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.
recurring maid service Wilmette ..Do you consider yourself a storyteller? Do you consider yourself... Read More
As an editorial professional, I'm sure you're aware of the... Read More
Be careful when you write.Words you use, sentences you phrase... Read More
Creative Writing Tips ?The writer, who doesn't have the time... Read More
When I asked new ezine subscribers, "What is your Number... Read More
At some point, every serious writer is forced to sit... Read More
What Makes a Great Headline?Headlines are far more important than... Read More
The urge to write fiction seems God given for some,... Read More
If you either want to write a book to help... Read More
I'm willing to bet that quite a number of you... Read More
If you are an aspiring writer, or you simply want... Read More
The Internet has truly revolutionized the careers of writers worldwide.... Read More
The Blogfest 2005 Writing Contest has only been running for... Read More
If you are a serious writer who wants to publish... Read More
You sink back into your favourite chair with a new... Read More
It's clich?, but true-a picture does paint a thousand words.... Read More
A book coaching client recently emailed me that she was... Read More
I just finished to read a book. A story for... Read More
What am I supposed to give Anthony as a wedding... Read More
Everone knows that comedy is mostly about timing. If you... Read More
I recently set up a website to promote a new... Read More
There are so many ways for writers to make good... Read More
10 - You will always have a job. As long... Read More
Finding the time to write a novel is one of... Read More
My Dad has this old joke that goes, "What's the... Read More
last minute cleaning help Highland Park ..1) Convince yourself you want to do something else. If... Read More
The journey to having my first novel for children published... Read More
Many of us have always wanted to write. We have... Read More
Chaos and confusion come when established rules and procedures are... Read More
Word processors are so widely used now that I tend... Read More
You have just completed a draft of an article. It... Read More
A good white paper is a paper that makes you... Read More
Concision. (Sounds like I made up another word.) It's the... Read More
Open up your favorite calendar and circle today's date.Why? Because... Read More
Think you can't write a book that will sell? You... Read More
Next time you're tempted to use italics for emphasis... STOP!"Why?"... Read More
One obvious question that can get overlooked in the process... Read More
Each author has special editing needs. To save yourself time... Read More
ISBN stands for International Standard Book Number. It is a... Read More
A book coaching client recently emailed me that she was... Read More
If your articles aren't getting published very often, or you... Read More
The purpose of this article is to consider Print-On-Demand publishing... Read More
How do you describe a scene without slowing down the... Read More
(Skip directly to ten for the fastest shortcut!)Like any field,... Read More
I have added a new word to my vocabulary. Logorrhea.... Read More
9 out of 10 professionals and small business owners have... Read More
If you're getting rejections from your submissions, please don't quit... Read More
Op-ed articles, also known as opinion/editorial articles, are a great... Read More
Technology vendors often contribute bylined articles to trade journals. The... Read More
The following rules are essential if you want people to... Read More
Writing |