If you've been in business long enough, you probably have had to fire a customer. It's not fun. I'm sure you thought long and hard before you made the decision to let them go. Sandra Yancey, CEO and & Founder of eWomenNetwork, calls it "Bless and Release."
When Your Ideal Customer Needs to be Fired
The 80/20 Rule
You've most likely heard of the 80/20 rule, or the Pareto Principle, named for the Italian economist, Vilfredo Pareto. The basic principle in business is 80% of your sales come from 20% of your clients. On the flip side, 20% account for 80% of the problems.
Your goal is to focus on the 20% who make the cash register ring AND, this is really critical here, who are also in alignment with your core principles and values.
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