Don’t Put All Your Business Eggs in One Basket

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In all likelihood, you’ve participated in an Easter egg hunt at some point in your life. If you compare an egg hunt to your business this Easter, you might think of said eggs as clients.

If your business is up and running, you’ve been successful with your egg hunt. You’ve gotten at least one client who’s well-paying enough to put your business in the black. However, when you go on an Easter egg hunt, you’re generally only given one basket. Is keeping all of your eggs in that one basket the right approach for your business?

Leggo My Clients-o

If you have focused all of your efforts on one client, what happens if something happens to that client? If they’re your sole source of revenue, will your business thrive, or even survive, without them?

Many business owners rely on referrals and can become dependent on referral sources for most of their business.  When those referral sources fail, it can put their business in jeapardy.

Many clients will be consistently looking for the glossier product, the shinier egg. The trick, of course, is to always stay one step ahead of your competition. If you rest on your laurels or rely on client loyalty to get you by, you might end up with lost or even cracked eggs which quickly become rotten.

Birds keep all of their eggs in one nest because it’s easier and safer to nurture them. If they’re all together, they’re less likely to lose track of their precious clutch. If you’ve ever seen a duck pond with a small island, you’ve probably noticed the enormous number of nests.  This keeps the eggs safe from predators because anything that would want to eat an egg can’t fly over to an island.

However, if you nurture your clients like you’re on an island, you’ll end up so isolated that you won’t be able to know what your competition has to offer.

By anticipating what current clients are going to want before they realize what they’re not getting, you can nip the possibility of them cutting ties in the bud. What do you have to offer that your competitors don’t?

Eggs-cuse Me, Do You Have Any Referrals?

Depending on where you are in the journey of your business, you might be hunting for the wrong eggs. If you don’t ask your clients for referrals, you’re letting opportunity slip through your fingers like an Easter egg whose dye hasn’t dried yet.

Are you using the same tried and true marketing methods, thinking in “if it ain’t broke don’t fix it” terms? Could there be more innovative ways that you haven’t considered? Is your blog active and current?

Two ways to make sure you’re not putting all your eggs in one basket are to ask your current clients for referrals and use innovative marketing.

A Very Eggs-citing Product

What products could you make available to clients that you haven’t considered?

You can use spring celebrations as inspiration to create a new product that you’ve been procrastinating turning into a reality.  Or perhaps you’ve fully created a product, and what you’ve actually left on the back burner is the launch.

Think outside the basket and build your business in a way that keeps egg production high and rotten eggs at the bare  minimum.

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