On this week’s Dear Katie, I’m talking directly to you (firm and business owners). I was asked, “Recently, I lost a whale of a client due to them selling their business, and it’s impacted all of my prospecting. My headspace is in a bad place. Do you have any tips to overcome this?”

Losing clients can feel like a punch in the gut. 

But it happens. In business, you’ll never retain 100 percent of your clients.

Retention rates are between 60% and 85% across small to large firms, so naturally there will be some churn. 

Still, you’ve built something great and do not want to jeopardize it.

Getting down or being in a poor headspace for too long will impact your firm. 

That’s why, today,  I’m going to share how to get out of this negative headspace when a client leaves and three other business truths with you that I learned throughout my journey. 

They’re hard to swallow at first, but I wish I had learned them much sooner.

4 Business Truths Every Owner Needs to Hear

1. It’s Not Personal

You’re feeling the pain of losing a client. You might even feel doubt. I know for me, when losing a client, it’s not personal. This truth recently clicked for me. Why?

(Quick note: If you lose a client because of poor service, well, then it’s time for reflection and critical changes to improve.)

Here’s my story:

• I worked on a project with a great company not too long ago, and it required me to spend quite a few hours each week at a studio. I agreed to the project and opportunity, but I underestimated the scope. Preparation. Going to the studio. Recording on weekends. You get it. It was a lot, especially when you have little kids at home.
• At the end of the project, the local studio asked if I wanted to work on new projects with them.
• I said no.

I like the studio. They are professional, accommodating and great to work with. 

My “no” had nothing to do with them because they are amazing. I just cannot dedicate my time to the studio at this time.

It wasn’t personal. I decided I needed to have this free time for my family. 

Moral of the story?

When clients or prospects say, “No,” it’s not personal. It’s just not a good fit for them.

To quote Mel Robbins, “Let them.”

2. It’s (Typically) Not Urgent

There was a time when I would act immediately whenever I received a client request. I acted as if it needed to be done right away. 

But I quickly found that with this approach, my to-do list went from 10 things to do before noon to 20. 

I prided myself on being the quickest to reply and get things done. 

But here’s the truth: most things aren’t urgent.

If you’re making them urgent, you’re only stressing yourself out and robbing yourself of the time you need to respond and act effectively. 

Not only that, I found that when I stepped back and let things simmer for a bit, my team and I provided a better product. 

Whether it’s sending a more polished email or creating a better solution you wouldn’t have thought of had you replied immediately, treating things with urgency is not the way.

What made me realize this?

My therapist. We were discussing how stressful my days always were, and when she asked me why, I realized it was because I was making everything urgent. 

Long story short? It’s almost never an emergency. You can take the time to carefully respond or act. And yes, you can prioritize yourself and give yourself that time and space you need to get into a better headspace before replying.

3. It’s Just Words

Have you ever received an email or text and been triggered by the reply? Maybe you perceived it to be rude, condescending or something else that made you feel negative emotions.

I’ve been there many times myself.

Whenever I get an email or text like this, I pick up the phone and call the person who sent the message. 

And you know what I’ve found? More often than not, it’s one of two things:

1. They meant zero harm in their message. I just took it the wrong way, OR
2. There was a lack of communication, and I just needed to clarify.

So, if you find yourself in this situation, try calling the person. 

You’ll likely realize that it was one of the two scenarios listed above and will no longer feel upset.

How did I realize this truth?

My husband.

One day, I asked him for advice on how to handle what I thought was a spicy email I received. His response? Why don’t you just call them rather than trying to craft a response?

It’s so simple, but so true.

4. You’re Not That Important

This one might sting. But the harsh reality is that you’re not that important. 

• You can be replaced. 
• You’re not the only one who can do your job.
• Your business won’t burn down if your clients don’t talk to you.

You’re replaceable, but that’s a GOOD thing.

How did I realize this?

Right before I had my second baby, I had already done a great job of delegating a lot of the day-to-day business. But there was still one big time-sucker that I was involved in: client meetings.

After having two kids, I HAD to delegate. Now, this isn’t to say that I don’t join them from time to time, but if I wanted to continue doing business development work, attending conferences, hosting webinars and being a mom, something had to give.

So, I did it. I delegated 90% of client meetings to team members.

And guess what?

Leaders Online is doing better than ever.

The truth is that you don’t have to be involved in every aspect of running your firm, and clients will still be happy to work with your firm, even if they’re not speaking to you directly. 

Some of these truths may be hard pills to swallow at first, but ultimately, they will give you more freedom to focus on what you value most.

And, that’s a wrap on this Dear Katie question.

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Now I want to hear from you. Do you have a question? 

Submit it here

Until next time, cheers to your success!

Katie