Bouncing Back: How Freelancers Can Rebuild Their Business Post-COVID with the Help of FFCRA

December 17, 2023

We all know how challenging the past few years have been, with the COVID-19 pandemic disrupting businesses worldwide. Freelancers seem to have been hit especially hard, but that doesn’t mean resourceful hustlers like you should give up! In this article, we'll explore some practical steps you can take to get back on track and regain your momentum. Plus, we'll dive into how the Families First Coronavirus Response Act (FFCRA) can be a game changer for entrepreneurs and gig workers to bounce back. Let’s dive in.

Step 1: Assess the Impact of COVID on Your Freelance Business

The first step in bouncing back from the damage caused by the pandemic is to assess the impact of COVID-19 on your freelance business. You may feel like you have a grasp on what changes have happened, but it’s a good idea to sit down and create an actual list of data points that show where you are, where your business was pre-pandemic, and the differences between the two periods you’re analyzing.

Specifically, take some time to analyze how the pandemic has affected your client base, project opportunities, and income streams. Understanding the specific challenges you face will help you develop a targeted recovery plan.

Step 2: Re-evaluate Your Services

Consider reevaluating the services you offer to adapt to the changing needs of clients in a post-pandemic world. Are there new skills you can learn or services you can provide remotely? Identifying gaps in the market and adjusting your offerings will help you attract clients who are looking for solutions in the current landscape. The easiest way to do this is to go through old conversations with clients. Were there any times they asked if you were able to do something that you couldn’t? Did they ever mention “wishlist” items that could be easy skills for you to pick up?

Tip: Leverage the FFCRA!

The FFCRA isn't just for traditional employees—it can also provide crucial benefits for freelancers. This act includes provisions such as paid sick leave and expanded family leave for eligible self-employed individuals affected by COVID-19. By utilizing these benefits, freelancers can ensure their well-being and financial stability while they get back on track post-pandemic. 

Want to learn more about how the FFCRA can get you the valuable tax credits you deserve? Click here to learn more about the FFCRA, and take our 3-minute pre-qualification quiz to see how much you can get back. 

Step 3: Adjust Your Marketing Strategy

Revamping your marketing strategy is key to regaining momentum. Consider leveraging online platforms, such as social media, to showcase your skills and reach potential clients. Networking virtually through industry-specific forums or attending online conferences can also help you connect with like-minded professionals and potential collaborators. Remember, consistency is key when it comes to marketing, so make sure to regularly update your portfolio, website, and social media channels.

Step 4: Build (and Maintain) Relationships

Cultivating strong relationships with existing and potential clients is vital for rebuilding your freelance business. Reach out to previous clients and offer your services, or check in to see how you can support their current needs. Additionally, consider seeking referrals from satisfied clients or collaborating with other freelancers in complementary industries to expand your network and reach new opportunities.

Step 5: Build Resilience and Diversify Your  Income Streams

To future-proof your freelance business, it's important to build resilience and diversify your income streams. Consider expanding your skill set or offering new services that align with emerging market needs. Additionally, explore alternative platforms or marketplaces where you can showcase your work and attract new clients. By diversifying your income sources, you can mitigate the impact of potential future disruptions.

The Bottom Line

Freelancers, we've been through tough times, but that doesn't mean we can't bounce back stronger than ever! By assessing the impact, leveraging the FFCRA, adapting your marketing strategy, building relationships, and diversifying your income streams, you can rebuild your freelance business post-COVID. Remember, it's all about staying adaptable, proactive, and open to new opportunities. With determination, resilience, and a sprinkle of creativity, you'll be well on your way to reclaiming your success as a freelancer. Good luck!

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