Continuing our series on how an economic crisis might affect freelancers and contractors, Freelance Advisor and Web Marketing Consultant Leif Kendall gives us five freelancing tips for surviving in a recession.
Before I tell you how to literally work your way through a recession, or a credit crunch, or whatever we’re experiencing, I would like to confess that I’ve not freelanced through any past financial quagmires.
As with all Freelance Advisor blog posts, half the value is in readers’ contributions. Your comments add to the resource. So please comment (using the form below) if you have any top tips for surviving hard times.
Tip 1: Find more clients
Spreading your risk is crucial. You may have two great clients that throw tonnes of work your way, but if one or both of them go under then you’re screwed. Find more clients ASAP.
Tip 2: Make the most of what you’ve got
Are you good to your clients? You better be. As more people are made redundant, more potential freelancers enter the job market. If you want to avoid being swept away by these fresh freelancers, build strong relationships with your clients and look for new, better ways to help them.
Do you have a website? Actually, having a website isn’t enough. Do you have a website that people find, and people use to contact you through? If your website is a worthless heap of e-junk, consider optimising it. All websites can be put to work. Your website could become a valuable tool in the fight for survival.
Tip 3: Diversify
If you can offer clients new services, do. Expand your range. Publicise your new services. Create new identities. Growth doesn’t have to mean cost.
Tip 4: Meet people
Do you network? Make the most of every networking opportunity. Always have a business card to hand.
Tip 5: Control your costs, track your earnings
Book-keeping might sound dull, but without book-keeping you can’t have profit. Be reluctant to spend money unless the purchase brings a tangible benefit.
And if you really want to make yourself feel better (and/or rub it in) then the Broker’s With Hands On Their Faces Blog is well worth a few minutes of your attention.
– Wake up early! Start networking (replying to emails, reading blogs and Tweeting). This way, you will be top of the list when people get to the office
– Tuesday afternoons are best to call and email. If you missed the early call time, people are already in the midst of work by 10 a.m. But Tuesday afternoons, you catch them. Try it.
– Send Thank Yous! Send Thank Yous! Send Thank Yous! By regular mail. By regular mail. By regular mail!
Lots more. I’ve been freelancing for 9 years!
Alma Gray Oct 27, 2008 at 4:44 pm
Keep providing value to clients and prospects.
Whether it be blogs such as this one or informative/useful posts.
Michael Rose Oct 27, 2008 at 4:53 pm
Great advice Alma and Stefan!
I’ll try the Tuesday afternoon trick tomorrow :)
I love the idea of sending real Thank Yous in the post. I notice a lot of companies offer 50-100 business cards for free (you just pay postage) and I was toying with the idea of doing some cute THANK YOU cards for clients and customers. That and some other little gift would be a lovely little reminder of you and your services.
Michael Rose Oct 29, 2008 at 9:23 am
Our friends over at Freelance Folder have been covering this topic this week too.
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Oct 23, 2008
at 1:21 pm
Excellent post! Makes perfect sense / cents…
Oct 23, 2008
at 1:22 pm
Thanks Kerry.
What tips do you have?
Oct 27, 2008
at 1:22 pm
Useful information here. Mine:
– Wake up early! Start networking (replying to emails, reading blogs and Tweeting). This way, you will be top of the list when people get to the office
– Tuesday afternoons are best to call and email. If you missed the early call time, people are already in the midst of work by 10 a.m. But Tuesday afternoons, you catch them. Try it.
– Send Thank Yous! Send Thank Yous! Send Thank Yous! By regular mail. By regular mail. By regular mail!
Lots more. I’ve been freelancing for 9 years!
Oct 27, 2008
at 4:44 pm
Keep providing value to clients and prospects. Whether it be blogs such as this one or informative/useful posts.
Oct 27, 2008
at 4:53 pm
Great advice Alma and Stefan!
I’ll try the Tuesday afternoon trick tomorrow :)
I love the idea of sending real Thank Yous in the post. I notice a lot of companies offer 50-100 business cards for free (you just pay postage) and I was toying with the idea of doing some cute THANK YOU cards for clients and customers. That and some other little gift would be a lovely little reminder of you and your services.
Oct 29, 2008
at 9:23 am
Our friends over at Freelance Folder have been covering this topic this week too.
8 Ways Freelancers Can Survive In A Troubled Economy
Useful reading.
Oct 30, 2008
at 12:12 pm
getting a set of good business cards is something i will have to do in the next few days. perfect way for a potential client to keep you in mind
Oct 30, 2008
at 3:42 pm
Alex, you may want to check out the Get Yourself Useful Business Cards piece we ran in February.