Home
>
Small Business
>
Multiple Clients Create Your Independent Business

Multiple Clients Create Your Independent Business

Would you rather have one good client paying you five thousand dollars per month or ten smaller clients paying you five hundred dollars each per month? Here are two good reasons for choosing multiple clients over just one client.

1. Avoid Dependence on One Client

Don't put all your eggs in one basket. If you have only one major client and lose them, you have zero income overnight.

Knowing that they are your sole (or main) source of income, some clients will make some unfair, unreasonable demands of you. They can get away with it because they know you are in a very poor bargaining position.

You could also end up losing a good client for reasons beyond your (or even their) control. Bankruptcy, sale or bequest of the business to someone else, or a new manager who has made other arrangements are just a few ways you can lose such a client.

You are much better off to have several clients. If you lose a client that represents ten percent of your income, you still have ninety percent of your income left.

2. Clarify Your Self-Employed Status

Self-employment status has certain tax advantages over being employed. Although there are other factors to consider in making this determination, the more clients you have, the less likely that you will be classified by the tax authorities as being an employee.

For example, if you do all your work for one client at his office, a good case could be made that you are his employee. If you work for two different clients at their offices (or even your own), a case could be made that you have two different part-time jobs.

On the other hand, if you have a hundred different clients you work for, it is unlikely that anyone would argue that you have one hundred part-time jobs.

So, to avoid dependence on any one client and to clarify your self-employed tax status, choose several clients over just one or two clients. For increased success and to be a truly independent business, obtain multiple clients.

RESOURCE BOX:

J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years.

For profitable Work at Home Small Business Ideas, visit http://www.yenommarketinginc.com/

on demand house cleaning Winnetka ..

In The News:

The A.I. industry seems set for growing pains as Big Tech companies scramble for solutions to the medium's unprecedented strain on the power grid.

Fourth of July fireworks cause a 60% spike in lost pets, but GPS trackers and AI photo-matching services like Love Lost can help reunite missing dogs with their families.

Protect yourself from jugging, the rising crime by which thieves monitor ATM users and follow them to steal cash, with six practical safety tips to stay alert and secure.

U.S. airlines like Delta, American and United are selling your domestic flight records to government agencies through the little-known Travel Intelligence Program.

Autonomous robots from Uber Eats are rolling out across U.S. cities, featuring LIDAR sensors, secure compartments and all-weather operation for food and grocery delivery.

Costco has expanded into EV infrastructure with new ultra-fast charging stations that can charge most electric vehicles to 80% in 20-60 minutes while shoppers browse the warehouse.

The new Gemini Robotics On-Device AI allows robots to perform complex tasks without internet, offering enhanced privacy, reliability and adaptability for real-world use.

Protect yourself from Amazon phishing scams by spotting red flags like suspicious sender addresses and spelling errors while using Amazon's Message Center to verify communications.

GAC Group's new Govy AirCab flying car combines lightweight design with advanced safety systems and smart cabin technology to revolutionize city travel with an 18.6-mile range.

The Berkeley Humanoid Light (BHL) is a lightweight, open source humanoid robot that anyone can build using 3D-printed parts and off-the-shelf components.

Meta’s new AI chatbot is getting personal, and it might be sharing more than you realize.

A new threat targets both Android and iPhone users: SparkKitty, a powerful mobile malware strain that scans private photos to steal cryptocurrency recovery phrases and other sensitive data.

Thanks to a team at the University of California, Davis, there's a new brain-computer interface (BCI) system that's opening up real-time, natural conversation for people who can't speak.

Privacy risks are hiding in plain sight, as your personal data is likely being collected, tracked, and sold without your knowledge.

VenHub, a fully autonomous, AI-powered smart store just opened at the LAX/Metro Transit Center in Los Angeles.

A woman's Facebook account takeover reveals dangerous social engineering tactics and provides lessons on recovery, avoiding scams and enacting stronger security measures.

Shanghai engineers are using 432 walking robots to relocate a complex, preserving Shikumen architecture while creating space for a modern underground hub and cultural center.

Major healthcare data analytics firm Episource had a cybersecurity incident exposing 5 million patients' medical records and personal information in recent breach.

A new sophisticated PayPal scam sends legitimate-looking emails from official PayPal addresses, using phone numbers instead of links to convince victims to download remote access tools.

Fox News' AI Newsletter brings you the latest on this rapidly evolving technology.

The innovative Kara Pod device extracts moisture from air to create mineral-rich water and brew coffee, featuring UV sterilization and compatibility with Nespresso pods.

Gov. Hochul unveiled New York's nuclear power plant project to power a million homes, which faces permit challenges while promising jobs and a cleaner energy future.

SAFE introduces Aerie, an underground luxury bunker combining high-end living with advanced security, wellness amenities and interactive walls simulating panoramic views.

A Facebook scammer posing as Elon Musk tricked a victim with promises of a Tesla and $250,000, requesting gift cards that become untraceable once the codes are shared.

Experience hands-free golfing with the Robera Neo smart caddie that uses AI to follow you, navigate obstacles and carry your clubs with GPS course mapping.