Dealing with slow periods is a reality for freelancers in nearly any industry. Knowing how to handle these slow months is important in overcoming these difficult times. The feast and famine cycle is an all too common situation for many freelancers, as knowing how to manage the ever-changing demands for your services is key to reaching long-term success.
Here are some tips to remember to help you handle these periods of uncertainty.
Prepare Ahead of Time
It’s often easy to panic if you are going long periods without any consistent work. Preparing ahead of time for slow periods is essential in weathering these difficult moments. Saving up money for difficult times is especially important for freelancers due to the uncertainty of the industry. It’s often recommended to have enough money to cover at least six months of expenses to give you more flexibility.
Update Your Portfolio
One of the advantages of things slowing down as a freelancer is that it gives you a lot more time to focus on other areas of your business. For example, now is a great time to update your portfolio with new content or even redesign your website. Focusing on a content marketing strategy can even help you reach new customers in the future, whether it’s uploading videos on social media or writing weekly blog posts.
Add Different Streams of Income
Sometimes it’s not possible to wait on new or existing clients, especially if your money is already tight. Adding new streams of income can help you weather the uncertainty of a dry period, such as working a part-time job. You might even want to try different platforms to help you find new clients. Freelancing gives you the flexibility to try out different jobs, as you can always switch things up to best meet your needs.
Look at Ways to Improve
Working on yourself by finding ways to improve your services can pay off in the long term. For example, maybe you want to enroll in a course to elevate your existing skill set. You might even join a community of other freelancers online to help you grow and even learn more about your industry. Focusing on ways to improve your services is a great way to stand out from the crowd while making it easier for you to attract and retain new clients.
Dealing with the ups and downs of freelancing is a reality for anyone that spends any extended amount of time in the industry. Knowing how to handle these slow periods is key to building a sustainable business model. Preparing ahead of time by saving money is a necessity in helping you overcome these challenging times. Updating your portfolio with new content and always looking at ways to improve your services can also be helpful. You may even need to find other streams of income to help you through a slow period. Knowing how to weather these storms while staying resilient during these tough times is a necessary skill for building a successful career as a freelancer.