Been freelancing for a few years now and I’m still terrible at predicting when work will dry up. Last winter caught me completely off guard - went two months with barely any projects coming in.
Trying to get better at seeing these gaps coming and actually saving money when times are good. Right now I’m just winging it and hoping for the best, which obviously isn’t working.
Review last year’s bank statements. Write down the months that were slow. This won’t take long and helps identify when work drops off.
Once you see the pattern, begin outreach to past clients about six weeks before the slow season. It takes time for clients to decide and respond.
Track your income patterns from the past few years. Look at which months were consistently slow and mark those on your calendar.
I learned this the hard way too. Now I do a few things:
Most industries have predictable slow times. December is rough for most clients. Summer can be hit or miss depending on your field.
The key is being honest about your spending habits during good months. If you’re like me, you probably spend more when money flows in. Breaking that cycle makes the planning actually work.
Started tracking this stuff when my restaurant supply business got hit with empty months twice in one year. Now I use a simple spreadsheet with three columns - month, income, and what was happening that month.
After doing this for three years, I can see clear patterns. January and February are always slow because restaurants cut back after the holidays. July gets weird because half my clients close for vacation.
What really helped was making a monthly expense number that covers everything - rent, utilities, my salary, the works. Then I know exactly how much I need to keep the lights on during dead periods.
I also started asking my regular clients about their plans. Sounds basic but most will tell you if they’re planning to slow down or ramp up. One of my biggest accounts always warns me about their quiet months now.
The savings part is hard. I had to open a separate account at a different bank so I wouldn’t see the money sitting there. Out of sight really does help.
Winter always sucks for me too but spring picks up.
Look at your past invoices and you’ll see the pattern pretty quick. Same months usually get slow every year.
Construction taught me to watch cash flow by quarters, not months. I look at the same three month periods each year and compare them. Once you see the pattern, it’s obvious when things slow down.
I keep six months of expenses saved up because gaps happen fast. When work is steady, I pay myself less and leave money in the business account. Most people do the opposite and pull everything out when times are good.
Found this breakdown really helpful for planning around slow periods:
The main thing is starting your next marketing push before you need it. Waiting until you’re already slow means you’re already behind.