Self-employment has always been a sought-after alternative to getting employed. But usually, it meant starting a traditional business, unlike freelancing which revolves around securing gigs and working on short-term contracts.
There was a time when people were skeptical about such an arrangement because it wasn’t conventional. Fast forward years later, freelancing has gained so much popularity as a legit way of earning a livelihood.
From the outside looking in, freelancing seems like an easy way of making a living.
But is it? In reality, many struggle to make money as freelancers, and some even quit and return to their day jobs.
How to Actually Make Money Freelancing
We are not going to talk about how to start a freelance business because you probably already know that. Maybe you’re already a newbie trying to grow your business and make the kind of money you see veterans post about on social media.
But if you’re yet to join the industry and would love to give it a shot, Gigly has an in-depth guide on how to start a freelance business from scratch and even quit your day job.
Making money from freelancing comes down to a series of strategies. Nothing happens by chance.
You should consider whether you want to make some money (like a side hustle thing) or make good money and possibly turn freelancing into a career.
If you’ve heard that freelancing is easy, it most likely has to do with earning side money to supplement other income streams. You won’t even need to search for clients. Just sign up with freelance platforms like Upwork and Fiverr and offer your services for some money.
The hard work is taking your freelancing to the next level and turning it into a serious business. While making good money as a freelancer doesn’t happen overnight, it’s a goal you can achieve in a year or less.
Here are strategies to use you can use to make good money as a freelancer this year:
One piece of advice you often hear in the freelance industry is to narrow down your niche. It may feel like you’re losing out on other projects when you restrict yourself to one thing, but that’s what veterans do.
You don’t want to be a jack of all trades. While it opens you up for a wider pool of jobs, it makes projects available to subject matter experts out of reach for you.
If you’re starting, it’s fine to take whatever work comes your way. But at the same time, make an effort to specialize in a particular niche. deepdotweb coadmin to years
2. Revamp Your Portfolio
Portfolios are valuable assets to freelancers. You strive to build and use it as a fishing net for clients. It doesn’t matter what sort of freelance work you do. Whether you’re a freelance web designer, photographer, writer, or financial advisor, you need a portfolio.
However, a portfolio that brings you, high-paying clients, is one that’s continuously updated with projects that reflect current industry developments.
3. Adjust Your Rates
When you start freelancing, you’ll be more inclined to lower your rates to attract your first clients and start building your reputation and skills.
But to make real money as a freelancer, you need to scale your business.
Armed with a killer portfolio, adjust your rates to reflect the quality of services you offer and be confident enough to demonstrate to clients that you’re worth such rates.
4. Market Yourself
Knowing how to market yourself is vital because freelancing is like any other business. You need to find an effective way of reaching potential clients in your field.
There are various ways you can market your freelance services. Set up a website and guest blog on industry-related sites to increase exposure, leverage social media, and pitch prospects.
5. Pick Your Projects
It’s crucial to be clear on which projects you want to undertake from the outset. It doesn’t matter if you have a single client or a dozen, figure out the type of projects you want to take on and the type of clients you want to work with.
You shouldn’t consider projects that delay your progress, making it difficult to get where you want to be.
As a freelancer, you must decide where you want to take your venture. If it’s something you’re doing on the side, then you probably don’t need the legwork required to grow your business fast. But if you’re willing to go all the way, you can make big money in a year or less.