Why You Need to Diversify Your Clients... Quickly
We lost 70% of our revenue two months ago. We had to cut a third of our full-time staff. Here’s what we are learning the hard way: Diversify your clients as soon as possible. Don’t rely on one company to provide the bulk of your revenue. Diversify the industry you play in. That way if one industry crashes (like tech right now) you are left in a strong position with companies from other industries. Understand the potential downsides of longer contracts - you might not be checking in on client satisfaction as often as you should. Tune in to hear Albert and Steph’s take on these lessons and how they are planning for the future. Mentions Sagan.fm - Need help producing your podcast? Shoot us an email at [email protected] to find out how we can help.
Mission Daily · Albert Chou, Stephanie Postles, Mission
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Show Notes
We lost 70% of our revenue two months ago. We had to cut a third of our full-time staff. Here’s what we are learning the hard way:
- Diversify your clients as soon as possible. Don’t rely on one company to provide the bulk of your revenue.
- Diversify the industry you play in. That way if one industry crashes (like tech right now) you are left in a strong position with companies from other industries.
- Understand the potential downsides of longer contracts - you might not be checking in on client satisfaction as often as you should.
Tune in to hear Albert and Steph’s take on these lessons and how they are planning for the future.
Mentions
Sagan.fm - Need help producing your podcast? Shoot us an email at [email protected] to find out how we can help.
Email us -> [email protected]
Work with us -> https://www.missionsponsors.com/
Follow Stephanie -> https://www.linkedin.com/in/stephaniepostles/
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