How to Recession-Proof Your Freelance Writing Business

Not another recession. You may be shaking your head. If you are a millennial like me, you’ve already lived through a major recession. But the recession is coming and it’s out of our control. 

But not everything is out of your control during the recession. You are still in the driver's seat of your freelance writing business. And you can become a recession-proof freelance writer. 

Let’s talk about how to recession-proof your freelance writing business.

Freelance Writing During the Recession

I’m an old millennial, so I still vividly remember the 2008 recession. I graduated in 2008 and took a job as a membership coordinator for a non-profit management company right away. This wasn’t my dream job, but I needed something for a year before grad school. It only confirmed what I already know: a corporate environment is not for me. But that’s not the point.

You may recall that the fall of 2008 was the year when the recession hit. That same winter, right before our company Christmas party, they laid off nearly half of our staff. I wasn’t one of them — yet. Through the winter and spring, they kept laying off people. 

In June, it finally caught up with me, and I was laid off only two weeks before I was going to quit. Since I was planning to quit anyways, it wasn’t a big of deal. Yet, it was awful. Quitting would’ve been my choice. An empowering choice. Being laid off, even if due to budget cuts, was humiliating. 

I still remember sitting with HR and one of the CEOs and then being carried to my desk, having less than two minutes to pack up, and being carried out by security. Welcome to corporate America. I knew I wanted none of it.

In 2010, at the end of grad school, I took a research job at a Dutch organization. It was a huge deal. During grad school, we were told that we would have to work unpaid for years before we would get an actual job in children’s rights, international development, or humanitarian aid. And there I was: I got a job as a lead researcher before graduation at a children’s rights organization.

Unlike my company job, I loved this job. I took great pride in it and loved everything (most things) about it. In early 2011, the Dutch government decided to cut developmental aid to about 20%. It was still an after-effect of the recession.

As a result, many NGOs and other organizations in international development started laying off people. Our organization closed. My boss and founder of the organization was old and decided that retirement and shutting down the organization was the best option — for him. 

One day I had a great project on violence against children in Kenya and was planning for my next one, possibly in Ethiopia. The next day, I learned that we are closing doors and shutting it all down within a month. And once again, I learned that nothing is secure, and I can lose everything at a blink of an eye.

We were taught that having a ‘regular’ job, a ‘real’ job is security. This might’ve been true in the past. But today, we know that nothing is secure. Whether it’s the recession, the pandemic, or something else, you can lose your job any day.

The world is constantly changing, and we have to prepare for the change. Freelance writing may just be one of the best ways to prepare.

Why Is Freelance Writing the Best Idea During a Recession?

Freelance writing may be a recession-proof business. Here is why: 

• Low-cost business: You don’t need much money to build a business. And you don’t need a physical office for it either. You don’t have much to lose, and you don’t have too many expenses to worry about.

• High-value skills: Content and copywriting are high-value skills. They are highly marketable. Businesses will need them during the recession too. In fact, during the recession, businesses may let go of full-time staff and more likely to hire part-time freelancers.

• Diversified income: Freelance writing is naturally diversified. Diversifying your income in today’s world is critical. Here is the good news: freelance writing is naturally diversified. You are not only working with one client. You are working with 3-5 or even more. If you lose one client, you are not losing your entire income. Replacing one client is always easier than replacing an entire job with a full-time salary. Not to mention, you can absolutely add other sources of income, such as selling strategy sessions, ebooks, courses, and other things to diversify your income even further. You may learn more on how to escape the feast-and-famine cycle here.

How to Recession-Proof Your Freelance Writing Business

There are a number of ways you can recession-proof your freelance writing business. Here is what I recommend:

Build Your Own Client Base

Relying on agencies, other freelancers to outsource from, and content mills is not a great idea. They may provide you with a steady clientele, but they can easily take them away from you. You are not in control. Not to mention that content mills and even some agencies pay poorly. 

If you are at it, stop relying on platforms like Upwork and Fiverr. Not only that, it’s a race to the bottom, and they take away a big chunk of your pay, you are also relying on them for client acquisition. Even if you are  one of those few awesome writers on Upwork that actually make good money, it’s good to put your eggs in other baskets as well. 

Develop your own client acquisition instead of relying on platforms, content mills, and agencies. I recommend cold-emailing (learn more here) and Linkedin (learn more here).

Stand Out from the Crowd

There are a lot of freelance writers, and you want to stand out from the crown. 

• Focus on high-value skills. Develop high-value skills that your clients need. Skills and expertise that are in demand will make you more valuable.

• Focus on writing services that are in demand. Offer writing services that are high-value and in-demand. Focus on learning new skills so you can change with industry changes. Learn how to choose a writing specialty here.

• Consider a niche. Niching down is another great way to show expertise and stand out from the crowd. Choosing a niche that will be in demand even during times of recession or other tumultuous times is important. Finance, technology, SaaS, B2B medicine, health, wellness, dentistry, and real estate are just a few niches that will likely always be in demand.

• Charge well and focus on high-ticket clients. Working with low-paying clients is not sustainable. Focusing on higher-ticket clients and charging well for your services can make you a recession-proof freelance writer. Even if you lose one or two clients, the rest of your clients can sustain you.

• Be smart with your money. Being smart with your money is always important, especially during a recession. Build an emergency fund. Build some savings. Invest for retirement. Look at your expenses and cut what’s not necessary. Saving money is just as important as making money when it comes to becoming a recession-proof freelance writer.

• Focus on your mindset. Having fear, anxiety, and negative thoughts is normal. If you already have anxiety, like I do, it may only amplify. I’m not going to say ‘try not to worry’. That’s pointless. But try some strategies that may improve your anxiety and mindset. Try meditation and breathwork. Spend time in nature. Journal. Engage in activities that you love. Get a therapist if you need to.

• Be gentle with yourself. We forget this all the time. But as a recession-proof freelance writer, you need to give yourself some grace. Be patients. Be forgiving. Don’t be too harsh on yourself. Celebrate your win. Be gentle with yourself. Give yourself a hug.

Becoming a recession-proof freelance writer is not as difficult as you think. Follow these steps to create a sustainable, successful freelance writing business. Keep reading the blog for more freelance writing advice.
Are you interested in creating a sustainable freelance writing business without the hustle? Check out my freelance writing course with a step-by-step process of exactly what you need.