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Mike is a member of Business Mentor Insiders and he is running a successful agency. He has been in business for the past 2 years. Mike has a team of people working for him. Mike made $21K in revenue in one month and that is one of the best months in his business so far.
Make and his team had a problem keeping their clients engaged. They also had hard times getting new clients. His business suffered from that and was hard for him to sustain that income level. Usually, you want to have clients who are willing to stay with you for 6 – 12 months or longer. That is valid especially if you are in the Facebook ads industry.
Mike’s income was very unstable. His income fluctuated from $21K per month to $10K and even $5K per month.
Starting and running your own business is like a dream for most people, because who wouldn’t love to be his own boss? It can also be scary to take that leap of faith knowing that you are alone and you are responsible for generating income.
When you are an employee, you’ll generally have a set income and you can allocate your money accordingly based on your paycheck. But, when you are the business owner, your income is based primarily on how well your business is performing.
Small businesses are notorious for irregular income, especially when you are first starting out. Fluctuations in cash flow can make or break your business.
You have to find a client that had proven to work business model. There are a lot of advantages to work with successful clients:
- They give more permission. They give you free hat to implement.
- They have higher budgets to work with.
- They have higher assets to make the business work.
You need to have good communication with your client from the beginning and figure out:
- What is the implementation schedule?
- You have to set client’s expectations in the beginning of the relationship with the client.
You should always choose the clients who are going to stay with you for a long period of time. Make sure you always prioritize long term clients. You will not only make more money, but also spend less time and energy on delivering results.