What do you do if your client's business is struggling?

The most important thing is: never give up, despite everything. If you follow your passion, and are sure that what you have to offer is unique and can help many people, then just keep going. It's never easy, because you only want to engage in what you enjoy doing, and what you can do well. But that's not enough to have a well-run business . You also have to have enough people who want to use your services/product. There's a lot involved in that. You have to be visible, to do marketing activities, to promote your offerings. Invest upfront doesn't always return money. You only have a limited number of hours per day. Give many activities out of hand, for proffesionals to focus on your core business. Outsourcing costs money, but pays for itself

Absolutely, conducting a thorough assessment of the client's business is crucial for understanding the root causes of their struggles. This involves analyzing various aspects such as financial statements, market trends, and operational processes. Asking probing questions helps uncover underlying issues that may not be immediately apparent. It's essential to approach this analysis with a critical eye while also being sensitive to the client's concerns. This comprehensive understanding sets the stage for developing effective solutions tailored to their specific needs.

Especially in the past two years, we've seen companies across several industries struggle. As an AM or AE, you have to navigate the challenge and pressure of managing your quota/goals while being empathetic and not coming off as insensitive to your clients' situations. As you always should, focus on problem-solving for the clients. Think about what product in your suite or what use case might resonate and actually add value to them in this situation. If the answer is none, acknowledge it and maybe even ask for referrals/guidance to other parts of the organization where your offering might be better suited.

Firstly show compassion for your customer and their situation. Understand the impact and cause - get the colour of the situation as much as they will share. Here the more rapport you have previously built or relationship you have the more likely and easier it is to get the real situation details shared with you. Understanding this and where you fit in any financial jigsaw of the client is key.

Planning is the first step to achieve the goals. Stratezising your planning is important to bring an edge over other competitors. In order to survive inthe market one has to constantly strategize plan in the best way possible with creativity.

Absolutely, once you understand the challenges, formulating a strategic plan is essential. This plan should detail actionable steps to address the identified problems, creating a roadmap for recovery that is realistic, measurable, and time-bound. Flexibility is key to adapt to unforeseen changes in the business environment. By outlining clear objectives and strategies, you provide a framework for guiding the client towards success while allowing room for adjustments as needed.

What can you do if anything to work with your client in their challenging times ? Are they just informing you and need no action from you due to what you do for them? Are they making an ask of you to reduce costs or help with payment collections? Let them explain how you might help so you can give it some consideration. It may be that you can change their billing profile from annually to monthly or that you can reduce what they take to a reduced service and therefore cost for a short period ?

Absolutely, effective communication is paramount when working with a struggling business. Keeping the client informed about each step of the process and ensuring they understand the strategies being implemented is essential. Additionally, listening to their feedback and concerns is crucial, as they have a deep understanding of their business. Clear communication builds trust and ensures alignment on goals and expectations between both parties. This collaborative approach fosters a positive working relationship and increases the likelihood of success in overcoming challenges.

Implement the strategies outlined in your plan. Address specific issues such as marketing, pricing, customer service, and operational efficiency.