Though I have written numerous articles about freelancing, I have shied away from the click-bait (ish) headlines of "How I Made 5k a Month From Home" articles. Last month, I made 6k, but I don't have a magic formula to tell you how to repeat that success. I haven't even learned how to repeat it on a dependable basis, which is the purpose of this article.

I staggered into a freelance career, which you can read about below. That said, I have spent over a year working hard to continue growing my career and client base.

There have been more 15 hour days than I would like to admit, and I once went two months without taking a single day off. I do not recommend you follow those suggestions.

Now, I find my goals shifting. There are two things I want from my career. I want to earn more while working less. Of course, I know hard work will still be part of the equation, but not the insane pace I have been keeping for the last few months. I also want to find a way to cultivate steady income streams.

I have some great long-term clients, but even those are not dependable income sources in this crazy economy. Two of my best clients hand out writing assignments at the first of the month.

One usually needs 8–12 blogs, the other about 20 for the month. The first client only has two on the board, while I have heard nothing from the second client.

The second client that has gone completely dark paid their last invoice around September 20th, and I have heard nothing since. There were no complaints about my work, nor did they ask for any revisions. I usually talk to them weekly and often get feedback, so this total silence is concerning.

As a freelancer, there is nothing as disconcerting as crickets from dependable clients. I sent the obligatory email inquiry asking if they had October content for me, and have not received a response yet. Given that this one client is responsible for approximately 1/3 of my total income, it is disconcerting.

Uncertainty is the real-life nitty-gritty of being a full-time freelance writer. I have no idea if I should be frantically hustling new clients to fill the gap or be patient and trust that once whatever caused the upset in communication resolves, they will return.

There is danger in replacing them. First, they are a great client that pays decently for content I enjoy writing. That isn't an easy combination to replace. Second, if I take on a new client in their place, what do I do if they return with more work than ever? I have had that scenario happen in the past, and that was the source of most of the 15 hour days I talked about earlier.

Risk Tolerance

If you want to be a freelance writer, I suggest you take a hard look at your risk tolerance. I have the luxury of not needing a dependable source of income. We are a two-earner household, and he can pay the bills.

That gives me freedom from worry about how my income will impact our day to day lives. If you do not have the same financial flexibility, I recommend pursuing multiple income streams, at least one of which does not involve the gig economy.

Understanding your risk tolerance is crucial when taking the leap to full-time freelancing. If you are risk-averse but want to work from home, other remote work avenues will give you the security of a dependable payday. Many companies allow employees to work remotely, and experts predict that remote work will continue to play a larger role in the job market, even after the pandemic.

Rate Your Clients

I take pride in giving each client the highest quality product I can produce, but the reality is that some clients are more valuable than others. During busy times, I may have to turn down work from clients to ensure I can continue to deliver the quality work I have staked my reputation on. So, I need to have a clear understanding of which clients are the most valuable.

Questions I ask myself to determine which clients I will prioritize when things get crazy include:

1. Do they provide a steady income stream?

2. How much do they pay?

3. Is it work I enjoy, or is it writing I do just for money?

4. Is the client comfortable to work with, or are they incredibly hard to please?

I take one-off projects when a new client approaches me for a one-time blog or a landing page re-write. First, these things provide a nice supplemental income, and it is also a chance to convert a one-time client into a client that returns again and again for more work.

That said, there will be times when you have to prioritize which assignments you can reasonably accept and make deadlines, and which would require you to sacrifice quality or your sanity.

Know When to Hustle New Clients — and When to Focus on Impressing Existing Clients

A few months ago, I had to make an incredibly hard decision to scale back work that I was doing for my longest-term client. I like this client, and I credit much of what I have learned about SEO, marketing, and copywriting to this client.

That said, they pay per-word is lower than any other client. I justified it for a long time because it was a steady source of income. However, I had new clients paying more and needed time to hustle more clients in my niche. I gave my oldest client plenty of notice, and I continue to provide specialty content for them.

My career had outgrown their maximum pay, but it was hard stepping away from that security blanket. At times like this, when things hit a sudden slowdown, I start to second-guess that decision. Did I get arrogant? Where the few great paying clients a fluke?

Recognize the Cycles

By now, I recognize the cycles of freelancing. Last month, I was overwhelmed and overworked. I had bitten off more than I could chew and had to hire extra freelancers to meet deadlines. Now, I find myself on the verge of panic because I am not working 15 hour days to keep up with demand.

Then I shake my head and write this article because I know that freelancing is a roller-coaster and not for the faint of heart. Instead of panic, I will use this slower time to write about things I enjoy.

I will give my missing client a week to see if they respond before I rush to fill the gap, and I will take on smaller projects that often lead to new contacts and new contracts.

My reason for freelancing is that it allows me to do what I love most, from wherever I choose to work. You don't get that kind of luxury without some ups and downs. I plan to use the slower time to strategize about different ideas for growing my business that I have had but have not had time to explore — until now.

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