Creating Foundation Biz Income During TImes of Growth

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We all want to work with our ideal, dream clients. But there will come a time in your business where you might have to take on working with a client who is less than ideal so that you can create some foundational income as you go through a phase of growth. You might be changing up your packaging or services that you offer. But even during phases of growth, there still has to be some income coming in so you can stay afloat. Let’s discuss creating foundational biz income during times of growth!

It’s story time!

I have a client who is transitioning more into a high end tech launch integration role. But she was approached to take on a retainer based client that was doing a little bit more of the VA style tasks like some social media management, but not necessarily in the tech world. So she asked me if she should take this person on even though they’re not necessarily ideal for what she is doing now.

This was the same situation for another client who was transitioning to a different position in the market. My answer to this question is…maybe. But one of the clients that I dealt with said to me that she felt like if she takes her on, then she’s keeping herself safe and in her comfort zone. She knew that she needed to move beyond that comfort zone.

You know I am always here to push you outside of your comfort zone…

However, I will never ever tell you to push yourself so far out of your comfort zone that it affects you financially. We all have bills to pay, a family to support, and mouths to feed. I will never tell you to not take on a client if it means that you are not going to have money for your mortgage available. So I call this keeping a foundational base.

Here are some things to consider if you find yourself in this situation.

Do you like this client?
Are they really easy to work with?
Do you love everything about them?
Do you enjoy it?

If you absolutely love working with that person, even though the tasks you do are not in the realm of your new role, and it’s consistent income, why would you give that up? Until your schedule gets to a point where you no longer can do this work for them, why would you give that up if you have the time and capacity to keep somebody that you love? Even if somebody new comes your way and you just love them, even though it’s not necessarily the ideal client of what you’re trying to build, it’s an opportunity for you to create consistent income.

Take the financial pressure off yourself…create foundational income.

As long as it’s not capping you to where you have no room to take on your ideal clients, then I say go for it. That’s not staying safe and in your comfort zone. It’s you actually being smart and responsible. We have a business to run and bills to pay. That’s not a bad thing.

Another important thing to consider…

Do you like the work you’re doing? So if a client is coming to you and asking you to stay on board, are they having you do tasks that you don’t enjoy? If you are doing tasks for them that you don’t enjoy, and you don’t want to do it, then maybe it’s not worth keeping them on for the foundational recurring income. There’s no point in continuing to do something you don’t enjoy unless you absolutely have to have the money.

But there’s always room for a new client. So if you release them because you’re doing tasks that you don’t enjoy, you can take on somebody new. It opens up room in your schedule to take on somebody different.

You need to look at the facts.

If you have time available in your schedule, and you enjoy working with the person, then you can take on this new client and still have time to look for those ideal clients in your new niche. Plus it’s going to be consistent recurring revenue for you. You 100% have to have a foundational base to keep you going during these times of growth.

When it gets to that point where you are getting known as the expert in this new field, you’ve got referrals coming in, and you’re getting to a point of being fully booked, then that’s when you have to look at whether or not it’s time to release that client. Can you help transition them out or can they move up with you? Is there opportunity for them to be in the new space that you are in?

I had another client who was scaling and moving her business away from retainer to VIP days. She kept a lot of her retainer clients on until her VIP days were booked out so much that she really didn’t have time. Then she transitioned them. Some of them converted to VIP days once a month. So instead of being like 20 hours on retainer, it was one big day a month. Sometimes clients can transition with you. But sometimes they don’t, and that’s okay.

Don’t feel bad about it…

Please don’t feel like you’re keeping yourself in your safe space by taking on a client that maybe isn’t 100% your dreamiest client. It’s allowing you to take the pressure off while you’re in a stage of growth. That’s being responsible! You’re creating foundational income.

Don’t add stress to yourself by putting this financial burden on yourself by eliminating all your clients while you’re trying to grow something brand new. If you have clients, and you love working with them, keep them until the time comes when you absolutely can’t. Don’t let some of this other noise in the industry, let you think that that’s wrong,

This is my personal opinion as always.

But I’m always here to take the pressure off you. We want to build businesses that we love and enjoy. And we want to build businesses that we’re excited to show up for. If you have a client that you love working with, and it brings you joy, don’t get rid of them unless you absolutely have to. Yes, growth requires change, but you can keep them along through the transition for quite a while.

Connect with Michelle-

Website – https://michelledenioconsulting.com
Facebook Profile – https://www.facebook.com/MichelleDeNioBizStrategist/
Linkedin Profile – https://www.linkedin.com/in/michelledenio/

Have Questions? Let’s have a Cup of Virtual Coffee!

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