One of the biggest things holding agencies back from growth is client concentration.
We saw this happen over and over again during Covid.
As soon as there was a big disruption (aka pandemic), and big clients started slashing budgets… agencies and firms who relied on 1-2 big clients to pay the bills went under.
That’s because they had high client concentration.
And that was the death of a lot of businesses.
And as I’ve been saying all week, there is a RISK to carrying too much concentration.In investing terms, it’s like having a portfolio where you’ve put everything you have into real estate. Circa 2007.
So:
If you are relying on 1-2 clients, and you’d be in a really tough spot if they left, I want you to watch this.
