Being a freelancer or running an agency is an amazing and rewarding experience. You get to set your own hours and work when you want (in an ideal world), and you only take on as much work as you feel you can handle at any given time.
There’s just one problem: what will you do when the work dries up? What if that one big client you have suddenly doesn’t have any work for you, or unexpectedly cuts their budget and has to cancel your contract?
There’s nothing worse for stability and security for an agency or freelancer than falling into the “single client trap”. As the old adage goes, don’t put all of your precious eggs in one basket, which is exactly what happens when you become too reliant on one or even a couple of “main” clients. If you find that 80% or more of your income comes from just one client, then you’ve fallen into what’s often referred to as the “Single Client Trap”.
Let’s look at how to get out of this all too common “trap” and into a regular rotation of clients and work that is consistent, reliable and dependable.Continue reading “How to Escape the “Single Client” Trap”