The news hasn’t been good lately for full-time employees. Headlines about layoffs have been everywhere, especially in the tech field. But does this mean that our freelance writing businesses are going to get slow in the near future?

I have three answers to this question: yes, no, and it depends. 

First answer: Yes. The overall news that companies are struggling is not a great sign for anyone, both freelancers and full-time employees. For many companies, this means shrinking budgets and belt-tightening. And often marketing hits the chopping block pretty early – which is counterintuitive to me. But I don’t rule the world. So business slowing down is a real possibility that every freelancer should both prepare for and actively work to prevent. 

Second answer: No. What happens with full-time employees at a company does not always mean the same fate for freelancers. In fact, sometimes it means MORE freelance work and opportunities. Full-time employees are expensive with their salary and benefits. And you have to keep paying them even as the work ebbs and flows. But working with freelancers allows companies to get work done without the expense of a full-time employee. Many companies have different budgets for contractors and full-time employees, so the money may still be there, just in a different pot. 

Third answer: It depends. I’ve learned that different niches are affected very differently during slowdowns. In 2008, real estate and construction writers really struggled. Travel writing became almost non-existent during the pandemic. While tech seems to be the most affected in this current dip because it over-expanded in recent years, I really think that tech is too entrenched in our lives and the world for the writing opportunities to totally flatline like they did in the other examples I mentioned. 

What Should You Do?

Instead of worrying about what will happen, you should get to work. Here are some steps to take to help lessen the effects of whatever economic issues we are heading towards. 

• Diversify your niches. If you are in tech, look at other niches you have and work to grow those. Tech writers should also look at their general tech specialties that can move across niches. For example, if you have written about cybersecurity in EdTech, then you likely have more knowledge about cybersecurity than you realize. You can use that knowledge to write general cybersecurity. The more specialized expertise you have, the better. Writers in non-tech niches should also look at adding new niches as well. The more niches you have, the more options you have for work depending on what sectors slow down the most. 
• Ask for referrals. When times get stressful at work, clients feel that their job may be on the line. So they are less likely to use a totally new-to-them writer. If they can’t find a writer they already know and trust, a referral is the next best thing. I recommend proactively asking all your clients, especially agencies, for referrals to other projects. I expect that the effect of the slowdown will vary widely across companies. So if one of your clients is not slowing down, look to get as much work from them as possible. 
• Focus on building a writer network in your niche. Referrals from other writers are also even more important during tough times. A client is much more likely to take a recommendation from a writer they trust than hire an unknown writer. I highly recommend starting your own accountability or mastermind group in your niche. By connecting with other writers in your industry, you can share contacts and gigs with each other. If you do one thing from my list, do this. 
• Keep marketing. Or start marketing. Even if you haven’t done cold marketing in years, you may need to dust off your LOI. My recommendation would be to start sooner than later since it can take a while. So if you are already seeing even a little slowdown, I recommend starting to send out LOIs either over email or LinkedIn. 

Yes, there is a lot of uncertainty right now in freelance writing between the layoffs and ChatGPT. But in the 15 years I’ve been in freelancing, I’ve seen several ebbs and flows just like this. By taking proactive action and focusing on building your network, you can put yourself in a great position to stay busy during whatever is heading around the corner. 

How have the recent layoffs and budget cuts impacted clients in your niche?