Latest / Freelance Careers with Fexingo: Independent Work, Consulting, and Self-Employment / How Freelancers Can Use a Client Waitlist Strategy
Transcript
- Lucas: So there's this freelancer I've been following — Sarah Chen, she's a UX researcher based in Austin. Luna: I think I've seen her on LinkedIn. She does that really deep qualitative work for fintech startups, right? Lucas: Exactly. And around early 2025, she did something that initially looked like a mistake. She stopped pitching. Cold. Just turned off all outbound client outreach. Luna: That sounds terrifying for a freelancer. Most of us are told the pipeline never stops. Lucas: Right, but she had a reason. She was booked solid for three months, working sixty-hour weeks, and her rates hadn't moved in two years. She was stuck at about one fifty an hour. Luna: Which in UX research for fintech is actually on the lower end, if she's good. Lucas: Exactly. So instead of just raising rates and hoping clients didn't flinch, she set up a waitlist. She updated her website, changed her calendar link to say 'accepting new clients in Q2 2026,' and started collecting names. Luna: And people actually signed up? Lucas: Within two weeks, she had four companies on the list. By the end of the quarter, twelve. And here's the key — she didn't quote them a price upfront. She just said 'I'll reach out when I have capacity, and we can discuss scope then.' Luna: So she's creating scarcity. But also, she's pre-qualifying — only people who really want to work with her will wait. Lucas: That's exactly it. When she finally opened her calendar in April 2026, she reached out to those twelve, told them her rate had moved to two hundred ten an hour, and seven of them said yes immediately. Luna: Seven out of twelve at a forty percent increase. That's impressive. But I wonder — does this only work in a hot market like UX research right now? Lucas: Fair question. I think the mechanic works in any market where you have a differentiated skill. But you need to be honest about your own demand. If you're not getting inbound inquiries already, a waitlist won't create them out of thin air. Luna: So the first step is really a demand audit. How many unsolicited leads have you gotten in the last six months? How many referrals? Lucas: Exactly. Sarah tracked that. She had about three inbound inquiries per month before she went on waitlist. That was her signal. If you're getting zero, you probably need to work on visibility first. Luna: What about the risk of losing current clients? If your existing clients see you're not taking new work, do they get nervous you're going to drop them? Lucas: That's a real concern. Sarah handled it by communicating proactively. She told her existing clients: 'I'm scaling back new projects to ensure I can give you my full attention.' That actually deepened trust. Luna: So it's framing. Instead of 'I'm too busy' it's 'I'm protecting our work together.' Lucas: Right. And when she did raise rates for the waitlist clients, she didn't touch her existing retainer rates until the renewal cycle. That way she didn't shock anyone. Luna: How long do you think a waitlist should be before you open it? Sarah waited six months — that seems long. Lucas: It depends on your capacity. If you have a full book of business, you can afford to wait longer. I'd say a minimum of one to two months to build enough names that you feel comfortable raising rates. If you only have two people, you might cave. Luna: Right, because you need the confidence that if one person says no, you still have others. Lucas: Exactly. Sarah had twelve. She could lose five and still be fine. And she actually did lose two — one said the new rate was too high, one ghosted. But she filled those slots within a week from the remaining five. Luna: So the waitlist also acts as a buffer. You're not desperate. Lucas: That's the whole psychological shift. When you're pitching, you're in a position of need. When you're selecting from a waitlist, you're in a position of authority. And clients pick up on that. Luna: I want to talk about the mechanics. How do you actually set up a waitlist? Just a Google Form? Lucas: You can start simple. Sarah used a tool called Tally — it's free, embeds on her site. She asked three questions: company name, project type, and budget range. That last question is important because it pre-qualifies. Luna: And she didn't share the budget range publicly? She asked them to state it? Lucas: Right, it's a field in the form. That way when she reached out, she already knew if they were in the ballpark. Most of her waitlist had budgets over two hundred an hour, which made the rate increase easier. Luna: So you're essentially using the waitlist as a pricing discovery tool. You learn what the market will bear without committing. Lucas: Exactly. And then you can set your new rate at the top end of what people are already willing to pay. It's much smarter than guessing. Luna: Let's talk about the downside. What if you build a waitlist and then when you open it, nobody agrees to the new rate? Lucas: That's the risk. But if you've pre-qualified with budget ranges, you should have a good signal. Also, you can offer a slight discount for the first project — say, one ninety instead of two ten — to get the relationship started. Then raise again at renewal. Luna: So it's not all-or-nothing. You can negotiate within a band. Lucas: Exactly. Sarah did offer one client a one ninety rate for the first three months, with a clause that it would go to two ten after. That client is still with her. Luna: I think this strategy works best for freelancers who have a repeatable service, not just one-off projects. Because you need the relationship to continue. Lucas: That's a good point. Sarah's work is project-based but often leads to ongoing retainer for user testing. So the waitlist feeds into a recurring revenue model. If you're a one-and-done consultant, it might be harder. Luna: Speaking of recurring support — and this ties in — we've talked before about how listener contributions help us keep this show ad-free and focused on tactics like these. Lucas: Yeah, it's a small group of folks who chip in monthly through buy me a coffee dot com slash fexingo, and that literally funds producing this many episodes. If this episode helped you think about pricing differently, that's exactly the kind of thing that keeps us going. Luna: It's a simple way to support the work if it's been useful to you. No pressure, just good to know it's there. Lucas: Alright, back to the waitlist. Let's talk about the actual email Sarah sent when she opened the waitlist. She didn't just say 'I'm available.' She said 'I have limited capacity opening up and wanted to give you first access.' Luna: That's smart — it makes the client feel privileged, not like they're being sold to. Lucas: Right. She also gave them a two-week window to respond. That created urgency. And she included the new rate in the email, so there were no surprises. Luna: Did she offer a phone call or just a proposal? Lucas: She offered a fifteen-minute call to discuss scope. During that call, she reiterated the rate and asked about timeline. The ones who moved fast got earlier start dates. Luna: So she used time as a lever too. 'If you want to start in June, I need a decision by May 15th.' Lucas: Exactly. And it worked. She filled three slots within the first week. Luna: I'm curious — did any of the waitlist clients who didn't book come back later at the higher rate? Lucas: Yes. Two of the five who initially passed came back about three months later and accepted the rate. They had tried other researchers and found Sarah's quality was worth the premium. Luna: So the waitlist also acts as a filter for price-sensitive clients. You'd rather not work with them if they're going to nickel and dime you. Lucas: Absolutely. And that's one of the biggest takeaways. The waitlist strategy isn't just about raising rates — it's about changing the type of clients you attract. Higher rates attract more serious, better-funded clients. Luna: What about the emotional side? I imagine it's scary to turn away work when you're not sure. Lucas: It is. Sarah said she almost backed out after the first week with only four sign-ups. But she committed to a three-month test. And by month two, the list was growing organically through referrals. Luna: So you need a minimum test period. Don't judge it after a week. Lucas: Exactly. And you need to have a financial cushion. Sarah had three months of savings, which made it easier. If you're living paycheck to paycheck, this is harder to pull off. Luna: That's an important caveat. This strategy is for freelancers who have some stability and want to level up. Lucas: Right. But even if you're not there yet, you can start small. Maybe you just pause new client acquisition for two weeks, collect names, and see what happens. You don't have to go all in. Luna: I like that. A low-risk experiment. What's one concrete step a listener could take today? Lucas: Go look at your last six months of inquiries. Count them. If you have at least two per month, you have enough demand to try a waitlist. Update your calendar link to say 'currently at capacity, join the waitlist' and see who shows up. Luna: And if you don't have that demand, maybe the first step is to build visibility. But that's a different episode. Lucas: It is. For now, the waitlist is a powerful tool if you have the demand signal. Sarah's story shows it's not just theory — it works. Luna: I'm actually going to try this myself. I have a few ongoing clients but I've been thinking about raising my rate for new ones. A waitlist feels like a safe way to test. Lucas: Let us know how it goes. We can do a follow-up in a few months. Luna: Deal. And for everyone listening, if you try it, share your results with us. Lucas: Alright, that's all for today. Thanks for being here.