One of the most reliable ways to consistently get your income moving upward is to get in the habit of dropping low-paying clients.
That’s why this CEO month, we’re going to cover the concept and process of dropping the bottom performers in your revenue stream.
# 1 What are the caveats?
One thing I’ve always disliked about the advice to drop low-paying clients, is that people tend to skip over what you need to be secure enough to pull this off successfully.
First, low-paying status isn’t always enough of a reason to drop an account.
Sometimes you might be learning something rare and unique from a client experience, or you might need the cash. It really does take some discretion, which is why I advise people to start slowly with this tactic...find a time when you’re comfortable stretching yourself a bit and go from there.
But more importantly, you need a pipeline and solid prospecting habit. It’s freelance self-sabotage if you go cutting clients off without a tested way to replace them...so get those prospecting and closing skills up first, THEN you can start trimming the excess.
This week, review your prospecting and marketing habits to determine whether they’re ready to support a trimming exercise.