As you build your business, you’ll soon need to decide how many clients you want to work with at any given time. Initially, you might think the more clients, the better, but it’s important to plan ahead and carefully consider the type of lifestyle you want to live before you make that decision.
So today, I’m bringing you 4 tips to help you determine the ideal number of clients for your business.
Let’s get into it:
Tip #1: Consider Your Business Goals
Thinking about your business goals is the first step to understanding how many clients you need and how much time you can dedicate to them. Do you have a vision for your company? Being clear about where you want your business to go will help you manage your workload and ensure that you have the resources to meet clients’ needs today and in the future.
Think about what kind of business owner you want to be. Do you want to be at the head of an industry behemoth or a niche boutique firm? This is an important question because it will influence your client roster and inform how you need to budget time, money and people power to produce consistent, high-quality work.
Tip #2: Consider Your Personal Goals
What do you want your personal life to look like? Do you want day-to-day flexibility or are you happy being at your computer from 9-5?
If you’re someone who enjoys spontaneity or has a lot of important obligations outside of work, you’ll need to keep this in mind as you start signing on clients. More clients typically mean more working hours and less flexibility. If you’re unsure, start by taking on new clients slowly to see how the increased workload fits into your life.
Tip #3: Know Your Comfort Zone
You might be tempted to take on as many clients as possible to increase your earnings, but that decision could lead to burnout and bringing in less money than if you had focused on fewer clients. It’s important that you know yourself and your limits in order to make the best decision about how many clients you can realistically – and successfully – handle.
You can always ask for more work from a client later on, but it’s not always easy –or possible – to step back from responsibilities once you’ve agreed to do the work. Knowing how much work you can handle at once is essential if you want to pinpoint how many clients or projects you will accept at one time.
Tip #4: Weigh the Benefits of Big Corporate Clients vs. Small Business Clients
When you decide how many clients to take on, it is crucial that you weigh the pros and cons of working with small business clients as opposed to larger businesses. While small companies typically generate less revenue than large organizations, these clients may have more manageable needs or be more open to new ideas. Handling several smaller clients instead of one big money-maker could be more aligned with your business depending on your personal and professional goals.
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Figuring out how many clients you can and want to take on is an important part of structuring your business. Start by considering your business goals, your personal life, your comfort zone and whether you prefer to work with small businesses or large companies to make your initial decision.
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