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 cleaning service Wilmette ..If your writing muscle isn't in shape, writing a novel... Read More
Every writer eventually develops her own unique style of writing.... Read More
Don't they drive you nuts?You can visit all the rules... Read More
Sometimes I can be dense when it comes to realizing... Read More
When most people consider writing a book, they don't think... Read More
"If you're like me, than I'm sure you're pretty familiar... Read More
If you either want to write a book to help... Read More
Clustering, also called Mind Mapping, is a great way to... Read More
Proofreading worksheets are a great tool to help individuals open... Read More
Questions and answers on writing life experiences for ourselves and... Read More
A good white paper is a paper that makes you... Read More
Why is it that so many people don't take writing-as-a-job... Read More
Recently I was watching the Oprah show and it was... Read More
Short Story Writing Tips -We've established what a title should... Read More
What is a prologue? When should you use one? Should... Read More
Whether you're interviewing for a new job, trying to woo... Read More
A UK based freelance proofreader should be able to provide... Read More
Good writing is like sex. Two people are involved ?... Read More
Kallu was a tenant of Santosh Kumar Nayak. Santosh Kumar... Read More
What am I going to write about?Which topic is the... Read More
Creative Writing Tips ?We all tackle plotting differently. How you... Read More
Be careful when you write.Words you use, sentences you phrase... Read More
Typically when falling asleep in bed at night great thoughts... Read More
Mix a martini, don't forget the olives, or pour yourself... Read More
Being a great writer is no longer enough if you... Read More
reliable maid service Morton Grove ..Next time you're tempted to use italics for emphasis... STOP!"Why?"... Read More
Dr. Phil's Life Strategies, #1 New York Times Bestseller catches... Read More
There's a little known secret we writers like to keep... Read More
As in all endeavors, toil is necessary to succeed and... Read More
You're writing a story set in your local city, but... Read More
Ever wondered how the most successful children's book writers get... Read More
Creative Writing Tips ?It should.A theme is a one-line explanation... Read More
I recently read a book where everything was akimbo. Arms... Read More
All sales begin with some form of advertising whether it's... Read More
1. Turning your idea into a bookWith non-fiction books the... Read More
Our Freelance Writing Needs DefinedWe must make freelance niche types... Read More
Creative Writing Tips ?You are plotting the story. You write... Read More
You've decided to write your very own Newsletter to promote... Read More
One day in the mid-1970's a young man stumbled into... Read More
Mix a martini, don't forget the olives, or pour yourself... Read More
The following answer sounds simplistic?but think about it. The single... Read More
Creating written documents reveals so much about you and your... Read More
"I don't know if I should put 'writer' on my... Read More
I went to school to be a teacher. In fact,... Read More
Writing engaging articles and energizing ad copy takes... Read More
It never ceases to amaze me when a prospective writer... Read More
Hands up all those who'd like to have a successful... Read More
Having problems writing? I don't know why. San Francisco Chronicle... Read More
A UK based freelance proofreader should be able to provide... Read More
Everybody knows writing a story is not easy. Like the... Read More
Writing |