And when your business undergoes some changes, this quick tip will help make the transition easier for everyone.
James Schramko here. I’m going to talk about what happens when your business model changes.
So, occasionally, you will change your business model and some of the old clients or services you have will no longer be relevant. So what do you do? Just like some creatures out in nature, we might want to be the caterpillar that crawls into a cocoon and comes out as a butterfly. You actually need to let go of your old clients.
I’ve done this many, many times. One time, I switched off a $5,000 per month income stream for a client that had been paying me for over seven years and was very, very happy because it was the only client for that product. And it was just sitting outside my business. It was such a small fraction of my income that it was better for me to have the focus and to steer my energies towards my core products.
So what did I do with that client to make the transition easy? I actually made a referral to one of my other clients and I joined them up together so everybody was happy. And I felt tremendous relief so I’ve never looked back from when I turned off that income stream. Hopefully, you can do the same. If you’ve got legacy clients, legacy products that are nagging at you, switch them off. You won’t look back.
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