Deliberate Freelancer

#183: The Weird State of Freelancing Right Now

Mar 22, 2024

This podcast delves into the current state of freelancing, discussing layoffs in media and tech industries, tips on setting yourself apart, diversifying, marketing strategies, income goals, and when to raise rates. It urges freelancers to be adaptable, embrace opportunities, improve skills, and track financial numbers. Also includes insights on attracting clients, managing business challenges, and an intriguing book recommendation.

39:27

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Quick takeaways

Freelancers must prioritize resilience to navigate client budget cuts and market uncertainties effectively.

Diversifying client base and adapting marketing strategies are crucial for freelancers to thrive amidst industry-wide disruptions.

Deep dives

Building a Resilient Business

It is crucial for freelancers to build a business that can withstand challenges like client budget cuts or team layoffs. By prioritizing resilience, freelancers can proactively prepare for uncertainties in the market and ensure they have a sustainable business model that can adapt to changing circumstances.

Introduction

3min

Navigating Industry Turmoil and Encouraging Freelancing

4min

Thriving in the Freelancing Landscape

15min

Freelancer Financial Management

6min

Attracting and Retaining Clients as a Freelancer

7min

Navigating Freelancing Challenges and Business Management Strategies

2min

A Harrowing Tale of Intrusion and Survival

2min

On today’s show, I discuss the current state of freelancing, which includes massive layoffs and shuttered clients in the media and tech world. But even if that isn’t affecting you — maybe you’re even having your best year yet — you need to be prepared for the lean times and to set up your business to lessen the risk of feast-or-famine. That includes setting yourself apart, diversifying, always marketing, and more.

Here’s what I share with you in this episode:

The number of layoffs in the media industry in the past year.
The hits in the tech industry.
The number of freelancers in the U.S. — the highest number in history.
Should you panic — or investigate and embrace opportunities?
How to be a “futurist” for your industry and why that’s important.
Reflecting on whether your skills need to improve.
How to set yourself apart from the competition.
How to “bridge” to new projects and services.
Why setting and tracking monthly income goals is crucial.
At least 10 marketing ideas to try right now.
When to raise your rates.

Biz Bite: Organize your tasks into front stage and back stage.

The Bookshelf: “Nightwatching” by Tracy Sierra

Resources:

Support Deliberate Freelancer at Buy Me a Coffee
Join the discussion in the Deliberate Freelancer Facebook group
Episode #64 of Deliberate Freelancer: Using a “freakout” protocol to get work now, with Austin Church
Episode #180 of Deliberate Freelancer: How to Crush Your Fear of Self-Promotion and Get Clients Now, with C.J. Hayden
Episode #116 of Deliberate Freelancer: How to Create Case Studies to Land New Clients, with Emma Siemasko
Episode #160 of Deliberate Freelancer: The Dreaded Feast or Famine!
Episode #54 of Deliberate Freelancer: Think Digital First and Other Ways to Make Money Now
Episode #53 of Deliberate Freelancer: Pivoting and Finding Resilience
C.J. Hayden blog post “Avoiding the Feast or Famine Trap for Your Business”
MBO Partners “State of Independence in America 2023” report
“New Study Reveals Surge in Six-Figure Earners”
Connect with Melanie on Threads @MelEdits_DC
Connect with Melanie on LinkedIn

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Deliberate Freelancer

#183: The Weird State of Freelancing Right Now

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Building a Resilient Business

Shift in Freelancing Trends

Challenges in Media and Tech Industries

Adapting Marketing Strategies and Skill Building

Remember Everything You Learn from Podcasts