You're A Freelancer Who Lost Several Clients At Once. Now What?
Freelancing is hard. The roller coaster is wearing. And then it happens. You lose several clients all at once for a variety of reasons. You experienced what it was like to survive as a freelancer on your journey to sustainability, but it's a different situation when you regress back to survival mode after a season of success.
In an instant, it feels like your back to where you started. Depression sets in and doubt creeps your way as you begin pondering if you have what it takes. So where do you go from here?
If you fully commit to making this work (pursue new clients instead of a new job), I've got five systems to help you move forward and minimize the risk of this happening again. It starts by planning with the expectation that these challenges will continually come your way.
Face Reality, & Plan Accordingly
Create An Emotional Support System
Another checkpoint from my first book, Path of The Freelancer, revolves around establishing an emotional support system. As prepared as we are, we can't do it alone and our strength and stamina don't negate our need for community and friendships.
If you're attempting to do life on your own, you're more likely to perpetually operate in survival mode. As a freelancer, isolation is a trap for future failure. Don't let this happen to you, get engaged with others. As the graphic above illustrates, we want around us, close friends, an extended circle of friends, local community, and a higher authority including God, mentors, and people we admire.
Freedom Requires Building Financial Margin
Over the seven years running my marketing company, I faced a spectrum of challenges and when I embraced freelancing as a vocation these learned lessons compelled me to establish healthy systems for preventing hard times and promoting flourishing.
In the spring of 2015, I had an emotionally and personally challenging few months. My hours dropped dramatically during those months but thankfully I had created a water tower system ($15k in cash flow) as a financial buffer. While the phase was stressful, this financial cushion was the difference between feeling stressed and outright crippling.
As part of freelancing or running a business, we need to accept the reality that there will be a roller coaster of success and famine and by accepting it, we can follow through on a plan to respond should it happen. If it doesn't happen, were better off. The weight of debt is a big part of why we’re aggressively paying off our van and student loan debt. Freedom comes with financial margin.
It's also mentally easier to respond to challenges when we expect them versus when we feel caught off guard. Having the metaphorical wind knocked out of us, leads to paralysis.
Whether it is the water tower system illustrated above and elaborated in Path of The Freelancer, or some other system for creating a cash buffer system, you'll want something to incubate yourself from the comedy and tragedy of the freelance path.
Active Rhythms of Rest and Release
Boundaries: Over-Investing With Prospects & Clients
Get Back Up & Keep Moving
Tags: Path Of The Freelancer