Losing a key client can be devastating for any business. This devastation is not limited to just financial loss or tarnished company brand. There is the declining employee morale associated with the loss as well. No business has a perfect record when it comes to retention. Even your best customers will eventually move on at some point, and not necessarily because of your lack of performance on your end. When you come to terms with this reality, you'll be prepared for when it happens. I've personally worked with entrepreneurs who have experienced loss at all levels. But the one thing that stings these solitary geniuses the most is losing one of their biggest clients. Take the necessary steps to recover from a major customer loss so you're positioned to recover quickly: Be flexible with your staffing. Creating the right types of efficiencies will ensure that your company isn't overstaffed, even on your biggest accounts. Even if employees are dedicated to certain accounts, make sure that you have a plan for migrating your people to other areas of the company should you lose that client. Laying people off and then hiring more resources again creates a highly volatile environment.
Customer Service Lessons