Outdoor home office

Yesterday, I wrote about a freelancer’s relationship with the recession, saying that the economic hardships faced by other companies could prove to be valuable opportunities for freelance writers. As these companies lay off some of their full-time employees, they may outsource to freelancers on an as-needed basis. This can represent significant savings on their part, because they don’t have to maintain the required office equipment, pay into a retirement fund, or deal with increasingly complex human resources issues.

While the rest of the world struggles to get back on its feet, the ups and downs of revenue are an expected way of life for freelance writers. One month, you may land an enormous project that has you working into the wee hours of the night. That month, you’ll probably earn more money than usual. Other months, you may find that viable projects are a little harder to find and your bottom line reflects this lack of work. Naturally, the current recession falls into the latter category for many of us, especially if you cannot capitalize on the above-described scenario of increased outsourcing.

So, what can you do when business is slow? I have noticed that my freelance writing business has slowed somewhat and I’m left with a little more time on my hands. What can I (and you) do to fill this time in a productive way?

1. Income Tax Season Is Here

It’s a time of year that isn’t fun for anyone involved, but it’s something that has to be done. If you’re not actively working on a lot of freelance projects, you be a little more proactive and get an early start on your income tax return. Some may say that this isn’t an “early” start at all and you should be doing it sooner rather than later anyhow. You may not have all of your receipts and forms in order, but you can start with what you do have.

2. Get Some Reading Done

As a freelance writer, it’s important to consider the work of other writers. After all, you are what you read. During this time, you may focus on your business and look for books that can help you earn more money, expand your portfolio, or seek out other opportunities. How can you be more effective and efficient as a freelancer? On the flip side, you can also take this time to read for pleasure too. There’s nothing wrong with indulging in some escapist fiction.

3. Address Your Side Pet Projects

When you are bombarded with projects from your freelance clients, you may find that your pet projects are perpetually placed on the backburner. Maybe you were hoping to launch a new blog or publish your own e-book. With a down period in your business, you now have a little more time available to you and this can be used to work on those pursuits.

4. Actively Seek New Opportunities

Aside from the early part of my freelance writing career, I have been fortunate enough to have clients come to me. Word of mouth has been good to me, but times are tough, it may become necessary to actively seek new opportunities again. I don’t believe in sacrificing my integrity in this search, so it is important to remain calm and assertive with prospective clients. Don’t take on something that you don’t want to do just because you want the money.

5. Finally Get Some Rest and Relaxation

Believe it or not, there is life outside of work. If your freelance business has been reasonably successful in recent years and you managed your funds accordingly, you should be able to ride out of this slow period. You can have hope for a brighter day, so long as you have a plan in place when the economic wave rises up again. In the meantime, take a little time for yourself, your friends, and your family. If you’ve worked hard thus far, you deserve a break.