We have all had client relationships that were, or are, the equivalent of a bad marriage. What first seems like bliss can nosedive into an abysmal mess. Sometimes neither side is “wrong” — but for a variety of reasons known and unknown, the chemistry, goodwill, and other positives found in good client relationships are just not present. Neither party is fulfilled. Question is, when do you move on and how do you justify it to yourself and your accountant? What are the criteria you use and how does this make sense from a business perspective?
I am a firm believer in taking yearly stock of clients and being strategic in who to take on, and who to let go. The “letting go” part can be tough, but take heart; as Mother Superior says to Maria in “The Sound of Music,” “When God closes a door, somewhere He opens a window.” You do not have to be Christian to appreciate the sentiment. Having put this into practice I agree whole-heartedly.