5 ms·

"A significant portion of my income as a business owner can get pink slipped at the decision of any one of seven people" Can you explain this further?

• vellum 15y ago
  Patrick does work as a consultant. I think he's saying that he has 7 big-time clients and if any of them fired him, his income would take a big hit.
  • larrys 15y ago
    Thanks for clarifying. One of the issues in any business is how big any customer is as a percentage of sales and that is normally one of the first questions a buyer of any business wants to know. While it's hard to turn down work and generally more efficient to deal with a few big accounts vs. many small accounts that is definitely a risk. That said I wonder how many people getting hired by a company are fully aware of how large a companies clients are and what would happen to their job if any client left. At least in Patricks case he directly can keep his clients satisfied.
    • coopdog 15y ago
      Plus losing a seventh or even half your income and then having a gap to look for new clients (you can ask existing clients for referrals) isn't anywhere near as risky as suddenly losing 100% of your income for reasons that can be fully beyond your control
  • randomdata 15y ago
    But at least the risk is spread around. Having a fraction of your original income still coming in is far better than having absolutely no income coming in.