If you have read my article, “7 Reasons Why Freelancers Should Think Seriously About Eggs” (and if you haven’t, then you really should do – as it is eggstremely informative), then you will know that I didn’t actually deliver on the title and only told you about six egg-related idioms.
The reason for this is that in my opinion the 7th egg-related idiom is by far the most important and so I decided that it needed an article of its very own. An eggslusive one, if you will (Sorry!!!)
Don’t Put All Your Eggs In One Basket
If you should only take away one piece of advice from the 7 Reasons Why Freelancers Should Think Seriously About Eggs, then it should definitely be this one. I know all too well from personal experience that having “all your eggs in one basket” is not a good idea at all for a successful business.
It was as an Internet Marketer that I first suffered from falling fowl (okay, I promise that this was the last one!!!) of not following this wise advice, when my “one basket” at that time was Google.
More specifically, I had got rather good at creating websites to rank high in the Google search engine. So good in fact that I began to neglect other marketing avenues and concentrated all my efforts on what Google wanted.
I never employed any so-called “black-hat” techniques. In fact, I never even employed any grey ones either. My online marketing techniques and SEO (Search Engine Optimisation) were all “as white as the driven snow”.
Then one day Google introduced a new update, by the name of Penguin, and all my top rankings in the Organic SERPs (Search Engine Results Pages) for my particular language pairs suddenly disappeared over night, only to be replaced by those annoying FREE online dictionaries. Great work Google!
At the same time all those lovely new direct clients that for so many years had been coming to me and asking me to translate their projects suddenly stopped over night.
I hadn’t done anything wrong, had I? After all, I hadn’t cheated the system. I had been employing the best practices at the time.
The truth is, I had been doing lots wrong. The truth is, I had got lazy and had stopped marketing my business.
I had been guilty of putting “all my eggs in one basket”.
So, did I learn from this lesson?
Fortunately for me, I still had all my existing direct clients, which were certainly providing me with more than enough work. One of my clients in particularly was beginning to give me more and more translation projects and at a high rate to boot.
This was all great stuff and I had soon forgotten all about my Google misery and concentrated all my efforts on being the best translator I could possibly be and began to take on more and more work from this premium paying client.
Having a great relationship with one big client, who also happens to pay very well, is of course the dream for any freelancer, but as with everything in life there is also a downside.
One can only do so much work and I was now working at pretty much full capacity from this one client. It basically meant that I had to keep on turning away work from other clients, who were not offering me such high rates, nor the luxury of regular work.
After a while though you don’t have to turn clients away anymore, because eventually they stop coming.
Although I may have been somewhat aware of this at the time, I was probably too busy to step back and assess the situation properly. As well as neglecting my “lesser” clients, I was also neglecting marketing my business again. I just didn’t have the time.
So, had I learned my lesson? No, I had not!
Then one day, something changed. I won’t go into detail, but sometimes situations just change and there is nothing you can do about it. Perhaps a company goes bust, or perhaps they are taken over by a bigger organisation. There are so many factors that are out of our control that we are often helpless to do anything except just take it on the chin.
Again it was no fault of mine. I had actually exceeded expectations, hence why I was getting all their business, which is why I now found myself in the position where 80% of my income had suddenly been ripped away from me.
Although the circumstances were totally different, I had not learned my lesson from the Google affair. Once more I had put all my eggs in one basket.
That is not where the story ends and as it turns out it may well have been the kick up the ass that my freelance business needed, but that (for now) is another story, for another day.
What we as freelancers should take away from this, no matter what business we are in, is that we should never neglect the ongoing marketing of our businesses, we should never rely on just one source of income, no matter how convenient that may be, and we should never ever put all our eggs in one basket.
I hope that the article A Word Of Warning To Freelancers Everywhere – Don’t Put All Your Eggs In One Basket has been of help to you and if so please take the time to share on your favourite social media channels. Also, if you have any similar personal experiences to mine or indeed any advice on this topic, then please put your thoughts in the comments section below, as I would love to hear from you.