Service Providers: Get Out of the Feast-or-Famine Cycle

By Alexis Rodrigo | Entrepreneurship

Oct 29
Feast-or-Famine Cycle

If you're a service provider and you're stuck in a feast-or-famine cycle, watch this video to get an idea that will help you to have a more stable, predictable income:

Prefer to Read? Here's the Transcript

NOTE: This was generated using Artificial Intelligence, so it's not 100% accurate.

Hi here's another in car video for you while waiting for my son to come out of school. 

I thought, I'd share with you a tip. And this is for those of you who are service providers like copywriters, graphic designers, coaches and consultants. 

If you find yourself trapped in a cycle of feast and famine, where one month you have so much client work that you're working 50, 60 hours a week. And you don't mind because the money's coming in. But then the next month there's nothing or very few clients. 

And you know, it's stressful to be in that situation. Because your income is unpredictable. And during the famine months, you're stressed out about finding new clients. And even in the good months, you're stressed out because you're wondering how you can sustain that level of client work client activity and income.

But here's what has worked for me and of course there's a lot of different ways that you can address the situation and get out of that feast or famine cycle, but I realized that for me this past couple of years or so. 

From Feast-or-Famine to Stable Income

What has really worked is to provide continuing work for clients to get into continuing projects with clients that don't really have an end date. And I guess you could say being on retainer, but slightly. I guess that's how you can put it and the way to do this is to really think about are what the clients need that they need consistently. 

And you can start with whatever they've hired you for this time, for example I'm a copywriter and let's. See that somebody hired me to write the copy for their sales page. Because they're having a launch so then I know that after the launch they're probably still going to want to keep attracting clients organically or potential customers organically. 

Create a stable income by offering continuing services to your clients.

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So then I can offer like oh, after the launch, you might want to get organic traffic and so I can create this type of content for you. And then that would, of course, mean that they would need a series of emails to nurture their new leads and a new landing page for that opt in offer and so on.

If you're a graphic artist and let's say a client hired you to design the cover for their ebook. Then you might offer for example to create on a continuing basis to create let's say social media graphics so that they can keep promoting their eBook on social media without it. Having looking the same all the time. Like Instagram Stories that you can offer to design Instagram Stories for them or I'm not very familiar with Instagram. So I might be saying that wrong but Instagram images and so on.

So there's different ways that you can go about it. But do make an effort to sit down and really think about what kind of retainer type services or ongoing services, your clients need that will help them to get achieve their goals and realize that they may not be aware that they need these things. 

Don't Wait for Your Clients to Think of Ways to Hire You for Ongoing Projects

So it's up to you. It could be up to you to educate them and share your expertise with them and help them to realize it you're helping them with something specific now, but actually they can get even better results by continuing to work with you.

Educate your clients! Let them know all the wonderful ways you can help them achieve their goals on an ongoing basis.

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So I hope that this is something new to you. I hope this sparks new ideas and let me know what you come up with. If you want me to keep it secret if you want it just between you and me will I'll definitely make that our secret. And if you need ideas for whatever specific niche you're in or whatever services you provide, then, you know, let me know send me an email and I'm only too happy to help you brainstorm I'm quite good at brainstorming, actually. So I would be very happy to help you brainstorm.

Okay, the kids are starting to come out now. So I'm going to let you go. Enjoy the rest of your day and keep getting great ideas for your business, okay?


About the Author

Lexi Rodrigo is a communication and marketing professional for multimillion-dollar businesses, co-author of Blog Post Ideas: 21 Proven Ways to Create Compelling Content and Kiss Writer's Block Goodbye, and host of "Marketing Insights LIVE!." Connect with Lexi on Twitter, Facebook, or LinkedIn.