This is a tough question for every freelance writer. For me, the worst working scenario is when a few weeks go by and all my work comprises one-off jobs for small clients who never become repeat customers.
It takes a lot of time finding and developing each new client. That means lots of unbillable hours.
My best scenario is to have three to five repeat clients I can pretty much depend on for work each month. Plus one or two new clients who may or may not turn into repeat customers.
That way, if you lose one repeat client, you're not in big trouble. You have your other regular clients, plus some more prospects in the 'hopper'.
>> The two danger scenarios
It is dangerous for you when you have too few clients. I found myself in this situation a couple of years ago. I had one client that was worth over $10,000 a month to me. The result was that they took up a lot of my time and I found myself with very little free time to develop new clients. I had other work, but this one client took up a significant proportion of my time.
And yes, one day I got that phone call and, due to a change in management, I ended up losing their business. Suddenly I had a big hole in my income and it took me quite some time to fill it up again.
Should I have declined the one large client? I don't think so. Not for that kind of money, month after month. But I was always aware of the danger I was in.
The other danger scenario is when you have too many small clients, and too few are repeat clients. As I mentioned above, multiple one-time clients eat into your billable hours.
You need to be honest with yourself about the profitability of each job and client. Every client and every job you do results in time spent on administration, accounting, email and phone calls. Not to mention the time and expense involved in finding that client and job in the first place.
>> Aim for the perfect balance
You'll be lucky if you can do it all the time, but if you can work with a handful of good, repeat customers, that's the best position to be in.
If you have too few clients and don't have the time to develop new ones, take that as a danger signal. You could suddenly lose a big chunk of your income.
If you have too many one-time clients, take that as a danger signal too. You may be working long hours, but not billing a high enough proportion of those hours.
Can we always sustain the perfect balance? No, but we can try.
Nick Usborne is a freelance writer, author, speaker and advocate of good writing. You'll find more articles and resources on how to make money as a freelance writer at his Freelance Writing Success site.
Sometimes I can be dense when it comes to realizing... Read More
The Big IdeaOkay. So youve figured out that you would... Read More
Peter Abrahams is the author of thirteen novels, including "The... Read More
The biggest mistake authors make when trying to get free... Read More
Not long ago, I took stock of my unrealized desire... Read More
You may wonder why I have chosen this title of... Read More
"No one will ever know who I am, I'm a... Read More
Working on my first humorous novel, I started with a... Read More
Based on the feedback that I have been getting from... Read More
What is this annoying, insidious angst that permeates my psyche?... Read More
Recently I was watching the Oprah show and it was... Read More
Writing is a muscle that needs exercise to stay in... Read More
Maybe you should write a book! This is not as... Read More
Writer's block! Even columnist Dave Berry has it. He admits... Read More
You can create a great headline, a dynamic first sentence,... Read More
Reading through a writer's notebook or journal is like discovering... Read More
If you are a serious writer who wants to publish... Read More
Chaos and confusion come when established rules and procedures are... Read More
More and more good authors are turning to the Internet... Read More
Not long ago, I went to an Internet Marketing Seminar.... Read More
Whether you keep a separate spiritual journal or just want... Read More
I've seen it time and again. One of the most... Read More
Freewriting is a release from the prison of rules. It... Read More
Far too many inexperienced writers create flat, stereotypical characters: the... Read More
Writing better is critical for students. But it's even more... Read More
A writer writes. Bet you've heard that one... Read More
Back in my school days, if the teacher demanded a... Read More
My bookcase take up one whole wall in the family... Read More
Ever wonder what an author's life is like? What that... Read More
All the famous writers I heard of could paper the... Read More
Les Edgerton writes in his book, Finding Your Voice, that... Read More
Before I became a teacher, I was a sports writer.... Read More
Everyone has a unique story to tell. From explaining business... Read More
Self-examination sheds light on a writers motives, goals, and aspirations,... Read More
One obvious question that can get overlooked in the process... Read More
Every writer eventually develops her own unique style of writing.... Read More
Among the various foolproof methods used to boost traffic to... Read More
The following rules are essential if you want people to... Read More
A few days ago, I critiqued a chapter for a... Read More
At first, I noticed that I could have written many... Read More
Typically when falling asleep in bed at night great thoughts... Read More
User documentation is all too often written by programmers for... Read More
11 Secrets from an Experienced InterviewerOne of the unwritten rules... Read More
Writers are an insecure lot.It's easy to understand why. You... Read More
Writing is a personal and introspective process. To share with... Read More
So many clients come to me as a book or... Read More
Hundreds of writing contests tempt screenwriters with the lure of... Read More
Want to write an article or book, but are stuck... Read More
For several years before I left teaching to write full... Read More
As an editorial professional, I'm sure you're aware of the... Read More
Creative Writing Tips ?What a plot is and what a... Read More
If your writing muscle isn't in shape, writing a novel... Read More
Taming the Book Proposal: The BasicsOh, that most maddening of... Read More
Business etiquette is fundamentally concerned with building relationships founded upon... Read More
Today it begins.I have always known I was a freelancer.... Read More
One of the best ways to blow someone's winning streak... Read More
Often, time is an enemy of writers. Sales seem slow... Read More
Short Story Writing Tips:Your title is your selling tool. It's... Read More
Without denigrating the work and contribution of Syd Field to... Read More
No matter what your fifth-grade English teacher says, some grammar... Read More
Creative Writing Tips ?We all tackle plotting differently. How you... Read More
Beyond three and four act story structure, lies the Hero's... Read More
"This is just brilliant. The whole interview is incredible? I'm?... Read More
Wired Online has recently announced its plans to drop capitalization... Read More
If you are looking for copywriter books, you'll want to... Read More
What does one do as a writer who loves writing... Read More
Writing |