Don't Put All Your Eggs In One Basket!

Filed in archive business tips on March 13, 2008

Sure it may be a cliche but it's true. Let me explain. This morning I got a bit of a scare. A client of mine, and my highest paying one at that, emailed me to let me know his bosses were throwing around that dreaded phrase "budget cuts". Ugh! Fortunately it turns out whatever ones are made won't affect me, but it was still a very good reminder to never let the bulk of your income rest with one client or customer. It's much safer to spread it among several (and obviously the more the better). That way if you lose one, you won't find yourself in any financial straits. This is also a good reminder that you should never give up marketing yourself, even if your accounts receivable look fat and all your clients/customers are happy and sending you lots of work or orders. Keep your website fresh and updated, your skills sharp and your resume ready. In the world of self-employment the only job security is what you give yourself! Fortunately I picked up 3 new clients this week and have a strong possibility of a 4th, so that means more baskets to spread my eggs around in. Make sure you have plenty too!