Today we’re going to talk about how to use the famine part of the freelancing cycle to inspire you to new business heights. This topic hits really close to home because I’ve been experiencing it pretty heavily lately. I’d love to blame snowmageddon, but if I’m honest with myself it’s probably more than that. I’m not a business school grad, and while I’m a fantastic copywriter and I’m great at marketing for other people, I’m not always so good at marketing myself.
There are lots of articles out on the internet about what to do to ride out the nasty feast and famine cycle when you run a small business. The problem is this: many of these articles assume that you’re already established, that you have significant savings, and that you have 20 years of experience. This isn’t me, and I’m willing to bet that it doesn’t describe many of you either.
When I started Cottage Copy, I had five years of experience with professional writing, no business experience, no savings (my old job barely paid enough to make basic bills), and zero contacts. I knew that I had exactly two small paychecks worth of money to make my business turn a profit, or I was done. I did it, but even though I’m making more than I was at my old job, it’s not always smooth sailing for me money-wise.
Many articles tell you to simply calm down and ride out the famine cycle: for some of us, that isn’t possible. We are still starting to save, but don’t have enough to make a difference. We have bills coming up and no cushion. For many small startups, this is the harsh reality. Cottage Copy is wildly successful for the time it’s been in existence, but it’s also a three month old business. There’s still a long way to go before I have six months worth of savings to ride this stuff out.
With all of this as a background, I’m going to give you some ways that I deal with the famine cycle. In my mind, it can defeat you or you can turn it around and use your fear and panic to get inspired to take some dramatic actions that you wouldn’t normally consider. Sometimes the negative emotions that the cycle brings out can lead you out of your comfort zone and make you take some actions that are high risk, but also highly lucrative.
During your next famine cycle, sit down and try these tactics to turn your desperation into inspired action.
Cold Email the Big Client:
This is a huge personal fear of mine, and I’ll be honest and admit that I only consider doing this when things get scary. After all, the idea of emailing someone out of the blue and telling them that you’d love to work for them is pretty terrifying to freelancers, especially if you’re just starting out. You could get laughed at, or rejected. Even worse, you could simply be ignored. The truth is, there are tons of companies that seem out of reach that could really use your services. We can all probably name at least five large companies that we love, but also also deficient in some areas. We can all also probably identify how we could help get rid of those deficiencies. Now, I’m not saying that you should go pitch yourself to Bill Gates if you’re just starting out, but some places that you find intimidating are also probably looking for your kind of service.
Next time you are scared about having no business and having no backup, try emailing that company you’d really love to work for. Most companies are willing to overlook the more traditional methods of employee evaluation when hiring freelancers: if you can prove that you can do the job well, obtain the desired results, and do it for a reasonable price, you’ve got a great chance of being hired by almost anybody.
Redo Your Website:
So many things fall by the wayside when we’re busy. Websites get stale, information becomes outdated, and we get behind on our blogs. Use your time to get your website in fantastic shape so it’s a showpiece for all the clients you’re trying to attract. Redo your testimonials page, reinvent your sales copy, or just fix all of your outdated information that may be turning off clients.
Get In Touch With Previous Clients:
Running a freelance business is sort of like dating: you want to be busy, but not too busy for the next person who asks. Many freelancers are accustomed to positioning themselves as busy successful people, even though they aren’t 100% of the time. There is no shame in politely asking around for business from old clients. If you’re really stuck with no work, try emailing some old clients who you have a good relationship with. More often than not, they will be thrilled to throw some work your way, and move forward on a project that they’ve also been stalled on! There is zero shame in admitting that you aren’t always booked three months in advance, even if it sometimes feels awkward. Many people will appreciate the opportunity, and so will your bank account.
Create A New Product:
When you’re going through a dry spell, it can feel like you’ve tapped out your market. Sometimes a fresh product can be exactly what you need to get going again. A new product launch doesn’t have to be earthshattering: sometimes it can be as simple as turning a combination of services into a new package, or coming up with a small service that serves as an introduction to what you do. Most of the time, these products don’t take a whole lot of work or marketing, but can really give your business a new life. By the time you’re back into the feast part of the cycle, you’ll be ahead and have another source of potential income.
These tips should give you some ways to reinvigorate your business during the down times, even if you don’t have much of a backup plan. Above all, don’t panic if you can help it. A bad week doesn’t mean the end of your business, and while it can make things uncomfortable for awhile (especially if you don’t have a savings cushion) you will be a more experienced business owner as a result.
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