When Freelancing Isn't Enough

These are interesting times...the past couple of years. We have a president that's giving away money one day yet asking (indirectly) for consumers to pay it back in the form of escalating prices for food and gas. People are still affected by COVID, as many either downsize their living situation or choose to live off the grid...and love it.

While the idea of remote work may have been appealing at one time or another, facts are facts. These can range from having too small of a startup budget to not having a growth plan. Going back to work may not be an option (and if you had bosses like me, you'd rather live off of public assistance before returning) yet you're not ready to collect social security. 

So what to do?

Since the days of selling blood/plasma are pretty much limited (if not gone like the 8-Track cassette tape), getting money during tough times can be a game in itself. Sometimes, you may have to combine methods during downtime or change your normal work schedule to accommodate time limitations and other factors that ensure you get paid on time.

What You Shouldn't Do During a Money Crisis

I've seen people get desperate and throw in the towel on their aspirations when they feel they've been knocked down too many times. Sometimes people abandon their ideas or just take time away to recharge. I'm for the latter because it can take a moment to figure out where you may have gone wrong. But in the meantime, bills have to be paid.

Jump on a career trend- registered nursing, medical coding, civil service jobs, and anything having to do with user experience are just some titles that most pay above a livable income. The nice thing about some of these is training is minimal but like most careers today, a bachelor's degree is highly desired. While I love the idea of higher education, I've seen students of all ages who are super-psyched up about starting something new. However, this type is usually history by the time midterms roll around. Forbes

Take out a loan

- outside of the SBA and a few reputable financial institutions, taking out an unsecured loan can be risky. If you're unsure about signing up for a secured loan, you need a contingency plan first. Understand that while it may be easy to get a personal or business loan, it may be best to consider other options if money's already funny. The only exception I would make is if you've secured a client (or two) who is guaranteed to bring repeat business. LinkedIn

Volunteer - this is tricky for some because it can lead to a paying opportunity. However, this is extremely rare for most live and remote workers. If you need to get paid last week and ramen noodles are starting to sound good, it may help to negotiate a deal. That is if the company or industry is compatible with your brand or proof of experience (like a letter of recommendation) will pay off. This also goes for free "trials" some people post as jobs on sites like Upwork. If their brand isn't recognizable or their online property looks strange, keep it moving. Hubpages

3 Ways to Stay Afloat During Tough Freelancing Times

Those with a nice skill set can often find flexible work from a number of legitimate entities - some of which pay weekly or daily. If it were me, I'd also consider a part-time job that offers some flexibility in addition to side hustle money. Considering you're also taking steps to trim spending, these methods may work for you until your business is ready for that relaunch.

1. Promote your services to local businesses. Some people like to see someone who knows the area and customs of the client. If you offer your services globally, not knowing the culture of countries outside of your own can create misunderstandings. One advantage is you know where to find them if payments are late. Another is that word-of-mouth marketing is sure to pay off if they like your work.

2. Offer a package to existing clients. This can take some planning due to the nature of your business and what can be offered. However, with the power of social media, you can sell informational downloads, complementary products, and e-books. If you don't know the basics of selling digital downloads, this article explains it nicely. Oh yeah, the key to moving your products quickly is stating the price is only good for 'x' amount of hours or a couple of days (e.g., the weekend).

3. Take on a partner. While allowing someone to buy into a part of your business may alleviate cash flow problems, it can also create problems elsewhere. If your fiance is a great salesperson but they lack experience in your field, they may not make the right business partner at the moment. The same applies to family members, BFFs, and others who want you to win. Depending on all that's at stake, you may want to consult a business development specialist who can suggest a sound legal structure.