In this episode of The Practicing Accountant, Doug and Dan dive into why losing clients can be the best thing for your business. Doug shares a story of a client who was overwhelmed with too many low-paying, non-ideal clients. By firing a portion of them, the client freed up space, brought on better clients, and increased revenue, ultimately transforming his business. They emphasize the importance of cultivating a client list by letting go of clients that don't align with your niche or don't pay well, resulting in a better experience for both your team and your clients.
The guys add that regularly reviewing your client list and adopting a "one in, one out" approach helps keep your business focused on high-value clients. They also discuss the positive impact firing bad clients can have on staff morale and how doing so builds trust and credibility within your firm.
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