Scoring a steady freelance gig has its benefits: there's the steady paycheck, the satisfaction of working with repeat clients who know and trust your work, and the fact that you can invest more time in actually doing work rather than hunting it down.
But sometimes that steady freelance gig isn't all it's cracked up to be.
Sometimes it can actually hold you back, leading to creative and financial complacency. That's not to say that shouldn't love and cherish your ongoing clients, but keep in mind that monotony is the enemy of creative freelancers.
After working on the same project for awhile, you'll no doubt become more efficient, but you may also find that you just aren't challenged anymore. You've mastered the client's press releases and now it just feels like more of the same. You're not growing creatively, but you're too loyal (or too in love with getting a check every month) to jump ship. If you wanted to do the same thing day after day, then wouldn't you work in an office instead of freelancing?
Then there's the issue of money. If you focus too much on one or two projects, then it's easy to develop tunnel vision and ease up on your marketing efforts. After all, Client X loves you, and you're too busy to take on new projects, so why bother with networking or cultivating new prospects? This mentality is dangerous for a few reasons. First, if one day Client X no longer needs your services, you'll be out in the cold, a victim of Too Many Eggs in One Basket Syndrome.
Second, if you don't have the time (or the necessity) to pursue new projects, then you're missing out on higher paying work that could reignite that creative spark. As you gain more experience, you become more valuable to clients, but your rates with older clients aren't necessarily on par with the rates you can get from clients you cultivate now. There is value in those long-standing relationships, but many freelancers under-price themselves early in their careers, so they need new clients who didn't know them way back when they were working for pennies.
So, how does a smart freelancer avoid these pitfalls?
If you don't mind managing people and get buy-in from your client, you could subcontract some of your projects to other freelancers. That way your clients don't have to search for your replacement and you can tackle other projects without losing that contact. Several of my projects are subcontracting agreements with more seasoned freelancers, and it works out well for both of us.
If your main concern is financial stagnation, then you can also raise your rates periodically. You might price yourself out of some clients, but many clients understand that just as their insurance premiums and gas bills increase, so do their other expenses. If the client isn't able to pay your increased rates, then it's up to you decide if you need or want that stability in your life or if you'd like to seek out higher paying clients instead.
If the issue is creative stagnation, then you might suggest other services to your existing client. For instance, maybe your blogging client could use a Facebook fan page or a Twitter account to change things up. Or you could take a class to keep things fresh while you continue plugging away at those ongoing projects.
Your turn! Freelancers, is this an issue for you? How have you dealt with balancing variety and stability?
Flickr photo courtesy of loungerie