Amex Open Forum: When To Fire Your Customers

Written by chicceo Published in
"When we started the company we were struggling. We started understanding that we had the wrong customer." - Avi Wazana

In the video When To Fire Your Customers 
featured on the American Express Inside Successful Small Business Series, Avi Wazana describes how he let go of his best customers. This is something that not many people talk about but we have definitely experienced at Chic CEO. Firing a customer is a very harsh way of saying that it's not a good fit and that is one of the most important things you can do for your business. It's vital that you understand what it is that your company provides and to whom. 
 
Here's are two different scenarios that we experienced:
 
1) A advertiser that was not the right fit. When Chic CEO was first conceptualized, we believed that advertisers would provide the main source of revenue and fuel the fabulous content that we provide so we were hungry to find advertisers that were interested. In that hunt - we overlooked a big issue. We have two customers, you - our community and the advertisers and we need to satisfy both in order to have a successful, scalable business. One of our biggest advertisers and one that we worked the hardest to land, turned out to be wrong for our community and in turn, we had to sever the relationship - man, that was a really hard decision, especially because they were helping to pay the bills. Looking back it was the right decision for sure!
 
2) Believe it or not, Chic CEO is not right for everyone. I know - shocking! But seriously, we know who we intend to serve with our content, tools, resources and events and we speak directly to them (you). If we are able to create that bond that we try to create by offering the right mix of products right when our community needs them, we've hit the nail on the head and we get really happy about that. However - we have heard from some women that weren't connecting with what we were putting out there and in those circumstances we had to really weigh if they were our target market and we should be making drastic changes or if they were the minority. In the case that these few were not satisfied we had to open the door for them to exit gracefully instead of trying to satisfy their needs beyond the scope of what Chic CEO offers. 
 
Both of the two situations above did not feel great at the time but they were exactly what was best for Chic CEO and we are proud to have let those customers go...so to speak. Check out the video for yourself (along with the other great vids) and keep up the great work, sister!

What’s one lesson you’re learned as either a business owner or aspiring entrepreneur? Share your response with us using #sharingadvice on Twitter or Facebook!

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