Ways To Make More Money Freelancing
Most freelancers make the same rookie mistakes that result in getting paid way too little for your valuable work. Learn how to avoid them, charge higher rates, and make more money freelancing this year.
If you’re ready to get serious about freelancing and multiplying your self-employed income, here are the top twelve tips for earning more during your first year.
1. Pick a Niche (Specialize)
If you’re new to freelancing, you might feel the need to take any paid work you can get your hands on. But as you get deeper into your freelancing career, you’ll need to start being more strategic about the types of work you do and the clients you take on.
But if you’re going to make more money freelancing, you’ll have to drop the jack of all trades bit and narrow down your niche.
But How can getting picky about the freelance work you do help you make MORE money?
Simple, because when you specialize, you become an expert in a specific field, and experts can charge more for their specialized services.
Once you start focusing on your chosen niche and only looking and serving those kinds of clients, you will begin to make more money freelancing. This may seem like you’re limiting yourself, but it’s actually strategic. Clients pay more for experts and specialists. This is true in the corporate world and it’s true when you’re freelancing.
2. Don’t Immediately quote your price to potential clients
If a prospect does not ask you for your rates right away, Don’t tell them. In fact, put the ball in their court to feel them out. Normally, the first person to mention a number loses the negotiation. There will be instances where you’ll be surprised by clients who will want to pay you three times what you had in mind!
And if a prospect should come to you with a low number, you will know not to waste your time with that client. Unless maybe you really need the money.
3. Be smart about job boards
You will have to place a high value on yourself. You’ll have to value your work or no one else will if you want to make more money freelancing. You’ll have to stand up for your value every day.
There are some great new online marketplaces—like fiverr—that allow you to offer your services worldwide. And don’t let the name fool you—people will pay much more than $5 if you can offer them quality services in return.
What i’m trying to say is, not all job boards are created equal. So you should stop wasting time on the ones that pay you peanuts.
So, if you want to make more money freelancing, you should create an action plan to:
- Refine your niche. You can’t specialize enough. The more you do, the more you can charge for your work.
- Raise your rates. Stop quoting low rates because you’re afraid the client will say no. Always negotiate.
- Look beyond job boards. They may be necessary to get your first few gigs, but tapping your network—along with referrals and repeat customers, will always pay more.