Relying heavily on one client for income is stressful. I’ve been with them for two years, but it feels risky. What if they decide to downsize or stop working with me altogether? It’s got me reconsidering how to find more clients and create a buffer for financial security.
After reviewing my finances, it’s clear I need to think about diversifying my portfolio. Anyone else been in this situation?
You might want to take on small projects when you can. It helps keep income steady and lowers the risk.
Start looking for smaller jobs when you can.
Start reaching out to other companies while you’ve still got steady income from your main client.
I keep my network active even when work’s going well. I’ll shoot off a few emails each week to potential clients or old contacts. Finding new work is way easier when you’re not desperate.
Been there. Lost a client who made up 80% of my revenue when they moved everything in-house.
After that disaster, I made a rule: no single client gets more than 40% of my income. Keeps me hunting for new work even when I’m comfortable.
I also banked 20% of what my biggest client paid into a ‘transition fund.’ When they finally left, I had months of expenses covered while building up other clients.
Do this while you’ve still got steady money coming in. Finding clients when you’re stressing about rent is brutal.