Thank them for being your client in the past 2) Say that you are sorry to lose them 3) Ask them for feedback 4) Ask if there is anything you can do to keep them 5) Try and keep them on your side... but move on!

Strengthen existing client relationships: Focus on delivering exceptional value to current clients to build loyalty and prevent further losses. Diversify revenue streams: Explore new market opportunities or service offerings to reduce dependency on a single client. Seek feedback from the departing client: Understand their reasons and gather insights to improve your product or service. Reassure stakeholders: Maintain investor and team confidence by demonstrating resilience and a proactive action plan. Boost your marketing efforts: Increase outreach to attract potential clients and fill the revenue gap.

Sometimes you lose a client not because of your fault but due to external circumstances beyond your control. In such a case I have always reached out the client and asked for a transparent feedback so as to improve client interactions going forward. If the contract is lost due to our oversight then reach out to the client and try to repair the damage. One approach could be waiving off the fees for a time and offer remedial action. In other case gathering feedback from the client and sharing with the team would be a must.

A key lesson I have learned after 3 odd decades in the ecosystem is that Not all customer are valuable. Ones that pay you an average or less amount, and place unreasonable demand on support and engineering resources, are, at some point unprofitable and dispensable. Critical customers are ones that have sizeable contracts, give glowing reviews, participate in joint PRs, refer you to more clients and act, to some extent, like an outsources QA organization. Such customers are definitely critical and if there are about to churn, then definitely pull out all-stops (assuming they have a genuine reason to be angry) to retain them. Assign key resources to mitigate their concerns, offer renewal discounts and other "sops" to ensure they don't churn.

Regardless of the type of business you are in and what stage of business client turnover happens. It can happen for a variety of reasons. Yes, self reflect, but continue to stick to your core standards and beliefs. Don't lose in such a way that makes your client not want to ever come back again, sometimes grass is not greener on the other side, we all know that, but no one likes to hear it. Do what you do, the best you can do, with the most integrity, and you will win more than you lose.