Thinking back, I realized that all my larger contracts have been with companies where I had an inside contact (friend who was working there). Also, look for companies in fields outside of internet technology. They certainly won't be spending $500K on webapps, but do want a modern presence online.

I'd recommend asking friends/family if there company is unhappy with their current website or other technology services. The market rate for design agencies is probably $15-50K, so an individual who can do it for slightly less than that and in a friendly manner is highly attractive.