This month rolled around RIGHT on time, because whew. We’re all up against some serious challenges that mean we need to take a look at our business overall…but you know what? Everybody is.

 

Even if we’re employed, we’re facing the same risks to our income, mental health, and business future. (We’re just usually less aware of it because somebody else is making the decisions.)

 

That’s why we’re going to go over some CEO-level questions about our businesses this month. To get things started, let’s talk risk.

 

This pandemic’s got just about everybody’s lives turned upside down, and as much change as we’ve seen, there’s more to come. But you’re in the best position possible. As freelancers, we can make shifts and changes faster than employed relationships.

 

 

Risk Questions to Answer

Me? I haven’t experienced anything beyond minor issues in my work (business-wise…emotionally is another story) from the pandemic, but I’m still keeping an eye out.

 

Here are a few of the questions I’m asking myself, because you know what? As a business owner facing change, I should be able to. You should too.

 

• Which of my clients is highest risk of dropping off? (i.e. how are their customers, and their customers’ customers impacted by this?)
• Can I afford to lose them?
• If not, what do I need to do to start setting up ways to replace them?
• Do I have too much of my income coming from one or two clients who are likely to be negatively impacted by the pandemic?
• Is the way I’m billing going to be impacted by people working remotely? Should I ask my contact if there’s a better way to bill to make their lives easier?  
• Should I be looking into applying for additional assistance? (e.g. the SBA disaster loan assistance/grant in the U.S.)

 

If you got uncomfortable answering any of those questions, good news! You’re asking them at the perfect time. Sit with them for a few, and you’ll be in a good position to make better decisions for your freelance business.

 

 

Megan

 

P.S. Don’t forget, you can come talk things out in the Academy or even shoot me a response right here.