Shortly after Easter, I saw a video clip of a little girl running toward a previously hidden Easter egg while hugging a basketful of eggs that was almost as large as she was. Of course, the inevitable happened. She tripped and landed on top of her goodies. Don t put all your eggs in one basket. My revision of this phrase is don t put all your work into one client s basket.
Large accounts are a mixed blessing.
On the one hand, they pay the bills and can often see growing businesses through rough transitions. On the other hand, they make small companies vulnerable by tying up resources. If something happens to your relationship with your big client, your business may be in jeopardy. If you re so busy catering to a single customer that you pass up other business opportunities or have no time to find new customers, your company may be too dependent on one client. Regularly analyze accounts payable and receivable to ensure that the majority of your revenue is not attributable to one client.