Tough Times? Stay Afloat With New Client Business

Given the current economic climate, landing new clients and generating new business is clearly challenging. “Sorry, we just don’t have the budget at this time,” seems to play over and over again like a broken record, rendering even the most thick-skinned of us weary.

It can be all too tempting for freelancers and contract consultants to limp along, hoping to sustain ourselves on existing client work and old standbys until the economy turns around. So is it realistic to expect a boon in new business? In a word, yes—with a targeted strategy and a little creativity:

1. Network, Network, Network

Yes, we have heard this one before, ad nauseaum and ad infinitum, but the power of ‘who you know’ cannot be underestimated. A few tried-and-true tips:

• Expand your network in non-traditional ways. ‘Who you know’ can include contacts from places of worship, schools and universities, hobby and interest networks, alumni associations and career placement offices in addition to former clients, colleagues and supervisors.
• Subcontract. Even if you prefer the ‘call the shots’ aspect of consulting on your own, consider subcontracting to a larger firm or consulting organization. Many consulting firms maintain an affiliate or subcontractor program through their recruiting departments. Registering with these firms/recruiters can help you fill in the gaps as your own client work ebbs and flows.
• Nurture your network. Stay connected to your contacts, even during the flush times. Sharing updates and new client success stories, and inquiring about your contacts’ recent work helps keep the lines of communication fertile during the lean times. Janet Borggren, a Chicago-based consultant has been freelancing for over 6 years. She offers, “(Be) the person your client wants to work with again. Being that person goes beyond producing great work. You have to nurture the relationship. It’s hard to impress strangers with your portfolio. Be someone your clients want with them in the trenches, and they’ll do your marketing for you.”
• Share the wealth: Pay your network back in kind. Pass along leads for projects or positions that may not fit your skill set or utilization. Make introductions between contacts across your network, offer recommendations to your colleagues on social media sites and suggest they use you as a reference should the need arise. Making yourself available to scratch others’ backs, helps ensure your own back never itches!

2. Offer your network something of value

Rather than reaching out to your network over and over with a vague message such as, “I am available for project work immediately,” offer your network something of value. Write and publish an article, then share it with your network. Join a panel discussion and share the recorded version. Attend a networking event and invite your contacts to join you. Offering insight, thought leadership or other points of value to your network:

• communicates your worth to the market
• emphasizes your ongoing achievements and connection to the market or industry you serve
• provides your network with direct examples of your skills
• and encourages your network to open and respond to your messages, allowing you the opportunity to communicate with your contacts regularly.

Ongoing ‘value’ communication will help to keep you top of mind, should an opportunity arise to consider you and your talents, without always having to say ‘Keep me in mind if you hear of something.’

3. Utilize technology to complete the ‘push-pull’ cycle.

Think beyond the ‘push’ communication process of online job/project searches and application submission. Job search sites are numerous, unwieldy and often a black hole of information input and output. While it is important to visit these sites and maintain a profile, searching and applying for positions online can be an overwhelming process, and can often feel fruitless. Consider using technology to ‘pull’ opportunities to you.

• Create and publish your own web site. Detail your talents, service and project success through inexpensive site build and hosting sites such as www.intuit.com or www.wordpress.com. Register your site with the major search engines and optimize your site so it is more attractive to spiders. Regular updates to the content, using keyword-rich text, can help to improve rankings.

• Post regular updates. Post to your blog and/or profiles on social media sites such as Facebook and LinkedIn, detailing project work, recent successes, networking events you plan to attend, industry insight and other news about your work and services.

• Stay current. Subscribe to newsletters, blogs and other industry information sources to stay current on trends and to join online networking groups with similar interests and goals. Join network discussion groups and ask for ideas and advice from these contacts, in addition to your core network.

• Watch for trends. Stay abreast of events in capital project approvals within industry organizations. A major area of opportunity for consultants in a soft economy is to backfill or temporarily fill a project or position need associated with a capitalized project. Many companies are not able to hire a full-time permanent employee, but can justify the capitalized cost of hiring a consultant for part or all of a project’s duration. Use your network to target these opportunities and/or introductions to the department managers who may make these decisions over the next year.

The prospect of keeping the pipeline filled during difficult economic times can, indeed, be daunting. Tough times do call for tough measures – but a little creativity along the way can literally mean the difference between feast or famine for self-employed consultants industry-wide. Good luck!