I've taken a couple not-entirely-unsuccessful cracks at running a small business and worked for others in the same vein and can tell you that, at least for a so

I've taken a couple not-entirely-unsuccessful cracks at running a small business and worked for others in the same vein and can tell you that, at least for a software business, the dirty secret is that a lot of businesses out there are totally dependent on 1-3 large clients. Established businesses, on the other, hand often do have a diverse customer base and other means to overcome economic headwinds, and they can be seen as a mechanism that bundles those things for you and gives you a portion of that security.