Things Not to do in a Recession
I’ve been hearing about job losses, redundancies and cancelled contracts all over the place in recent weeks, and I’m hoping that my current packed schedule will continue well into 09. But at the same time, I think it’s important to be smart about a recession when you’re self-employed. Here’s some mistakes I’m promising myself I won’t make (again) next year:
- Letting clients pay at the end of a project: This would be fine except 80% of marketing projects over-run and expand to include extra work - so when I send in a (bigger than expected) invoice after three or four months, the client starts querying what I’m charging for, and I’m left scurrying back through emails to try and prove that, yes, they did ask for those extra two days of editing. Far better to agree staged payments in advance, and bill at least once a month.
- Doing lots of free ‘consultancy’ at the start of a project. I’ve always been happy to take one meeting or a couple of conference call at the start of a potential project, to show clients I know what I’m doing and demonstrate my value, or something. But I recently spent three days providing a potential publishing client with a full features list for a proposed series of supplements, flatplan and detailed competitor analysis, only for the potential client NOT to get the contract. You can bet the execs at the publishing company got paid regardless – but I didn’t. Muppet.
- Payment on publication. This is depressingly common payment practice in magazines. Advertisers don’t generally pay until the magazine hits the newsstands, so it makes sense for magazines to pay writers at that point. Except that with today’s shrinking issue sizes, features can get held over almost indefinitely. I just got paid this morning for a feature that was commissioned almost exactly 12 months ago. I can’t afford to work extensively for clients who might not pay me until a year after I’ve done the work.
- Forgetting to pitch. When you’re busy it can seem impossible to find the time to keep selling – and stupid, too – why pitch when you don’t have time to take on more work. But this isn’t a market where a “wait and see what turns up” attitude is likely to work all that well, so I’m determined to set aside at least one or two days a month for marketing, ideas generation and pitching to new clients.
What have I missed?





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