14 leaders on handling major client loss

While not fun, losing a customer can make your business stronger. It’s inevitable that a business will lose a client at some point. It could be your business’s fault or it could be external circumstances that are out of your control. No matter the reason, a client loss can sting and you may need to reevaluate how you operate to prevent further losses. We asked our Fast Company Impact Council members how they handled their first major contract loss or contract cancellation. For some, it involved turning inward and rethinking operations. Others took an attitude of “it happens—move on.” Here’s the hard-won experience from 14 of our Impact Council members about their first big client loss.