are you an entrepreneur or an independent contractor
TRANSCRIPT
Are you an entrepreneur or an independent contractor?
Many people start their business as an entrepreneur but end up performing as an independent contractor to a big company
What are you into?
If a single client makes up more than half of your
income, you are more ofan independent contractor
than a business owner
For many small businesses, having a client willing to pay on time for a product or
service is wonderful but is dangerous as well if you have a single client only
Unfortunately this can result in a
longer term handicap for you as
this arrangement allows your client to
avoid the risks of adding payroll in an
area where the work may dry up at
any time
All of that risk is transferred from the company to you and your employees
This can work out fine provided that your main clients have a consistent
need for your product or service
However, it is generally better for a business to have a diversified client base to pick up
the slack when any single client stops paying
Diversifying the client base is vital to growing a business, but it can be difficult –
especially when the client in questionpays well and on time
Expanding your client base means adding more clients with the same amount of business from each one. It does not mean dividing your total
current business over more clients
as an entrepreneurand stop being an independent contractor
Make use of this
TIP(To Improve Performance)
if you want to:
•Increase profitability by minimising delays•Convert conflict into compatibility•Add a zero to your bottomline
If you have an issue that is blocking your progress, email Dr Chopra today
to arrange a complimentary mentoring session