Thriving in Freedom: Who Should Embrace Long-Term Freelancing?
One of the biggest myths is that there is no financial stability in freelancing.
But if you build up your reputation and client list, there is ALWAYS financial stability.
It’s amazing to me that people point out that there is no financial stability…but if you lose your job, you lose ALL your income.
If we lose a client or two, we are still making some sort of income. If your business is built right, we always have a bit of cash flow.
For those that fear financial instability, they need to think about long-term freelancing with clients - either clients who need support month-to-month, or on a retainer basis.
You might want to consider this work if you:
Love an ongoing, long-term relationship. It doesn’t matter if you charge hourly or package, if you love the idea of really getting to know a client's business and their personality, becoming a reliable member of their team, long-term client work is for you.
Offer similar services every month that rarely change. If this is work that you have to do every day, that rarely changes, but doesn’t have a start-or-end date, this type of work is for you. Think about VAs, social media managers, newsletter copywriters, etc.
Like commitment to some extent. This will work for you if you like steady income and you prefer knowing what you’ll get day in and day out.
Enjoy consistent steady income. When working on retainer or month-to-month, you can set up your rates to be package based instead of hourly and you charge the same amount every month. This helps you predict your budget as well.
Above all, long-term freelancers must be passionate about their work. Whether it's writing, designing, coding, or consulting, pursuing your passions is what drives long-term freelancers to excel in their craft. You’re going to be doing the same thing for the same clients, so it needs to be something that you truly enjoy.
