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.
professional maid services Park Ridge ..Chaos and confusion come when established rules and procedures are... Read More
Beyond three and four act story structure, lies the Hero's... Read More
Part 1 of this article discussed the experience you need... Read More
Recently, I was hunting for a book that would simply... Read More
In one of the exercises in my "Getting Started as... Read More
When a writer is working on their next literary masterpiece... Read More
|| Graphology & Graphotherapy ||Everybody wants to know more about... Read More
Traditionally, business writing uses the "one thing after another" format,... Read More
"If you want to change your life," Harry Beckwith wrote... Read More
Before I became a teacher, I was a sports writer.... Read More
Let's Discuss Publisher Ethics:If you are an ezine publisher or... Read More
There are many ways you can generate ideas you can... Read More
Think of writing like karate...it's about DISCIPLINE.Writing, like other forms... Read More
There is an image most people carry of the artist... Read More
Connectors -- conjunctions, punctuation, and transitional phrases -- allow readers... Read More
Creative Writing Tips ?Our plotting stage is our testing area.Everything... Read More
This article is to help identify which style, technique or... Read More
I am sure that at in some era, at some... Read More
If you dread the thought of writing, if you fear... Read More
There's nothing that kills a scene like hackneyed dialogue. Just... Read More
You may wonder why I have chosen this title of... Read More
There are various forms of structure, including frameworks, work processes... Read More
You're writing a story set in your local city, but... Read More
Everyone has a unique story to tell. From explaining business... Read More
To capitalize on ways to make extra income you can... Read More
cleaning lady near Lincolnshire ..Writing can be more difficult that just compiling your thoughts... Read More
Okay. So I'm not David Letterman. But I doubt if... Read More
Wired Online has recently announced its plans to drop capitalization... Read More
Written communication is often the first impression you make on... Read More
There is a psychological nuisance so powerful that can deflate... Read More
Listen, consider this scenario.You have a deadline to honour. Time... Read More
Arrogance has a bad rap. We think of arrogant people... Read More
A frequent conversation I have with my writing clients is... Read More
A certified proofreader is one that has taken a few... Read More
If you're targeting an educated, more affluent audience with your... Read More
Ah, writing. For those of us who love to play... Read More
My husband is no poet, so when I offer my... Read More
Freelance writer STANLEY BURKHARDT has a passion for animals. He... Read More
Every writer expends a great deal of creative energy developing... Read More
Writer's Block can strike like a King Cobra, paralyzing every... Read More
Tips for your writing journeySo, you'd like to be a... Read More
Characters in a good novel really carry the story along... Read More
I started writing as a way of keeping safe memories... Read More
If your cash is running out fast and you have... Read More
Reading through a writer's notebook or journal is like discovering... Read More
Quite a few years ago, I enrolled in a Degree... Read More
Everyone has a unique story to tell. From explaining business... Read More
Every part of your book can be a sales tool.... Read More
Before I became a teacher, I was a sports writer.... Read More
Agents and publishing houses have their best interests at heart,... Read More
Writing |