Would you rather have one good client paying you five thousand dollars per month or ten smaller clients paying you five hundred dollars each per month? Here are two good reasons for choosing multiple clients over just one client.
1. Avoid Dependence on One Client
Don't put all your eggs in one basket. If you have only one major client and lose them, you have zero income overnight.
Knowing that they are your sole (or main) source of income, some clients will make some unfair, unreasonable demands of you. They can get away with it because they know you are in a very poor bargaining position.
You could also end up losing a good client for reasons beyond your (or even their) control. Bankruptcy, sale or bequest of the business to someone else, or a new manager who has made other arrangements are just a few ways you can lose such a client.
You are much better off to have several clients. If you lose a client that represents ten percent of your income, you still have ninety percent of your income left.
2. Clarify Your Self-Employed Status
Self-employment status has certain tax advantages over being employed. Although there are other factors to consider in making this determination, the more clients you have, the less likely that you will be classified by the tax authorities as being an employee.
For example, if you do all your work for one client at his office, a good case could be made that you are his employee. If you work for two different clients at their offices (or even your own), a case could be made that you have two different part-time jobs.
On the other hand, if you have a hundred different clients you work for, it is unlikely that anyone would argue that you have one hundred part-time jobs.
So, to avoid dependence on any one client and to clarify your self-employed tax status, choose several clients over just one or two clients. For increased success and to be a truly independent business, obtain multiple clients.
RESOURCE BOX:
J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years.
For profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/
Small Business, Big Business ? What's the Diff?Well a lot... Read More
There are only a handful of car wash franchises in... Read More
What is the best time to expand a mobile car... Read More
A Private Investigator is a professional trained in the art... Read More
Running a business on the net these days can be... Read More
Whether it has been thrust upon you by external market... Read More
$elling $elling $ellingWhat makes a great sales person? Well, the... Read More
Disclosure laws in franchising are suppose to help the consumer.... Read More
As a solo entrepreneur or small business owner, one of... Read More
While driving through Pennsylvania farmland, you have probably noticed an... Read More
It is estimated that 78% of all small business start-ups... Read More
Today is a Red Letter Day! It's special because today... Read More
Gather round while I tell you the story of Kennebec... Read More
That sizzling sound you're hearing may be a symptom of... Read More
In the first part of this article I put forward... Read More
Thinking of starting a business on line? If so there... Read More
Think of all of your business ideas as tiny seeds... Read More
As a business owner, you already know how important it... Read More
When do annoyances in a relationship become too much to... Read More
Everyone wants to succeed in life. Most people want to... Read More
Everything starts with a business plan: If you don't have... Read More
Most small business owners are faced with so many responsibilities... Read More
In the book Women and Small Business author gives all... Read More
1. Don't Spend Too Much Time PlanningWhen you are entering... Read More
North County San Diego has had some significant growth, and... Read More
When you go into business for yourself, there are many... Read More
After over thirty years advising small business it still comes... Read More
Small business success is very similar to learning to walk,... Read More
What are the benefits of using a Freelance Consultant /... Read More
Where do you find more customers?How do you compete with... Read More
Opportunities for home show businesses have never been more abundant.... Read More
One of the major complaints in the QSR Quick Service-Fast... Read More
Over regulation of small business is so intense it is... Read More
If you own a Pressure Washing Company and wish to... Read More
Most business owners do not think of selling their companies... Read More
As an Investment Representative you've worked hard to build trust... Read More
Financial Consultants are one of the fastest growing industries today.... Read More
What is the best time to expand a mobile car... Read More
Just a few years ago, when one thought of a... Read More
If you intend to franchise your company you will need... Read More
Nothing can drive a business down faster than customers who... Read More
A career coach could be simply defined your job seeking... Read More
Essentially there are 5 tremendously powerful methods to make money... Read More
Car wash businesses are unique to other businesses. In fact... Read More
In the Truck Washing Business every single type of vehicle... Read More
Completion not Perfection Five Keys To Doubling Your Productivity and... Read More
While there are few career paths that some would call... Read More
It has been said that the only constant is change.... Read More
How do we keep track of our business deals?If you... Read More
There are several well-known truck washes in the Great State... Read More
Cleaning the trailers towed by big trucks is not easy,... Read More
Cash flow. To stay in business, you've got to keep... Read More
Some of the greatest words of wisdom for any man... Read More
One of the most common horrific mistakes a business can... Read More
The resume writing service serves an important role in the... Read More
Thinking of starting a business on line? If so there... Read More
In a perfect world, starting a small business would be... Read More
SBIR vs. STTR: If you are participating in the SBIR... Read More
When does your ego get in the way?Let's go back... Read More
One of the major complaints in the QSR Quick Service-Fast... Read More
According to the American Society for Aesthetic Plastic Surgery, since... Read More
Anyone who is serious about washing aircraft as a full... Read More
As a home business proprietor, you may already realize why... Read More
Last year, trillions of dollars transferred hands on the internet... Read More
You can provide affordable health care plans to your employees.... Read More
One thing I have noticed in my travels to different... Read More
Small Business |