Tuesday, September 27, 2022

Freelancers: The Importance of Diversifying Your Client Base

Like my last post, this post is more for other freelancers, although some clients may find it applicable to them as well.

As a freelancer (or any small business person, really), it's important never to focus all of your work in one place.  Freelancing is about working for more than one client, after all, as working for just one employer would be essentially full-time employment without any of the benefits - and what's the point in that?

More importantly, though, spreading out your work between many clients is what protects your livelihood.  If you work for many clients, even if they are repeat clients, you have a buffer if you should lose one.  Yes, you might miss that income and you might have a tight month or two if it takes you a while to replace the lost work, but you will still have your other clients.  It's the modern-world equivalent of putting your eggs in more than one basket.

This is also why marketing is important for freelancers, as I discussed in the last post.  If you're marketing regularly, you should have some work already lined up.  Plus, if you're marketing on a weekly or even daily basis, you may even be able to fill the opening before you get through the queue and start to feel the pinch from the lost client.

Diversifying also has one other benefit that isn't often discussed: It helps protect you from burnout.  It's really easy to get burnt out when you're writing too much of the same thing all the time.  One of the benefits of freelancing is that we have a little more power over what we choose to write, so exercise that power, and make choices that keep the work interesting to you.

It takes a dedicated freelancer to juggle regular marketing plus multiple clients and a project queue, or perhaps I should say a dedicated small business person and entrepreneur - as that is what we are, after all.  If you feel overwhelmed by the many hats you have to wear as a freelancer, or if you worry that you don't have the skills to juggle all of this, find some productivity tools (like these that I suggested not too long ago) that will help you accomplish what you need to do to freelance successfully.

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