Some challenges do not show up on invoices. Disputes, unclear agreements, and misunderstandings quietly eat up your time and focus. Which one of these invisible problems slowed your business down the most?
What problem drained your energy more than your money?
byu/SaadMalik12 inEntrepreneur
Posted by SaadMalik12
5 Comments
The ex.
Dealing with clients who constantly change their mind halfway through projects – like bro we already agreed on the scope, now you want to add 47 different features and act surprised when I mention additional costs
Attrition, both freelancers and employees is one of the biggest ‘silent’ costs any business faces
The three points you mention in your post are core drivers to said attrition but you haven’t mentioned the cost of replacing and engaging new people
I use the following guidelines with my clients right now (Tech):
1. Attrition currently sits at around 33% in 90days
2. Employees cost, on average, around £5k to replace
3. Freelancers cost, on average, 8-10 hours of founders time to replace
It’s the replacement of freelancers/contractors that surprises founders the most
Great question OP, thank you for posting, i take it this is something you have personally experienced?
Disputes are the biggest energy drain; they take your focus away from actual work.
Knowing my insurance setup through USA Business Insurance Services, Inc.helped prevent a lot of unnecessary stress.