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Nose-Diving into Economic Turmoil.

October 24, 2008

We are made to persist. That’s how we find out who we are. ~ Tobias Wolff

The economic recession. One could argue it’s the hottest topic on freelance blogs these days. Some are muttering low-toned warnings of hardships to come. Others are screaming – ready to abandon the freelance business like a bad date – unable to muster the courage to search for positive possibilities. And here I am, embracing it as I teeter on the tip of the diving board, ready to fall into a sea of uncertaintyI could sink or swim.  How can I even consider pursuing this career in its beginning stages when our financial grounding is so unreliable? I’ll tell you.

Men with Pens wrote this fabulous post about recessions being a good time to start up a business, and I agree with them.  So hold onto your quizzical stares and gaping mouths for just a moment.

I bet your current corporate job isn’t ‘secure’ either. Not only is the freelance business ‘iffy’ as far as financial security, but that steady office job you may rely on isn’t either.  In fact, you’re always at risk when your ability to work and make a decent income is dependent on someone else.  The economy has just served to worsen the situation due to increased lay-offs and more companies deciding to outsource rather than pay full-time employees that require extra compensation.  And in the freelance business, you can’t get laid off.  The only one in charge of your success is number one…you.

Freelancers generally have multiple streams and sources of income, not just one. If you work for a company that is going under, they’re all you have.  They sink, you sink.  However, most freelancers have multiple sources and streams of income…if one deteriorates, so what?  You will have other clients to rely on and in the meantime you can start marketing for new clients.

It’s cheaper for companies to hire freelancers than employees. In-house staff will decrease, giving freelancers more opportunities to get work.  Work still needs to get done, companies are still buying, and freelancers are the cheapest option.  More outsourcing means more work for freelancers, and more work means more money.

Freelancers aren’t new to marketing themselves, selling themselves, and relishing that entrepreneurial spirit. We’re flexible by nature, and marketing and selling ourselves is one of the biggest aspects of the business.  This gives us all an advantage over people who have been long-term employees and aren’t used to having to continuously search for employment.  Furthermore, many freelancers are taking advantage of the people in this situation by offering their resume writing skills up for grabs during a time when job-searchers desire any little extra ‘bling’ that will set them apart from the competition.

There’s a higher demand for marketing materials. Due to the recession, many companies are revving up their marketing output.  This will give copywriters a chance to increase their own business by helping struggling companies regain the cutting edge they need to continue being successful and rise above competing businesses.

So don’t push the panic button just yet.  Increase your marketing efforts, try to put a little more into savings, but take advantage of what opportunities are there.  And they are there…you just have to be open to them.

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3 comments

  1. thank you, nice informations


  2. Thanks for a little good news in the midst of all the bad!


  3. Ah, optimism is one of my strong points!



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