Friday, April 30, 2010
Does Size Matter? How Many Clients do You Think You Need?
6:00 AM
Some freelance writers are under the impression they need 50+ clients to make a comfortable living as a freelance writer. If you'd like to manage 50, 100, 200, or 500 clients, go for it! If you'd like to have five to 10 solid clients you could easily manage, start looking for them. Size really doesn't matter. What matters is that you have solid clients that pay you on time, treat you well, and give you work that is aligned with your passions and interests.
Many people become overwhelmed with becoming a freelance writer because they believe they
need more than 10 clients to make a great living. This is not true. If you find five great cl
ients who pay your rate without batting an eyelash, you struck gold. If those clients continue to utilize you and pay your rates when you increase them, you struck gold. It's a matter of whether you see the glass half full or half empty.There's nothing wrong with having 100 clients as long as you can manage all of them successfully. This is where creating a schedule will help you ensure you complete your projects on time. You may have to work 40 or more hours per week to complete your writing.
Having more than 10 clients could result in you hiring other writers to help you out. Are you ready for this next step in your freelance writing career? Actually, you'll be getting away from freelance writing and becoming a boss! The point of freelance writing is to be your own boss and not manage people. How do you feel about hiring one or two writers to help you? Will you be able to give up control? How good are you at managing people? What if your writers telecommute? You may want to consider these and other questions before you take your freelance writing business to the next level.
Before you begin freelance writing, you may want to think about your goals. Do you want to have five to 10 solid clients or do you want to go full force and attract 50 or more clients? If you're not ready for more than five clients, think about where you'd like to be in five years. Yes, it's the dreaded "where do you see yourself in five years?" question, but it could help you determine the direction of your freelance writing business. There's no right or wrong answer. Do what you feel is best for you and your writing will take-off!
Does Size Matter? How Many Clients do You Think You Need?
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2 comments:
Interesting post, Rebecca! I guess I fall somewhere inbetween - I probably have more than 10 clients, but I don't work them all at the same time. In a typical month I'm probably active with 6 or 8 clients...but you need relationships with many more than that, because some months somebody doesn't have anything, and then you have other established clients you can get back in touch with to fill in your schedule.
100 clients would be insane! Like you say, then you're an agency, which is a whole different business. I worked for a guy who'd been a successful freelancer and decided to grow and become more of an agency model, and it was a TOTAL disaster, he ended up firing everyone he worked with and was too stressed out and a raving lunatic, and also not ready to really delegate anything.
Unless you have a business-management background, a better way to grow your business is just to keep replacing your existing clients with increasingly better-paying clients, and/or bigger clients -- bigger publications or companies, where they have more work to assign at a high rate.
I'm earning nearly $10k this month from maybe 7-8 clients...so you don't need a lot of clients to earn well! At the same time I probably have several more clients that were dormant that month and I didn't do anything for them. So you need a bigger stable, but you don't need a lot of clients each month.
The key is to just keep prospecting, and as you find better clients you add them and drop whoever paid least. Lather, rinse, repeat.
I know I couldn't handle 50+ without having a staff to help me out. I think 5-20 clients would be manageable.
Congrats on earning $10k/month! That's my target number and then some.
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