to start, he would sell them a franchise. Fast forward several years and the new franchisee recruitment process was stringent, including psychometric profiling and several tiers of interviews.

 Why the change?

To be brutally frank, like many business owners, the franchisor did not have the luxury in the early days of being too picky in his selection process. And whilst this worked to some degree, there were casualties along the way with financial loss suffered on both sides.

When you started your business were you happy to supply your products or services to anyone within earshot? But with your confidence and success growing are you now at a crossroads? Is it time to make a few judgement calls, to gently prune your client base of the clients that are costing you an inordinate amount of time and energy for very little by way  of remuneration or referral?

Because the time spent servicing these clients is time that you could invest in targeted marketing to attract your ideal clients.

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