We told clients earlier this year that we’re raising our rates starting January 1

As a result more have churned than expected, and yesterday I was feeling the pressure

I brought it up with my therapist and he taught me an incredible lesson... separate problems from worries

Problems are something that needs to be solved, worries are a feeling that may or may not indicate a problem

Clients cancelling their retainers isn’t a problem

We instigated the changes that led them to cancel because we knew we needed to grow and had clients who were no longer a good fit

So what are the problems?

The first one is easy... we have unsold capacity in January

At first I thought the second problem was that we needed more information from clients on why they cancelled.

But that’s assuming there’s a rational reason that has something to do with us

Wanting more feedback isn’t a problem, it’s a worry

I’m worried there may be something else going on I’m unaware of

This is where we get to the second stage of the lesson.

Are worries useful?

Yes! Worries are useful because they’re indicators. They tell you that you need to take action or pay closer attention.

But they’re also a starting line. Once you take action you’re across the line, and continuing to worry is now a distraction.

Take action and then have faith.

So let’s break it down. We had more clients cancel than expected. What are the problems? What are the worries? And what are the actions I’m going to take?

Problem: unsold capacity

Worry: there’s another unknown problem
Action: interview clients who are leaving

Worry: other clients could churn
Action: check in and solidify relationships

Worry: we won’t close new business fast enough
Action: focus on sales and marketing

And here we get to the third lesson my therapist taught me.

There’s a 4th worry I was missing, a positive one, that actually points to a great opportunity!

What if the clients who churned did so because it wasn’t a great fit anymore? For us or them?

What if we didn’t do anything wrong? We just shouldn’t have been working together at this point?

The project was at a good conclusion.

In that case we have a great opportunity! To find new projects that are a fantastic fit, that we’re really excited about and with people who are excited about us and the way we do things.

So the 4th worry

Worry: we pick clients out of fear who are a bad fit
Action: determine how to evaluate new clients for fit and set a threshold for who we work with

The final lesson my therapist taught me? It’s a great one.

As soon as we close one new client, that threshold should go up. Constantly raise the bar.

In summary, all entrepreneurs should be in therapy (well really all human beings but I’ll start with entrepreneurs )

Put in this new perspective, I’m still worried but I have a clear set of actions to take.

I’m excited for our clients who are leaving, to see them grow and take what we built with them.

And I’m excited for the new opportunities to work on interesting projects with great people!