profitability

Hey agency owner — fire someone today

Yes, you heard me right.  I am talking to you, the agency owner.  And I want you to fire someone today. In doing so, you'll improve employee morale. You're thinking I must be the Scrooge of agency life -- suggesting you fire someone during the holiday season. It will ruin their Thanksgiving and the rest of their year.  No one hires during the holidays. Relax -- I am not talking about one of your employees.  If they're doing a good job -- send them a note this week telling them how grateful you are that they're part of your team. It's great for their morale. If not -- then you're like most agency owners and you'll hang onto them for another six months before they drive you to the brink and you finally fire them. I'm actually talking about firing a client.  Yes...a revenue producing client. Every agency has at least one client that is: Tough on employee morale Demanding without being equally appreciative A bad planner which means their emergencies become yours Drags projects on and on, burning through any hope for profitability Always nitpicking every invoice or project authorization Keeping you from pursuing a better client in the same category or industry You keep them on for cash flow.  Or because they've been a client for a long time or maybe because they're a marquee name and you like the recognition.  Whatever your reason is -- it's not good enough.  Those kinds of clients are wearing.  They beat up your staff, teach them bad habits (like complaining about the clients), will drive your best employees away and are a huge boulder in the path of you getting a bigger, better client. Yes, it's [...]

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