Like many freelancers and small businesses, Jaimee Designs is facing a slight decrease in business right now. It’s definitely a combination of the typical Jan-Feb blues and a not-so-booming economy. But the doom and gloom of today doesn’t have to spell disaster for the rest of the year. Using my own business as a guinea pig, I have compiled a list of several ways for freelancers and small businesses alike to counter the rough waters now in hopes of finding smoother sailing ahead.
If you’re like me, you’ve had a little more free time than usual lately. Things that used to get placed on the back burner are now easily accomplished during typical business hours. With every bad situation, there usually is a silver lining. Here is no exception; the positive effect of downtime is the free time that can be spent ANYWAY you want. So let’s spend it doing things to propel us ahead.
Look for jobs/project elsewhere - When’s the last time you made cold calls or networked for money? For me, it’s been awhile, but I still know how to do it. Now is the time to search for ways to generate that added income. A popular network for me and a lot of people is facebook. Create a page for your business separate from your personal one and use it to publicize your services and generate new leads. Another idea is to find a freelancing site like (guru.com) and become a member. Yeah, it may cost $70 for six months, but you can use your downtime to make bids on dozens of projects you wouldn’t have had access to before.
Learn a new skill – We all can do this. Whether your service is needlework or graphic design, you can always brush up on your skills and learn a new trick or two to add to your tool bag. So use your free time to search the internet, check a book out from the library, or take a low-cost class. The skills you learn will not only improve your mood, but they will give you yet another service to MARKET to your customers.
Cut costs - Yeah, I know this isn’t the popular one. But when money is tight and you’re having to run your business on less, now is the time to really differentiate needs from wants. Since you have some time to waste, go through your books and see where spending can be cut. Maybe the electric bill is a bit high, find a way to cut that down. Do you really need that magazine subscription or can you read the info online? And the bi-weekly client meeting at Ruby Tuesdays? What about the printer? Do you need to print so much? Try using pdfs for invoicing and change the meetings to a coffee shop. Cutting costs doesn’t have to mean cutting services. Sometimes it’s just a matter of finding waste and a cheaper… better way to get things done.
Sell things – this is something I’m really good at and it doesn’t take too much effort once you figure out how to do it. Look around your office. Do you really need that extra computer? How about all of those “learn how to” books that you finished two years ago…. can those go? We spend money on lots of things to make our lives better, but forget in the hustle and bustle of our busy lives to take stock from time to time on our belongings. How much stuff do you house and upkeep that doesn’t add much to your current daily life? A LOT. Consider passing things along. Read my blogs about ebay for more information on selling there. You can easily make $400 – $500 selling things right around you. Just use that free time to open your eyes and look for those money-making items!
Start a blog – That’s what I did. Blogs are great because they provide anyone who knows a little about anything a platform to broadcast themselves. Take your free time and write about what you know. This information goes a long way in making yourself legitimate and the go-to person of your specific industry. Depending on how popular your blog gets, you can start generating income from ads like google ads. I’ll write a blog about that soon.
Advertise – I know, I know… you don’t have any money. But you’d be surprised what a little extra advertising can do for your bottom line. I currently spend only $15/mo with google adwords. And with that, I generally get 5-10 leads a month from people who click on those ads. If I increase my advertising budet to $30/mo, I’d probably increase my leads to 10-15. Even if that amount to only one more project a month, it’s worth the $15 investment. So advertise! Rates are cheaper, you’ll have fewer competition.
and lastly….
Donate time for good – This is my favorite. How often do we say that we’d volunteer more if we had more time? Well, you’ve got it! It may not be your preferred time to have extra time, but non-the-less, you have it. So spend it doing good for others. Find a local charity that needs help and volunteer a few hours every week. Donate that extra computer in the office to an organization that needs it. Sure, you won’t make money off of it, but you can write it off of your taxes and make someone’s day! I’d take making someone else happy over $300 in a heart beat. Out of all of the ways to beat the economic downtime, this will be one of the most satisfying, so definitely try it.
Well, that’s my list. I hope I helped you to find some positive ways to spend your dreaded downtime.
While in the process of doing what I call “realigning” my site last month and making small upgrades, I realized that a lot of the content on my website didn’t define me very well anymore. The text read correctly and was free of errors, but it didn’t portray my current practices and passion. Even my own picture was outdated and didn’t introduce me to the world with the face I see in the mirror every morning. So it was time to dust off the ole self-definition and make changes to it to better reflect who I am today.