It is apparent that all of us, at a global level, are aware of some economic turmoil in the coming future (if it hasn’t started yet). Are you doing anything to prepare for the future or are you not too concerned for now?
On a personal level I have seen a few signs that things are tightening a bit. Two things that I have noticed personally are that 1) a few of my clients who had big plans for future projects are not as enthusiastic as before; and 2) bargain hunters are back. It seemed that for a while the web market had overcome the bargain hunters in the value vs. quality issue. However with so many people trying to save a buck the bargain hunters are back.
What i am consciously doing at this time is not much. I have been trying to focus attention on the freelance business, which is easier for me to manage than my company since I don’t have to run anything by anyone else and can change the strategy on a whim (partners with different agendas and different concerns can lead to heated debates). However, freelance work is not my ’bread and butter’ so I am much more interested in full service projects. I am also planning on focusing some attention on a few residual forms of income, but I don’t have much hope for that since to make any serious cash with residuals you need to be dedicated.
Currently I am OK since at the moment I have plenty of work (knock, knock, knock), however, I have been receiving less RFPs which means that in the future there may be a hole in my projected income (for large projects it usually takes 2-4 weeks to close a deal and receive down payment). Just to be safe I ’called’ first bid on the spare room at my mom’s place before my brother took it
Are you concerned about the economic future? If so are you doing anything to prepare for it?
