Last month the Downtown Women’s Club hosted Michelle Goodman, author of My So-Called Freelance Life: How to Survive and Thrive as a Creative Professional for Hire, on a DWC+ Teleclass, and I’m making it this month’s “quick pick.”
Right off the bat I asked Goodman what’s different about freelancing in this economy? Her answer: The basics are pretty much the same, you just need to ramp up and fine-tune your efforts. In other words, anyone who has all her “ducks in a row”–meaning contracts ready to go, marketing plan in place, health care and a business plan–is in a better position to do well.
Why? Because she won’t waste time with that while haphazardly chasing clients and potentially taking on business that’s outside her business plan. In desperate times, we tend to act out of desperation; therefore, business plans are necessary to keep ourselves on track.
In addition, if an opportunity comes up in this market, you need to jump on it ASAP. Paying clients are not going to sit around waiting for you to get a proposal to them. Have it ready to go.
So if you’re one of these freelancing folks who has been flying by the seat of your pants or dependant upon a single client, you should definitely pick up Goodman’s book. It’s a great overview of how to get your freelancing work operating like a business quickly, so that you can focus on getting new business. Goodman covers everything you need to know, and it’s a fun and easy read.
In the meantime, for the rest of you, here are a few tidbits we learned in the teleclass about freelancing in a down economy:
1. Make yourself more marketable.
- Be diverse (skills, subcontracting, fields of expertise, different technologies)
- Be flexible
- Be timely (jump on opportunities/trends, etc.)
2. Projects to avoid:
- Those that are below your minimum price
- Those that pay in promotion
- Clients whose companies are shaky
- Clients whom you can’t pin down to parameters
3. Counterintuitive networking
- Learn from other freelancers.
- Find them in person or on Twitter, Facebook, etc.
6 Responses to “Freelancing in a Down Economy”
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March 6th, 2009 at 2:24 pm
[...] Retirement Watch – InvestorsInsight Publishing added an interesting post on Freelancing in a Down EconomyHere’s a small excerpt…who has all her “ducks in a row”–meaning contracts ready to go, marketing plan in place, Bhealth/B Bcare/B and a business plan–is in a… [...]
March 7th, 2009 at 12:50 pm
Cheers for freelancing tips Diane.
March 11th, 2009 at 2:38 am
[...] regardless of the economy. It might as well be you! Entrepreneur magazine has a great interview with Michelle Goodman, author of My So Called Freelance Life, who says that being ready is key. [...]
March 29th, 2009 at 7:53 pm
Wilson
Your topic Budgeting for Next Year – FreelanceSwitch – The Freelance Blog was interesting when I found it on Sunday when I searching for small business subcontracting plan”
March 31st, 2009 at 9:55 am
Thank you Diane these tips sure are very useful.
~~~~~VA in the Making~~~~~~
March 31st, 2009 at 9:56 am
Thanks Diane for these very useful tips……