Diversifying Income and Learning from a Liability

What do you do when you lose your biggest client? That was my Spotify search query for podcast episodes on this topic in the summer of 2023. It came up empty—there was not a single podcast episode on this topic. Of course not. Who wants to admit out loud and in their archives that they've lost their biggest client? In the past, I probably wouldn't have fessed up to this either. Except for the fact that now it's what I wish I could see, read, and hear. Today’s compilation episode is here to fix that!

If you've been reading Rolling in D🤦🏻‍♀️h, you know that the origin story for my new-ish paid Substack was losing my biggest, most beloved corporate client in the summer of 2023. Getting The News shook me up so much because not only was it one of my longest-running favorite licensing clients, but it also represented at least six figures of income for the next six months being instantly wiped off the table.

Now, at least, we will all have something to turn to (and return to). My goal is not to provide advice but rather to offer some comfort through the voices of some of my dearest friends and favorite Heart-Based Business owners who are speaking from experience about how they've handled situations just like this.

Maybe you don't need this episode right now, but if something does happen in the future (even if we hope not), you'll remember that you can come back and listen on a proverbial rainy day.

Please share with any fellow business owner friends who might be going through a tough time, and enormous thanks to the wonderful group of friends and former podcast guests who shared their stories for this two-part episode!

📝 Contributors & Permission Slips:

• Kelli Thompson, author of Closing the Confidence Gap: “Diversify your business income and give yourself permission that you can do a lot of things that align with your mission, but offer it in many different ways that feel good for you.”
• Kristoffer ‘KC’ Carter, author of Permission to Glow: “Drop the self-judgment, give yourself more self-compassion, and just get back to work with creating the next even better client.”
• Pamela Slim, author of The Widest Net: “Give up the idea that you are in control of the success of your business. When you release that idea, then you can be more curious about how to step in and fix things that aren't working.”
• Charlie Gilkey, author of Team Habits: “Do not take the client loss personally. Stand tall, take care of yourself, and go get your next client.”

🔗 Articles Mentioned

• Rolling in D🤦🏻‍♀️h
• This is a Wonderful Day
• An Honest Accounting: Part One, Part Two, Part Three
• Am I Running a Zombie Business? Part One and Part Two
• Ghost Self: Part One, Part Two, Part Three

📚 Books Mentioned

• Closing the Confidence Gap by Kelli Thompson
• Permission to Glow by Kristoffer ‘KC’ Carter
• Escape from Cubicle Nation, Body of Work, and The Widest Net by Pamela Slim
• Start Finishing and Team Habits by Charlie Gilkey
• Free Time: Lose the Busywork, Love Your Business
• Pivot: The Only Move That Matters Is Your Next One
• Life After College

🎧 Related Episodes — Part One

• Free Time: 188: Energy Capacity Planning, Pricing, and Finding Resonant Masterminds with Kelli Thompson
• 039: Permission to Glow with Kristoffer (KC) Carter
• 117: Tiny Marketing Actions with Pamela Slim
• 143: Exploring Time, Money, and Energy Capacity with Tara McMullin and Charlie Gilkey
• 091: Quarterly Planning with Charlie Gilkey
• Pivot: 315: Intuition-Building, Spotting Pedestal Syndrome, and Closing the Confidence Gap with Kelli Thompson
• 136: Start Finishing—Pricing, Projects, and Momentum Planning with Charlie Gilkey

📝 Check out full show notes and share with friends: https://itsfreetime.com/episodes/264

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