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.
trusted cleaning company Lake Forest ..It's important to have a space set aside in your... Read More
You may wonder why I have chosen this title of... Read More
Rudolf Flesch, a specialist in writing skills, ran classes... Read More
The short-short story has been likened by some as being... Read More
Yes, you know your subject. You also need to think... Read More
Great writing transports one vicariously to realms that the reader... Read More
Want to write a how-to article but can't come up... Read More
Regardless of what sort of writer you are and how... Read More
Suspense novels, unlike any other genre, need fast starts. Fans... Read More
How many times have you forced yourself to sit in... Read More
A book coaching client recently emailed me that she was... Read More
Working on my first humorous novel, I started with a... Read More
Word processors are so widely used now that I tend... Read More
So, the decision is final. I am a writer.Actually, I... Read More
When you read a letter from someone, we are immediately... Read More
Are you ready to abandon your short stories? Before you... Read More
Concision. (Sounds like I made up another word.) It's the... Read More
Have you ever wondered why some people can make millions... Read More
Story Structure Templates are the fastest way to write screenplays.... Read More
Op-ed articles, also known as opinion/editorial articles, are a great... Read More
Creative Writing Tips ?We all tackle plotting differently. How you... Read More
1) Convince yourself you want to do something else. If... Read More
How do you choose a name? Do you put down... Read More
We all know people who ramble. They include every boring... Read More
Most writers are familiar with first and third points of... Read More
pet-friendly home cleaners Lincolnshire ..If you're getting rejections from your submissions, please don't quit... Read More
There is no specific formula for children's fiction. There are,... Read More
Being a great writer is no longer enough if you... Read More
It's important to have a space set aside in your... Read More
1. Make your goals achievable.By achievable, we mean realistic and... Read More
If you are an aspiring writer, or you simply want... Read More
Weather posting a page to your Website, writing a letter... Read More
I owe the completion and success of my book to... Read More
Last week I was having a quick browse on eBay... Read More
1. Use Logic: Check for External PressuresAre you under physical... Read More
Writing is a personal and introspective process. To share with... Read More
In the business of freelance writing, it's not enough to... Read More
It is satisfying to be a part of such a... Read More
Right off the bat, I want to say that there... Read More
Don't they drive you nuts?You can visit all the rules... Read More
(This excerpt is taken from my new writing workshop Writing... Read More
Writing is hard work, and like all hard work, one... Read More
Finding the time to write a novel is one of... Read More
A friend and I were talking the other day about... Read More
In this article you will find tips on: How to... Read More
When we think of writing it triggers many thoughts and... Read More
I just finished to read a book. A story for... Read More
May I tell you about a writing technique shared by... Read More
Far too many inexperienced writers create flat, stereotypical characters: the... Read More
Reading through a writer's notebook or journal is like discovering... Read More
Writing |