Trust the Ebb and Flow
While I had decades of experience in the corporate world riding the waves of seasonality, recessions, world events, and business cycles, I was naive to the fact that running my own business would, at times, be similarly inconsistent. I thought, hoped, and prayed that revenue would grow in one direction, up.
In those early years of running my business, these ebbs and flows caused me a ton of frustration and fear. And I often hear these same fears when working with clients.
I learned (often the hard way) what helps me and my clients manage the ebbs and flows. Consider these ideas:
Keep Calm and Carry On. Know that there's nothing wrong with you if your revenue isn't consistent from month to month. This is a normal part of every business. I need more clients is not a mindset that will attract more business. Just keep doing your work.
Plan Accordingly: Have a cash reserve in your business so that you can pay yourself during slow periods. And if you're in the very early stage of your business (and don't have another source of revenue) consider doing your work part-time or as a side hustle before embarking full-time. This will reduce the financial burden and give you a runway for referrals and organic growth. Full disclosure, knowing what I know today, if I had it to do it all over again, I would go this route.
Consider Different Payment Structures. While each business is different, there might be ways to structure your payment plans to allow for consistent revenue. For coaches, it might be a shift to monthly billing, or for creatives spreading the payments out for your work.
Create New Products and Services. If there are gaps between big engagements and custom jobs, or if there are natural slow periods in your work due to seasonality, consider offering smaller products or services you can layer into your portfolio. Coaches could offer a mini-course or a smaller engagement versus multi-month programs, creatives could design and sell non-custom products or offer workshops, etc.
Enjoy The Break. Running a business is a marathon, not a sprint, so take advantage of slower periods. Invest in more training, do your taxes, work on marketing, or take a vacation. Enjoy the break. It likely won't last!