How to Freelance Successfully in a Recession: 3 Tips

by Yuwanda Black
http://Start-a-Foreclosure-Cleanup-Business.com

While it may seem counterintuitive, a recession is an excellent time to start a freelance writing career. The main reason is that when companies cut back, work still needs to get done -- usually in the same volume. So, companies need the same amount of help, but they want to cut costs. And, this is why many full-time, salaried workers with benefits are let go -- and where freelancers fill the void.

Now that you know why a recession is a good time to start do your own thing, let's look at how to freelance successfully during tough economic times.

I. Identify Pain Points: In a recession, companies cut the fat and get right to the meat of the matter. So if you want to meet their needs in a freelance capacity, identify pain points -- and create a plan to meet them.

For example, if you're a freelance writer, one area a lot of companies falter with is creating content, especially in the "after Panda Google" update. Many companies don't have full-time, in-house SEO writers. They outsource a lot of their content to freelance writers says the Content Marketing Institute (CM). Proof?

In its 2010 B2B Marketing Content Marketing Report on large organizations, CMI noted:

By a wide margin, larger companies are more likely to outsource content creation. Seventy-seven percent of large firms outsource some of their content development, compared to an average of 55% across all content marketers.

By reading industry reports like this, you can learn how to freelance more effectively -- because you can easily zero in on needs -- and offer affordable solutions to your target market.

II. Specialize: Or, another way to put it -- niche it to success. The reason nicheing it is important is that you get to intimately know your target market and their needs. Once you do this, you can provide tailored services to them that many others don't offer because you get to know them really, really well.

A side benefit of specializing is that the more customers you bring on, the more you make -- even if you charge less. How?

Let me illustrate by way of example. One of my niches in freelance writing is real estate; specifically mortgages. I've written hundreds -- if not a few thousand -- articles on real estate for clients. Because I know the niche so well, I can work much faster. I already know where to go to conduct research, which industry sources to tap for quotes, the trends, etc.

I can bang out a 500-word SEO article on mortgages in 20 minutes or less (not including proofing and sticking in stats). It might take a new writer 2 hours or more.

As I'm able to work much quicker, my hourly rate goes up, even if I happen to be charging less than another real estate writer.

See what I mean?

III. Discounts: It's not new and it ain't sexy, but discounts work -- in good economic times and bad.

Learn more about how to freelance fulltime, specifically the six signs to look for that signal it's time to quit your job to go solo.

Gain more insight into independent health insurance and how to freelance fulltime successfully; specifically the signs to look for that signal it's time to quit your job to go solo.

Article submitted Wednesday, June 22, 2011 & read 1 times.

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