#354: Breaking Free from the Feast-or-Famine Trap: What You Need to Change Starting Today

High-Income Business Writing Podcast

In this episode, we’re tackling one of the biggest challenges freelancers face: the dreaded feast-or-famine cycle. Whether you're a seasoned freelancer or just starting out, the strategies we’ll discuss can help you create a steady stream of work and avoid the panic that comes with dry spells. The Growing Urgency of Client Prospecting The freelance world is facing increased pressure. With a challenging economy causing many businesses to put projects on hold, freelancers who’ve enjoyed steady work over the past few years are now finding themselves in a tough spot. The solution? A strategic and consistent approach to prospecting that can keep your pipeline full, regardless of external conditions. Recognizing Marketing as a Core Role As a solo business owner, marketing isn't just something you do when you need work—it’s a critical role that you must prioritize. Freelancers often come from environments where work is handed to them, but when you’re running your own business, you’re responsible for every function, including marketing and sales. If you’re serious about building a sustainable business, you need to accept this responsibility and make marketing a consistent part of your routine. The 10% Rule: A Simple Strategy for Consistent Marketing To ensure marketing becomes a habit, I recommend the 10% Rule—dedicating 10% of your weekly work time to marketing activities. This approach is flexible, achievable, and essential for maintaining a healthy pipeline of opportunities. Whether you're booked solid or facing a slow period, this rule helps you stay proactive in your marketing efforts. Building Marketing into Your Routine Consistency is key. Just like brushing your teeth or going for a walk, marketing should become a habitual part of your weekly routine. When you make marketing a non-negotiable habit, you’ll find that opportunities start to flow more regularly. This doesn’t mean you have to cold prospect constantly—staying in touch with your network, engaging with past clients, and maintaining visibility on platforms like LinkedIn can all contribute to keeping your pipeline active. The Priority Pyramid: Focus on High-Probability Opportunities First When your pipeline is dry, it’s important to focus your efforts on the highest-probability opportunities first. That’s where the Priority Pyramid comes into play: Current Clients & Open Proposals: Start by following up with current clients and open opportunities. This is the highest-probability area where you can secure quick wins. Past & Dormant Clients: Reconnect with past clients or those who have gone dormant. They already know, like, and trust you, making it easier to reignite the relationship. Dead Leads: Reach out to prospects who showed interest in the past but didn’t convert. Often, circumstances change, and they may now be ready to move forward. Cold Prospects: Finally, if you’ve exhausted the previous three categories, turn to cold prospecting. This can be time-consuming, but it’s a necessary part of maintaining a full pipeline. The Importance of Reps and At-Bats Cold prospecting can feel daunting, especially when you face rejection or silence. But remember, like a slot machine in Vegas, the more you play (or in this case, prospect), the higher your chances of hitting a jackpot. The key is to keep going, even when it feels tough. The more reps you do, the better your chances of landing a big win. Unwavering Commitment: The Foundation of Success Freelancing comes with its challenges, and it’s during these tough times that your resolve will be tested. It’s crucial to have a strong sense of purpose—your “Big Why”—that keeps you motivated. Like the American colonists fighting for their freedom, your commitment to your business and your goals will carry you through the toughest challenges. Upcoming Workshop: Build a Powerful Prospecting Habit in 21 Days If you’re ready to take your prospecting efforts to the next level, I’m excited to announce a new prospecting workshop starting next week. Over 21 days, you’ll receive daily lessons and assignments designed to help you build effective prospecting habits that stick. This workshop is all about action, accountability, and results—perfect for freelancers who are ready to transform their business. This is the last time I’m running this workshop in 2025. To join us, send an email to [ed at b2blauncher dot com], and we’ll get you all the details. The workshop begins on Monday, September 16, so don’t wait! Final Thoughts Breaking free from the feast-or-famine cycle requires a strategic and consistent approach to marketing and prospecting. By embracing your role as a marketer, following the 10% Rule, and focusing on high-probability opportunities, you can create a steady flow of work and build a sustainable freelance business. Thanks for tuning in to this episode of the High-Income Business Writing podcast. I hope you found these strategies useful. Until next time, keep pushing forward and stay committed to your success.