Eric Deeran explains how to stabilize freelance income: switch from one-off projects to monthly retainers where clients pay for a set of deliverables each month. Retainers create recurring revenue that scales from 5k to 100k monthly, while project work becomes bonus income on top.
The number one way to fix inconsistent revenue is to implement retainers. This is where a client's paying you every single month for a certain amount of deliverables. And in exchange you get what we call recurring revenue. And recurring revenue is when they're paying you every day on a certain deadline. That's how you build 5, 10, 15, 20, 50, 100k a month is by having those recurring revenue payments. And then anything you do for one offs is just icing on the cake. On top of that.
