If you’ve been running your business long enough, you’re sure to end up in a situation where you have to cancel a service, subscription, or software. This can be inconvenient, especially if you have any history or personal relationship with the service provider.
In reality, you could also be procrastinating on this conversation because you’re apprehensive you’ll hurt the relationship (even when not talking could hurt business results or progress!).
If this is occurring to you, take a big deep breath! Today we’ll discuss how to end a business relationship so as to reduce expenses and find a recent situation that suits the present needs of your organization.
In this text, you’ll find some suggestions on exactly what to say so you can go in the perfect direction in your business with the arrogance of keeping your costs low and maximizing your private home salary.
Why you can end a business relationship
Business relationships can end for a number of reasons. Perhaps you’ve decided you can find a higher deal for the service you need, or you’ve looked closely at your business and realized you don’t need the service in any respect! Businesses also grow and alter over time, so it could be that this relationship not serves your ultimate vision.
Whatever your reason for ending a business relationship, there’s definitely a right and fallacious way to end it. You would like to walk away from the experience feeling like you’ve closed a door, not burned a bridge.
By that I mean you want to remain skilled but firm, but you also want to watch out about how you approach the opposite party in case you can still offer one another recommendations or your needs change and you want to renew your contract in the longer term.
I also want to acknowledge that ending a relationship, especially a long-term one, can be awkward and you could also be hesitant to leave. Telling someone you not want their product or expertise can be really inconvenient, even when it is not personal – and that is totally high-quality!
All of us feel that way sometimes. But when you want to keep making decisions that may construct your business, you’re going to have to have tough conversations like this from time to time.
What you don’t need to do is procrastinate on deleting a service, spend more money you DON’T need and waste extra mental energy when you could unencumber that space in your mind to create something great in your business.
To make the entire process a bit easier, below are some suggestions on what to say to end a business relationship effectively and professionally.
Method 1: Get to the purpose
This method eliminates potential overthinking and gets to the center of the matter. I suggest something like this:
“I appreciate any help [company] gave me over the past few years but my situation has modified and I can have to cancel the service. I wish you all the perfect.”
Short, sweet and to the purpose!
Do not forget that not all circumstances require explanation. Sometimes if you just cancel something and there isn’t any personal relationship on the road, it’s higher to just end the relationship by notifying the opposite party that you not want their services or products.
Otherwise, if you have a personal relationship with one other business owner or staff, you might want to consider the following method.
Method 2: It isn’t you, it’s me
Here is a easy script:
“Thank you for all of your help and support. It was exactly what I needed at the moment. Nonetheless, recently I’ve realized my needs have modified so it could be best if this was our last [session/month/etc]”.
There are several advantages to ending a relationship this fashion. First, it expresses your gratitude for what they’ve done for you previously and builds it up.
Secondly, it doesn’t blame anyone or attack the opposite party in any way. You are just saying that while their services or products was perfect for you, your business has gone in a different direction and now you need something else.
If neither of the primary two methods seem suitable, you can consider the last method.
Method 3: Total honesty
With this method, ensure you are completely honest with yourself before you approach the opposite party. Do some self-reflection and really take a look at what a part of the business relationship you brought in isn’t working at once.
Not only will this help you improve your business practices and systems in the longer term, but it should also help you resolve if being completely honest is best for you. It’ll also give you an idea of what you need from future business relationships to achieve success.
If you resolve that this method isn’t the perfect for you and the longer term of your business, I suggest you take a look at method 1 or 2 again and see if either option is healthier.
Ending unnecessary business relationships not only simplifies running a business. It can also help you cut costs seriously and reveal more money in your budget that you can shift to make your vision a reality or increase your takeaway salary!
in regards to the writer
Sarah DeShaw is the writer of The Detox Budget Handbook, a 7-day financial cleanse in your small business.