Last night I had a conversation with 4 accountants who appeared to be in a contest for “who has the worst, barmiest, annoying client” competition.
It is amazing that even these “switched on” accountants still work with these types of clients.
Each admitted that they consume huge amounts of time and energy and are bad payers. So why do we put ourselves through this pain?
What’s your excuse?
“I need the GRF?”
- yes, but be truthful…are you actually making any profit on this client?
“I’ve worked for them so long I feel an obligation to them.”
- It’s true– we feel they “helped us” by becoming a client when we were starting out– but things are different now. You need to remember your own worth.
“They know too many of my existing clients– what if they “bad-mouth” me and they all leave?”
- Only you know the value at risk. Or do you? Do you believe that they treat those other clients any better than they treat you? What would be the true loss in incomeyou could endure before it actually affected the profitability of your business? (Have you graded your clients and applied the 80:20 principle?)
On a more positive note…what would you gain from sacking this client?
(Hint: more time, freedom to work with more appreciative and profitable clients, less stress, a happier team…)