What You Need to do in Order to Survive the Recession


pennies1If you thought working from home was easy money - obviously, you thought wrong. Often, there are more working hours involved than there would have been while working in an office. And initially, the pay isn't all that great either. It may take years to succeed as a freelancer and even then, the sources of income through writing are not secure.

Remember: A regular client is not a permanent client.

2008 has been a nightmare for newspapers, magazines and other publications. The competition for online jobs is becoming fierce and there's no guarantee that your primary clients won't be affected by the recession. You may have a large client base and won't be affected much if a couple of your clients stopped sending work your way. But what if that happened with most of them? Don't make the mistake of thinking that you're safe just because you're working with big names.

Tighten your safety net.

To avoid feeling the pinch when or if your client base takes a hit, it is important to diversify your income stream. Know, that while you may be swamped with work at the moment it might not hold true in the future. Start getting prepared for it by looking into alternative sources. If you write primarily for newspapers or magazines (kudos to you if you're still getting most of your work from them) then think about online publication. Keep an eye on the Mediabistro newsletter for publications that may be shutting down, going online completely or even doing well. Don't let it depress you though.

Don't look down on low paying jobs.

This does not mean that you work for pennies. It simply means that you should think about setting aside 30 minutes to do something you wouldn't normally think of taking up because the money doesn't match what you're making per hour or per project. If it doesn't take much effort, consider taking the work and keep the money earned from it in an emergency or contingent fund.

Don't let the word 'recession' bring you down.

Recession is as much bad economy as it is a mind set. If you panic and start hyperventilating your freelancing business, you're going to hit rocky ground. Keep your head cool, plan ahead of time and remember, there is always a way out of a bad situation. Oh, and be flexible!

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