“Do, or do not...there is no ‘try.’ ” – Jedi Master Yoda
Huge customers are great when you have them, but what happens if and when you lose them? It can be a disaster, and even put your firm at risk. We see this more and more in today’s market. The most successful and growing firms often have one or more very large customers that grow to dominate their sales and influence how they do business.
Here’s of short list of critical dos and do nots:
In larger firms that specialize in fulfillment, they most often have contractual agreements. These agreements can protect both firms from damage resulting from ending the relationship. For example, if you make a big investment for one customer, they agree to take over that investment if they leave before the term of the agreement expires. If you have the opportunity to gain a “lion” customer, you may want to research this topic, and consider developing a more formal contractual agreement to protect both you and your customer.