Sean knew a thing or two about IT. And he was good, very good at it. Sick of his stinking job, he struck out on his own. And he took his biggest client with him.
They happily followed him because he was good, very good at IT. They promised him the world, exclusivity, retainers… the works. All to keep Sean fully committed to them and their needs. And Sean started making serious money from them.
So his business looked good, very good. And things were good, very good… for a while. BUT…
Within a year, they started reneging on promises. And started forcing Sean to pitch for their work. He was one of many IT suppliers for them. But they were one of one principle client for him. And that was a problem. A big problem.
The danger of one. As a business owner, you must, absolutely must, have more than one. One client. One supplier. One product. One service. One source of traffic… Because when things change, or fail, or simply don’t work out as promised, your business is buggered if you don’t have a buffer zone.
Because whatever your one is, it wields ALL the power and control over your business.So if there’s a part of your business that relies heavily on a one… start to look around to add a two, three, four or more, to remove your absolute reliance on it.
See if your Google ads start falling flat on their face for generating new leads (like mine did 6 months ago) then you want a buffer zone backup like Facebook ads (like I did). Or LinkedIn ads or YouTube ads or radio ads, or trade magazine ads or, or, or… you get the picture.
Or if you have one client who generates most of your turnover, then start to look for more clients, so if they change their mind, their procedures, their management, or whatever, you’ve got a safety buffer zone of other clients in place.
Don’t go under like Sean did, simply because he relied on the number one, and someone’s word. Think the more the merrier.
P.S. You want options. Plenty of options. Imagine if you went to a restaurant for dinner and you were offered one type of beer, one type of wine and one item on the menu. It’d be seriously odd right? No different in your business.
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