Becoming a freelancer or self-employed can feel like a breath of fresh air sweeping through your life. However, if you are not well prepared for the challenges that freelancing can provide then it can often be difficult to earn what is a living wage.
We looked at some top productivity tips to help you work more efficiently and find freelance success.
Know Your Price
There are generally three schools of thought when it comes to freelancing. Some believe that is a lot easier to secure excellent remuneration, while on the flip side others feel it is impossible to make a respectable salary. The truth, and the third opinion, is probably somewhere in the middle. You won’t “get rich quick” or anything like that, but with hard work you can certainly build up your brand and offer to the point where you are very well off.
The key to getting this right is to know your price. Whatever sector you work in, whether it be web design, copywriting, or physiotherapy, ensure that you have researched the going rates for the role and that you decide what yours is going to be. If you are going above and beyond what is generally regarded as a fair price, however, you must be prepared to demonstrate that you can offer something different.
Build a Portfolio
The absolute key to successful freelancing is to build a portfolio of regular clients as much as possible. Try not to work with one client that is responsible for a large percentage of your revenue. Of course, this can seem lucrative at the time, however should the client end their need for your services you will find yourself fighting to fill the hole in your finances.
Wherever possible, look to acquire “retainers” with as many clients as possible as an agreement for prioritizing their work requirements at various times.
There is nothing worse as a freelancer than sitting down on Monday morning and thinking “what do I do today?” At the end of each day, week, or month, plan ahead what you are going to be doing during the subsequent time period. Not only will this make you much more productive but it will also allow you to look at your financial situation, for example, or indicate where you may have free time to complete work for another client.
If you only communicate with your clients once or twice per month, when exchanging invoices or plans for the next month, then you are not maximizing your relationship. Instead look to set up a regular communication channel, be that e-mail, face to face, or a middle ground such as Skype, so there is a constant dialogue stream on both sides and both parties know where they stand.
Freelancing can be lucrative if you get it right, and nailing these key aspects will set you well on the road to self-employment success.
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