"Losing" clients is part of Consulting
Chip, thanks for bringing this topic up. Consulting (or contracting) by its very nature is project-centric, which by definition has a definite end. Depending on your focus (and aptitude), every engagement may be a single event, with little or no reason for the client to retain your services once the job is complete -- especially if you do an exemplary job. With rare exceptions over a 30 year history, this is how my practice runs. You are fortunate your offering meets a need some customers have repeated and continuous use for.
Regardless, your points about having cash reserves available to ride out the inevitable slow periods and that effort to secure new business while delivering on existing contracts must be expended are on the mark and whose importance can't be overemphasized.
