You may have heard me whine talk about how busy my workdays have been lately. Because I’ve recently added two new clients to the stable, it’s been interesting trying to please them and keep up with the work that was there before they reached out.
I was just able to keep up with all the work that was there before. Then suddenly, I had not one, but two new clients, and they are giving me multiple projects per month. These clients are also paying my rate, so I’m eager to please them.
Any freelancer in this situation would be tempted to drop the clients who show up now and then and simply concentrate on the ones that are here right now, funneling lots of work and cash in one’s direction. And that would be a mistake.
A big mistake.
On Michelle Garrett’s #FreelanceChat last week, someone even brought this type of scenario up. A writer was lamenting how it would be nice to have one steady client and no hassle.
Honey, that’s called an employer. In the freelance world, it’s called business suicide. Here’s why:
When I was on staff at a magazine, there was this up-and-coming company in the insurance circles that was just growing and getting name recognition all over the place. They went from unknown to top-of-mind in just a few months, thanks to some pretty savvy marketing on their part.
However, that’s where their savvy streak ends. For they landed a large client — one that made up nearly half of their business — and within a year, the company was out of business.
They had sunk all their efforts into this one client. And when the client went elsewhere, they couldn’t make payroll.
What did they do wrong? My guess is they didn’t have any plan in place for rapid growth, meaning if the work came streaming in, existing employees wouldn’t be able to go home. Or sleep. They didn’t know how to handle that newfound success, which, quite frankly, can do in your own freelance business in a heartbeat.
[bctt tweet=”Don’t let one #freelancewriting client make up the majority of your client work.” username=”LoriWidmer”]
Freelancers like us have to protect against the monopolizing of our workdays, which we’d talked about in this post.
But how do you take on more clients and keep a healthy balance? I have (or had until recently) a client mix like this:
- Monthly magazine piece – 1 client
- Monthly/twice-monthly articles – 2 clients
- Monthly or bimonthly pieces -2 clients
- Infrequent projects – 3 clients
- Quarterly projects -1 client
That was manageable. That’s also nine clients, so you can have more clients in your corner at the same time. As you notice, there are four clients who show up randomly and infrequently. They still show up, but I don’t have to work around the other five clients’ work as often. So as long as they’re not all looking for you to turn around something in a day or two, you can handle it.
So I say to opt for a mix of clients that will give you regular work, less frequent work, and the predictable work that comes at specific, longer intervals.
Writers, how many clients do you work with currently?
How many would you like to be working with?
What seems to be your ideal client mix?
4 responses to “The Freelance Client Balancing Act”
Morning, Lori.
Very interesting. I simply can’t imagine taking on new clients!
Today’s column is a variation on what we were talking about last week, whether it’s wise to stop marketing and stop accepting new clients. My mix:
Monthly website copy (eight short articles) plus moderating a webinar – 1 client
Weekly newsletters (two different newsletters) – 1 client
Bimonthly magazine management/writing -1 client
Quarterly magazine management (two different magazines)-2 different departments in the same trade association
Now that I look at it, it doesn’t seem much. But I’m swamped!
I feel like this is a good mix of daily/weekly/monthly/bimonthly/quarterly work. But who knows?
Anyway, any of those clients could go away. And my fallback is that I’d go back to writing more frequently. I’ve had to turn away unplanned writing assignments, and I think I could go back to that with success.
“Eight short articles” just made my brain seize up a little. LOL
That list is work-heavy, Gabriella. Two newsletters is a LOT.
I like your back-up plan — writing more frequently. Same trade magazines, or somewhere else?
I’m seeing noise in the earnings reports that suggest next year’s insurance industry may be looking to cut back on projects. Losses are up, earnings are down. I’m banking these checks and hoping I can get through whatever comes next.
Me, too, on the banking checks.
Oh, I meant seven short articles! Used to be eight. Anyway, that does sound daunting, but I’ve been working with this client since 2008 and have a great system that allows me to knock out all the interviews in a day and then write in a day. You get pretty efficient when you’ve been doing this a while, right?
Backup plan for writing: Yep, trade magazines. I started in the real estate space, so I’ve got that niche. But being a lawyer gives me a double niche, indeed a unique one. That should help.
But really? I want to retire? Can you do a post on how freelancers know when to retire? 🙂 (Half kidding. I’m not yet there age wise and funding wise. But it’s really on my mind as I age.)
LOL I want to retire too, Gabriella. Same boat you’re in — how do you pull the plug, and when?
I’ll see if I can find someone to guest post on that topic. It’s time we talk about it, no?