With all this talk about the economy these days and hearing about how companies are tightening up their budgets, I’m curious to see how this is effect the freelance business owners.
Making Money in a Slow Economy from Danny Outlaw on Vimeo.
Has the change in the economy had a major impact on your business? Is the change good or bad?
If the change is for the worst, what are you doing to makeup for the loss of income? Are you looking into ways to make passive income? Charging more for work? Or maybe going after more jobs for less money?
Please share your comments and suggestions with us so that maybe we can help each other out.
Friends and family are constantly asking me if the recent events in the economy have had any effect on my businesses. Honestly, it hasn’t. If anything it has only gotten better. Maybe it is a coincidence, but as the economy has got worse, I have seen some of my highest paying clients in my career.
Why is that?
The only thing I can really think of is that more and more people are looking for ways to make a decent amount of money online. I’m not talking about just extra cash for Christmas presents, but rather an alternative income.
What do you think?
As for what I am doing to make up for lost income, I’m not really making up for lost income, but I am focusing on making some passive income. I have a couple of projects coming up that I am hoping will generate a steady flow of somewhat passive income. I feel that having multiple streams of passive income is a great thing for any freelancer. If you haven’t already explored ways of doing this, now might be a good time to start.