Just yesterday I got a call from an old client contact who’d been laid off  because the pandemic. She felt it coming, but it was still a shock.

 

I’ve been there myself. It’s been six years since I was laid off from my job, and as much as I knew I was going to go, it was still a lot to process.

 

Those emotions are normal for an employee. Afterall, you were part of a 2-way commitment.

 

As a freelancer though, my mindset is different.

 

At first, losing clients hurt…especially that time I lost a $2K monthly retainer while I was signing the papers on a new car. Now? I expect that anyone, I mean anyone can drop me at any time. (Which, especially in the U.S. is honestly a reality of “at will” employment too.)

 

It doesn’t bother me much at all now. Freelancers should be ready to see any client go at any time. But we should also be trying to soften the blow.

 

I fear losing a client a lot less these days, mostly because I do the same thing any decent employer does to make sure they can cover your paycheck…

 

• I have a marketing strategy. I’m always bringing new business in.
• I diversify. If a client is bringing in over 30-50% of my yearly income, I know I’m in a danger zone.
• I have a floor. I push myself to bring in 2-3x the sales that I need to pay myself and cover my expenses. Even on a really bad month, I’m fine.
• I pay myself a set salary (and save the rest in my paycheck fund). So even if things fall apart, I have a check coming in every two weeks.

 

There’s a freedom in never over-investing in one client. It gives you emotional distance and allows you to make the decisions that keep your freelance life moving forward.

 

When you’re always ready to lose, winning your version of this freelance game gets a lot easier.

 

 

Megan