Step 1: Communicate with Your Client Base
Prior to delving into financial logistics, it’s essential to assess the impact on your workflow. Moreover, engaging with clients upfront allows you to approach the conversation calmly, without the desperation of an immediate need for funds. If the crisis is personal, consider the following measures:
- Prioritize personal safety and health;
- Once circumstances permit, update each client on your situation;
- Discuss any revisions to your working capacity or schedule.
If the crisis has wider implications, act as follows:
- Address your own well-being if necessary;
- Reach out to clients;
- Convey your concern, acknowledge the broader event, and offer your continued services as circumstances allow.
Here’s an example for a “touch-base” message: Dear [client name],
I trust that you and your loved ones are secure and in good health.
These trying times bring a lot of uncertainty, so I wanted to communicate that I am ready to adapt to your evolving project needs. Should there be a need to pause or modify our project’s timeframe or scope until a sense of normalcy returns, I’m here to support. Just let me know how I can assist.
Yours sincerely,
[Your Name] This communication is not only a lifeline for maintaining client relations amid a crisis but also grants you a forecast of your income flux. Similarly, by proactively offering support, you facilitate your clients’ budget planning in forthcoming months or identify alternative support mechanisms if your services are temporarily unavailable.
Step 2: Evaluate Your Financial Reserves
One key recommendation for freelance web designers is the maintenance of a contingency fund. There is a spectrum of advice ranging from having three months’ worth of rent to a flat $1000 baseline for essential outlays. To determine your requisite emergency fund total and the corresponding timeframe to resume operations post-crisis, consider tools like Money Under 30’s Emergency Fund Calculator: 
Should an emergency fund be non-existent, survey other monetary sources and resources:
- Isolated accounts earmarked for operational costs or living expenses;
- Household provisions that could mitigate the frequency of grocery runs;
- Gift cards, rewards programs, and other monetary equivalents to defray some costs during this period.
Refrain from tapping into retirement funds or withdrawing investments prematurely. Weathering the storm won’t feel successful if you have to rebuild from scratch afterwards. Plus, early withdrawal penalties at tax time are an unwelcome addition. Loan procurement is not advisable either; accruing debt will add to post-crisis burdens. If financial assets are thin, continue reading for additional strategies.
Step 3: Immediately Reduce All Expenditures
After establishing your expected revenue trajectory, initiate cost reductions across all fronts. If business has halted, minimize or halt business expenditures where feasible. Alternatively, downgrade service subscriptions (e.g., hosting, applications, internet plans) to basic levels until full capacity is required. If operations continue, albeit slowly, prioritize essential expenses, trimming the rest as necessary. On the personal front, it’s time for stringent belt-tightening. This entails critical analysis of current spending habits and making swift adjustments:
- Opting for home-cooked meals over dining out or delivery services;
- Curbing impulse purchases in favor of utilizing existing possessions;
- Choosing inexpensive in-home entertainment over external outings;
- Pivoting to generic goods rather than sticking to brand names;
- Switching from cable TV to more economical streaming platforms;
- Replacing paid gym routines with home workout solutions;
- Preferring remote work setups over paid coworking spaces.
It might seem tempting, but avoid skimping on healthcare coverage. Even if health risks are not imminent, safeguarding yourself against unexpected medical needs is prudent while you stabilize your business. Beyond this, deeply slash your budget and adhere to it until the crisis passes and a semblance of stability is reclaimed.
Step 4: Negotiate with Creditors
A crisis amplifies the dread of surmounting bills, intensifying feelings of despair. The silver lining? Many creditors extend leniency during challenging times, upon request. Pursue negotiations for decreased monthly payments or interest rates, or even for an interest freeze. Though the debt remains, reduced interest accumulation alleviates future financial strain. At a minimum, commit to the minimal monthly payments—an interim measure to conserve cash flow. Surplus funds at month’s end can always be allocated towards debt reduction.
Step 5: Pursue Alternative Income Streams
The ripple effect of a crisis may touch your business or your clients’. In response, identify supplementary revenue channels. As a web specialist, consider these avenues:
Enter a New Niche
Connect with businesses flourishing during the crisis—those potentially in need of web development or maintenance services. Proactivity may unearth untapped opportunities.
Become a Tutor
Though creating online courses is a potential source of income, immediate financial relief is likelier through platforms like Tutors.com or Wyzant, where you can readily share your expertise.
Work as a VA
Capitalize on the demand for technical support as businesses transition online and individuals grapple with digital technologies. Your skills could redefine the traditional administrative assistant role—consider supporting with technology setup and cloud service management. A diversified portfolio is advantageous, even when emergency funds are adequate. Engaging work can divert focus from the crisis, fostering productivity during trying times.
Wrap-Up
A crisis necessitates tough choices and sacrifices, yet freelance ventures can endure and emerge intact. To lighten your load during future crises, consistently manage your finances—minimizing costs, maximiz
ing income, and nurturing your savings. Featured image via Unsplash.
