2013:How Freelancers can Survive Recession in their Business-5 Ways

What if recession hits your writing business? Have you thought of what to do?

When you work from home, you may have felt that you are immune from recession.
But is this going to be the case? But before I  show you an illustration of how recession can hit your business. Please I will love to get your feedback on other strategies you used to beat recession at the end of this article. Now, back to the article.

Let me illustrate using an example below as case study.
beat reccesion, writing, diversify income,affiliate marketing
Can Writing lead to This

 Assuming you had a client who accounts for half of your income in a month, and let say out of the $5000 you earn in a month he accounts for $3000. What do you think would happen to your income and the state of your mind?
This is just a bad case scenario.

Lets look at a worse case scenario. What if he decides not to work with you again due to the recession?
Can I hear your thumping heart? If my guess is right-you are like…let it not happen to me.
But just wishing it away isn't going to solve the problem (a loss of a whooping $3000... “gosh”)

I don’t want to send your heart racing though. If you're reading this, then, solving the problem is just a step away.
The tips will work for an A-list blogger as well as a newbie. It doesn't matter because the following tips listed below will make you jump off the recession train when it eventually comes.

#1 Plan to Diversify Your Income

Life experiences from previous recession should have taught us one important lesson. The lesson
taught or learned is that income diversity is an important aspect of your finances. This is because relying on only one source of income can throw you off balance if recession sets in.
This why diversifying your income can help lessen the chances of withdrawing from your emergency fund.
How then: one way you as a freelancer can diversify your income is to either institute an active income stream or a passive one.
However, before you consider any of the two options there a couple of point you must take not of.
-          You must consider how much free time is available to you.
Is your freelance career a 9-2 job or a 9-5 job?
If you feel there is sufficient free time available, then consider starting another business. The business could either be online or offline.

-          Can you repackage your service
You must sit down and look out for ways to better repackage your service.
You can offer e-book writing services, if you were only offering article writing services.

#2 Develop New Skills

One simple way of diversifying your income is to learn something new.This has several advantages:     
             -     It helps you reduce cost
             -     It can be another avenue for you to earn more cash.
             -     It’s an avenue to meet new people.
For example, you could learn web design-this could then act as an alternative source of income for you.
Having learnt it, you could then write articles for several sites that pay you to provide information on how to better tweak a blog.

#3 Develop/Polish Old Potential:

Are you one of those who have left their potential lying fallow, people whose desire is just to make money not considering their personal fulfillment?
Don’t you know you can have the best of both worlds especially if you have a spare time?
Why not work on it and feed it to produce more fruit.

You could sit down and list your potentials like this:
-          Cake making
-          Floral decoration
-          Photography
Having considered the potentials you have deposited in you, the next step is for you to look for the most viable among the listed potentials.
Suppose its floral decoration you want to go into, but know little about it, your first step would be to visit a master florist or at least a local library or search the net, to learn all you could about creating beautiful floral decorations. Apart from that you could decide to blog about creating floral designs or even sell your designs on stock photography sites.

#4 Set Up A Blog and Institute Adsense

This tips is a very old tip-yet very effective way to diversify your income. This adsense angle is actually a passive technique of deriving alternative sources of income.
If you’re to set up blog the following tips will be highly relevant despite your niche.
-          Create wonderful content on your blog
-          Ensure you set up a fast loading site
-          Ensure your site is well optimized for images
-          Create an about page and good landing page for your target visitors.
-          Ensure you're active on popular social media network.

#5 Participate in Affiliate Programs/Royalties.

Affiliate programs can either be a passive or active stream.
To make it a passive stream, you’ll need a blog to promote the affiliate program.
The parent company will provide the products, track the sales and sales and gives you a commission for each sale.

Through this means, writer/bloggers who have good targeted traffic can earn recurring commissions while sleeping.

What other means can writers and bloggers beat recession? Will love to hear from you


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