Success in Sweatpants

In the current economic climate, with all the fear, uncertainty and doubt brought about by the numbers and the election campaign, I believe that the last thing any freelancer or free agent should do is react big and start changing things.

Clients are concerned, worried about their own businesses, maybe pulling back. But reacting to that by lowering prices (as I know some freelancers are doing) or simply panicking isn't the best way through this part of the river's rapids.

My great buddy and associate, Karen Swim, tee'd up a similar topic on our co-blog, and then podcasted about it…listen and enjoy.

Try thinking along these lines:

• Streamline operating expenses as much as possible. Especially look at all those recurring subscriptions that hit your credit card every month and dump the ones you're not using any more.
• Don't drop prices–when things go back up again you'll find yourself in a pickle.
• Instead of fiddling with prices, offer clear discounts. Early bird discounts, discounts for pre-purchase of blocks of time (or multiple units of some offer), long term client discount, and so on–there are lots of ways you can craft discounts that cut client's costs for your services without slashing your rate card.
• Package your services in easy-to-swallow ways.
• Offer fixed price deals when you can do so without incurring too much risk on your part.
• Team up with other freelancers to joint venture–even freelancers who might be considered competition. Karen and I, for example, could be thought of as competitors because we are in the same type of business, but we have worked together brilliantly in many many instances.

I hope this list sparks your ideas and suggestions…and please tell me what you are doing in your freelance/free agent practice to navigate the economic rapids.