Get All Access for $5/mo

Why This Entrepreneur Broke Up With His Biggest Client For Taktik Logistics Group to thrive, it would need to do what once seemed impossible.

By Jason Feifer

Taktik Logistics Group

This is an episode of our podcast, Problem Solvers. Each week, an entrepreneur reveals how they overcame an unexpected problem in their business -- and were happier and more successful as a result. The show is hosted by Entrepreneur's editor in chief, Jason Feifer. Listen below, or subscribe on iTunes, Google Play, Stitcher, or wherever you get your podcasts.

Tyson Lawrence launched a logistics company in 2005, and the next four years were thrilling. By 2009, he'd reached $5 million in sales. "So I felt really good," he says. "Everything I touched turned to gold."

Then that golden touch suddenly disappeared. His growth stalled. His profits shrank. Even when he hired more people, and was doing more business, hit bottom line never got bigger. That's when he took a close look at the fundamentals of his business and discovered a major problem. His business had become far too reliant on serving one giant client -- and that giant client was starting to hold him back.

On this episode of Problem Solvers, we follow Lawrence through what happened next. To save his company, he needed to make gut-wrenching decisions that would lose him a lot of money and take years to resolve. "In fact," he says, "I didn't call myself an entrepreneur until after I got through this situation, because I didn't feel like I had really earned it."

Today, his company Taktik Logistics Group is back on the growth track. It's bringing in $5 million a year, and expects to hit $15 to $20 million in revenue by the year 2020. How'd he do it? Click the player button to listen.

Anyone who's ever had to sign and mail a paper document has wondered: There's got to be a better way to do this. And there is! SignEasy is a easy-to-use, simple and legal way to digitally sign documents. You can sign them yourself, from anywhere and on any device, or send documents to customers, partners, or colleagues for signing, and even track the progress of documents and get notified when a document is signed. And if someone's late in signing, you can send them a reminder. With SignEasy, there's no reason to deal with documents you have to print and sign and put in a mailbox. SignEasy is faster, easier, and safer. To get started for free go to getsigneasy.com/podcast.

ProsperWorks knows what everyone in sales knows: CRMs are really tedious. "Somewhere along the way," its website says, "CRM got really hard to use." And that's why ProsperWorks has built a CRM that's the opposite. By integrating with tools you're already using and eliminating repetitive tasks with automation, ProsperWorks is beautiful, easy to use and drives productivity to help you and your team sell more, faster. Try ProsperWorks for free by using our link.

Jason Feifer

Entrepreneur Staff

Editor in Chief

Jason Feifer is the editor in chief of Entrepreneur magazine and host of the podcast Problem Solvers. Outside of Entrepreneur, he is the author of the book Build For Tomorrow, which helps readers find new opportunities in times of change, and co-hosts the podcast Help Wanted, where he helps solve listeners' work problems. He also writes a newsletter called One Thing Better, which each week gives you one better way to build a career or company you love.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.

Productivity

6 Habits That Help Successful People Maximize Their Time

There aren't enough hours in the day, but these tips will make them feel slightly more productive.

Business News

Apple Is Adding ChatGPT to iPhones This Week. Here's How It Works.

ChatGPT will take over questions that Siri can't answer.

Leadership

Why Your AI Strategy Will Fail Without the Right Talent in Place

Using fractional AI experts through specialized platforms allows companies to access top talent cost-effectively, drive innovation and scale agile strategies for growth.

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.