Slumps and Rainy Day Funds
Slumps happen. It's inevitable. The business slows down. You fell out of sync with a crew you work with a lot. The stars don’t align and you just aren’t getting the work. There’s no way around it; in this carny, town-to-town, job-to-job lifestyle that we have all chosen, there are times where you finish a job, have no idea what will come next, and have nothing on the horizon.
What do you do? Well, first, here’s what you don't do: don't freak out, don't start stress eating. don't start drinking. Don't lose your mind, because this is a part of the biz, will always be a part of the biz, and has always been a part of the biz. We are freelancers and in essence, nothing is actually secure. So, first off, you need to make sure that you have the type of mentality that can handle this kind of lifestyle. Some can’t and there is no shame in that, but this is an all-or-nothing gig, so you need to learn how to handle the slumps.
Next up—and this should start as soon as you start working—start putting away money for down the road. Call it retirement, call it a rainy-day fund, call it whatever, but the single best way to get through a solid slump is knowing that you are financially ok with going through a slump. So, start saving, don't spend all your money, and be smart.
Next, recognize that slumps happen to everyone and it’s not that your career is now over. My best advice? You can’t control what work comes your way, so control what you can and make the most of your time. Do you have some time off? Start that novel, learn how to knit, yodel, spend time with your family, enjoy yourself, because, before you know it, you will be back to 60 plus hour weeks and having no time except weekends to get everything done.
After I finish a job and have nothing lined up, I usually give myself a few weeks of down time to get caught up, rest, and take care of life things (doctor’s appointments, cleaning the gutters, introducing myself to my family and the dog again) before I actually accept that I’m going to have time off. BTW, it’s worth noting that a few weeks before the gig ends I send out some emails and texts letting people know I’ll be available again.
After about two weeks, when I start to get that nagging feeling that my career is over because the phone isn’t ringing (yes, this still happens after 30 years), I’ll start a project or decide what I am going to do with my time. I’m presently in a slump and as a result, you will eventually (hopefully) be reading these words. See how that works? Then, just to maintain my sanity, I’ll set aside time for two things during the day so that I can continue feeling like I have a career. The first is reaching out to people—an email, text, coffee, lunch—so that I am in their minds and so that I am helping to secure that next job down the road. Even if it leads to nothing, it makes me feel like I am being proactive. Then, I try every day to do something to further my career as a storyteller. Back in the day, this meant practicing with my Steadicam. Now, it means listening to a podcast by one of so many great filmmakers out there or taking my camera out and shooting photos so I work on my framing, or heading to an art museum, or looking at art online. Anything that keeps the creative juices going, and of course, at my point in the game (or really any), working out and staying fit.
The bottom line is, unless you are horrible or a horrible person (if it's the former, get better, and if it’s the latter, be nicer), you will work again. You aren't the only person out there to experience a dry spell, so make the most of it, advance your craft, and do something you enjoy. Before you know it, you’ll be complaining that you never have time to do anything. Trust me.
This is life. You get one shot through. Make the most of it.
