Every month we run through a series of questions to help you run your freelance business like a bigger business—“self-coaching” your way to better results and a better life. You can view a condensed version of this month’s coaching prompts here. 

Hey!

It’s CEO month, and in the BF Mastermind, that means we’re doing our semi-annual self assessment. (You can copy the file here if you haven’t yet.)

It covers a range of questions, but for July, we’re going to walk through some ways to apply your answers from the “Your Clients” section of the spreadsheet. Here’s a look at the questions we’ll be working with. 

• Who’s your favorite client and why? 
• Who’s your least favorite? 
• Who’s your most profitable client? 
• Who’s your least profitable? 

The thing about these questions, is that the answers are powerful clues to the strategic direction of your freelance business. So let’s get into it!

#4 Who’s my least profitable client?

This is a tricky question to sit with, because often, your most profitable client is also your least. Here’s what I mean. 

Sometimes, a client can be paying you less for your effort (per hour, piece, or emotional/mental input), but sending a ton of work. This means that, on paper, they’re contributing a lot to your cash flows…but they’re also potentially taking up room from other clients that could you paying you more for less effort. 

When examining your least profitable work, I’m a big proponent of including anybody that simply pays less for your labor. 

What it tells you

This answer can be a big clue into areas where you’re compromising goals, where you might be stagnant, where you made strategic decisions, or where you’ve simply outgrown a relationship. 

How it can impact your strategy

This answer is going to vary depending on why you’re still with this type of client…the most important point is that you always have a good reason to keep them on, and that they’re not holding you back from a strategy that impacts your life positively. 

If you’ve got questions on how to pull valuable information from less-than-profitable clients, come by the Academy Facebook group and let's work it out together!