How to Find an Anchor Client and Why You Need One

How to Find an Anchor Client and Why You Need OneHow to Find an Anchor Client and Why You Need OneYoull probably begin having doubts at some point during your first year of freelancing, no matter how well-organized you are. You might have too many clients, not enough money, and not nearly enough free time. How is it possible to work 70 hours a week and barely break even? Its important to maintain multiple clients so youre not left scrambling when one disappears, but having too many small clients can leave you cash-poor and exhausted. You need an anchor client to make it as a freelancer in the long-term. How to Get an Anchor Client? An anchor client is the cornerstone of your freelance business portfolio. Its an ongoing gig or a long-term contract that more or less promises a certain amount of money each month and a relatively consistent time commitment. Ideally, your anchor client will pay you enough that you can pay almost all your bills with just this one gig- and it always pay s you on time. An anchor client basically provides you with most of the benefits of a real job, like semi-regular infusions of cash and some structure. But it doesnt require that you show up every day and sit through interminable meetings. Develop One of Your Smaller Clients Reliability is the single best quality you can cultivate as a freelancer. Youll get more work when your clients have it to offer if you always do what you say youre going to do it when you say youre going to do it. Provide a Cheaper Alternative You might hear about job openings at companies as you develop relationships with your smaller clients. Keep an eye out and an ear open for gigs that sound like something you could do on a contract basis...then throw your hat into the ring. fruchtwein employers are delighted to hire a contractor instead of a full-time employee. Its cheaper because they dont have to pay benefits or payroll taxes. They wont have to deal with a layoff or termination should they no lon ger require your services. Go Back to Your Network You most likely have a built-in network for contract work if you transitioned to freelancing after spending several years as an employee. Keep your old bosses and colleagues in the loop and make sure they know youre always looking for work. Connect with them on LinkedIn and other social networks. Carry business cards in case you run into folks in real life who might need your services. It takes some practice to do this without feeling like youre asking for a handout, but you might be the solution to their problems if these people have more work than they can handle. Theres nothing wrong with being prepared to make a case for yourself should the opportunity arise. Get a Part-Time Job Sometimes the best way to make a go of it as a freelancer is not to freelance, at least not full time. Finding a part-time job that offers a regular paycheck might give you the security you need to take bigger risks with your business. Employers are often delighted to consider hiring on a part-time basis even if they didnt originally intend it because its cheaper. Apply Blind Even if 60% of jobs- full time or otherwise- come through networking, that still leaves 40% so it can be worth it to apply blindly to online listings. Youre looking for a few keywords in particular, such as X hours per week or X-month contract when youre hunting for that anchor gig. The Bottom Line Make sure your clients know youre available. Be on the lookout for opportunities to expand your workload with your favorite companies. This is an ongoing process- dont rest on your laurels when you have a to-die-for anchor client nailed down. The company could go out of business or otherwise change course so it no longer needs your services. You dont want to have to scramble to replace it, so try to keep a few potentials waiting in the wings.