Discover how to go freelance and make a high income from the comfort of your own home. Follow a proven strategy to halve your work time and 3X your income.
What You Will Learn
Why Go Freelance?
Let’s be honest...everything they told you about careers in school was utter nonsense.
No doubt they said the key to a successful career was to work hard in school, get good grades and then a college degree. Then you get a lowly-paid intern job (while deep in student debt) and slowly work your way up the ladder.
You put up with commuting, office politics and doing a job you hate for maybe 40 years or so. If you’re lucky, you work your way up the greasy pole and get a half decent salary.
Eventually, the day will come when the company doesn’t want you anymore. You are made redundant, or forced to retire. Then you are expected to get by for the rest of your days on the money you have managed to save and invest over the years.
Everything in our education system is designed to fuel this one strategy - get a job, and stick with it until you get put out to grass. We are taught to what everybody else does, play safe and don’t mess with the rules.
But there are some major problems with this strategy:
1. It Sucks...Bad!
If you have any doubts about how miserable most people are in their jobs, just get on a commuter train at 8.00am. You will see a carriage crammed with unhappy individuals, trying to pluck up the courage to face another awful day at the office. That’s their life going down the toilet.
You probably won’t see anyone smile. You might just see someone jump under the train because they can’t stand it anymore.
After a few years in this work, the routine becomes crushing. Monday to Friday, you are away from home from perhaps 6.00am to 8.00pm. You rarely see your kids because they are in bed by the time you get home.
And forget having fun at the weekend. You will be too busy doing all the chores you couldn’t do during the week. Cutting the grass, decorating, gardening, taking out the trash...and a whole lot more.
Next thing you know, 40 years have gone by and you are on the scrapheap. Retirement gives you the time to do the things you want - but now you are too old and broke to enjoy them.
Is that how you want to live your life? I don’t...that’s for sure!
Just because millions of people waste their lives in this way, that doesn’t mean you have to. You have options - make the most of them!
2. It Doesn’t Work Anymore
Not only is the job-for-life system a poor option, it’s also a broken one.
The days when people stayed with a single company for their entire career are far behind us now. Forget hanging on to get your gold watch - you will probably be out through the revolving door long before you get to that stage of life.
We live in a world where hiring and firing is normal. Businesses change rapidly, and their staffing needs change with them. If your job becomes redundant, you may find yourself out on the street.
Don’t expect a corporate Big Brother to take care of you - get used to taking care of yourself. That’s the way things are in the 21st century, and the changes are only just beginning.
3. There is a Better Option
If the paragraphs above have you crying in your coffee, don’t panic - I have good news! You don’t have to worry about losing the job-for-life option, because there is now a much better choice.
We are now living in a ‘gig economy’ where freelancing is on the rise in a very big way. A study by the Freelancers Union estimates that 57.3 million Americans are freelancing (36 percent of the U.S. workforce). They contribute $1.4 trillion annually to the economy, an increase of almost 30% year-on-year.
For most people, the decision to freelance is a lifestyle choice. These are not people who are forced to freelance because they can’t get a full-time job. The majority are choosing a freelance career because it offers more security than a day job.
The study found that:
Freelancers are getting paid good money, too. According to Forbes, there are 3.3 million freelancers in America earning over $100,000 per year.
People Also Ask
What does it mean to be a freelancer?
As a freelancer, you undertake work on a project-by-project basis, rather than working solely for one employer. A freelance professional will typically have a number of clients who pay for specialist skills by the hour or by the project.
Do freelancers get paid?
Freelancers get paid according to their expertise, experience and qualifications.
The more specialized the service, and the greater the value offered to the client, the higher the rates earned. For example, copywriters who generate substantial sales for their clients can earn millions of dollars a year.
How do I get freelance work?
There are many ways to find freelance work. You can sign up with any of the popular freelance marketplaces, or search for freelance jobs on general job boards.
You can also advertise using Google or Facebook ads, or market your services directly to potential clients.
The Freelance Opportunity
So if you are stuck in the work-in-day-job-until-you-die-mentality, now is the time to make a mental shift. Over the next few years, we can expect to see freelancing growing even further as a mainstream career possibility.
For you, this means an opportunity to change your life dramatically. And I mean to change it for the better...much better!
It’s no accident that the word ‘free’ is to be found in ‘freelance.’ When you become a freelancer, you get the kind of freedom that full-time employees can never enjoy. Here are some of the big differences between freelancing and working a day job:
Let’s take a closer look at some of the benefits of the freelance approach to life:
1. Greater Income
Unless you are senior-level executive, you are likely to make much more money as a freelancer compared to a full-time employee. And instead of taking years to climb the greasy pole, you can start making great money right out of the gate.
As we have already seen, millions of freelancers in the US alone earn over $100,000 a year. Worldwide, the figure is much higher. And there even freelancers who make well over a million dollars a year. Bloggers and copywriters are typical examples.
2. Better Lifestyle
Who wants to get up at some ungodly hour when your alarm clock goes off? Not me! As a freelancer, you are free to work the hours that suit you. You can get up late and have a leisurely breakfast - or make an early start then knock off at lunchtime.
Vacations? You can take as many as you want - from a day off to watch your kids in a school play, or a month to go on a global adventure. It’s up to you...you are the boss.
We are now living in a ‘gig economy.' A study by the Freelancers Union estimates that 57.3 million Americans are freelancing (36 percent of the U.S. workforce). They contribute $1.4 trillion annually to the economy, an increase of almost 30% year-on-year.
Better still, why not combine the best of both worlds by becoming a digital nomad? That way you can travel the world, freelancing as you go and making great money along the way. For freelancers, the lifestyle options are endless.
3. More Rewarding Work
Earning a high income is great, of course, but do you really want to sell your soul in a job that sucks all the life out of you? As a freelancer, you don’t have to.
Instead of being forced to do whatever your employer wants you to do, you can choose the work that suits you best. You can ditch all the boring jobs, and do more interesting ones instead.
The same goes for clients, too. Instead of being stuck with a boss you hate, you choose who to work with. If a client becomes difficult, just ditch them and find someone better. You are in control!
4. More Time With Your Family and Friends
When you cut out the daily commute, you could be saving 10 hours - maybe even 20 hours - a week of traveling time. And because you earn much more money per hour, you don’t have to work so hard to make ends meet.
Just think what a difference that will make to your life. It could mean being there to pick your kids up from school, instead of putting them into childcare. Or being able to fit in a round of golf before dinner.
5. Less Stress and Worry
Working for yourself is always less stressful than working in an office or industrial environment. You don’t have to worry about getting to work on time, or being late back from lunch.
You also enjoy better long-term security, too. As an employee, you never know when you could lose your job - especially in these uncertain times. You could find yourself suddenly unemployed with no way to pay the mortgage and the bills.
But as a freelancer, you are not dependent on a single employer. You may have 10 or more clients who give you work on a regular basis. If one of them stops giving you business for any reason, it’s not a big deal.
You will still have plenty of work on the go, and ample time to find another client to fill the gap. Freelancing just works so much better.
Types of Freelance Work
So what kinds of work can you do on a freelance basis? In reality, almost any job fits the bill - but it’s easier with jobs that can be done online. Here are some ideas to get you started:
Don’t be limited by those ideas, though. If you have an existing skill, you can probably leverage that talent to create a freelance career.
As technology evolves, new freelancing opportunities are emerging. Already, there are many profitable freelance service options that didn’t exist before the Internet, including consulting in:
Get Ready to Freelance
Once you have identified your freelancing niche, you need to build the foundations of your business. Here are the three most important things to pay attention to:
Create a Website
Potential clients will expect you to have a website where they can find out more about you. But if this sounds scary, don’t panic. Thanks to today’s simple-to-use tools, it’s easy to start your website.
Be sure to include an ‘About’ page which gives more information about you and your background, plus a ‘Contact’ page where prospects can get in touch.
You should also have a ‘Work with Me’ page which details the services that you offer, and how clients will benefit from working with you.
Build a Portfolio
Next you will need some samples of work to show potential clients.
For work with deliverables in digital form - such as freelance writing jobs or design work - that’s easy. Just find some examples of your previous work and upload them to a special section on your website.
If your work is more intangible - such as search engine optimization services - use case studies. Write up a blog post which explains how you helped a particular client, and the results obtained from your work.
Don’t have any previous clients yet? That’s OK - you can work around it. Create examples of the kind of work you would create for clients, or write a document explaining the strategy you would implement.
Clients just need to feel that you are competent enough to get the job done. If you can convince them of your expertise, you will get work. Even if you are a newbie.
Get References and Testimonials
One of the biggest assets you can get for your business is references and testimonials from previous clients - or from others who can vouch for your skills.
Don’t be afraid to approach people and ask them to write a testimonial for you, and to act as a reference if required. If you can persuade them to create a quick testimonial video on their smartphone, so much the better.
A few good testimonials will set you on your way to finding more work, faster.
Set Your Rates
One of the biggest mistakes that freelancers make is undercharging for their work. Don’t base your hourly rate on what you earned in your day job - that is undervaluing yourself and underestimating how much you need to earn.
Remember that as a freelancer, there is a limit to how many billable hours you can do. You need to allow time for marketing, vacations, time off sick, etc. This table shows just how much these costs eat into your income:
As you can see, your billable hours may work out at around half of your total available hours. So you have to charge double what an employee earns hourly just to make the same money.
Then you have to allow for the additional business costs that employees never have to worry about - business insurance, accounting and tax preparation, marketing costs...and so on.
So as an absolute minimum, you need to charge three times an employee’s hourly rate, just to tread water.
But in reality, charging by the hour is not the best way to bill for your services. Instead, you should base your costs on the value you offer to clients. If your marketing services add a million dollars to the company’s bottom line, they can afford to pay you at least 10% of that...or even more. The amount of time you put into the work is irrelevant.
This is the kind of thinking that will help you get into the six-figure - or even seven-figure income bracket.
Don’t expect results overnight. It may take a little while to get some traction. But if you keep on marketing on a regular basis, you will find that inquiries will start coming in.
As soon as you land your first client, you are on your way. With one customer under your belt, you will find it much easier to bring other clients into the fold. Your business is taking off!
Negotiating the Deal
If you are used to getting a fixed salary, the idea of negotiating a deal with a client may seem daunting. But this is a skill that you will learn as you go, and one that is important to your business development.
If you get a prospect who tries to slash your prices to the bone, don’t take the bait. Tell them to take a running jump. Clients who want a low-cost deal are not only unprofitable, they are often the worst kind of customer.
They will expect you to do more than you agreed, and may drive you crazy asking for changes and additions. They will probably drag their heels on payment, too.
You need to find clients who appreciate the value of what you do. You may be prepared to negotiate down a little for a company that gives you regular work, but make sure the work is clearly defined.
‘Scope creep’ can kill your profits. This is when the client gradually increases the volume of work that needs to be done, without offering to pay extra money.
Don’t let this happen! Make it clear what you are quoting for, and tell clients that there will be additional charges if the scope of the work changes. You simply can’t afford to work for free.
Getting the Job Done
One of the most important things a freelancer must do is hit deadlines. If you agree to delivery a project by Friday, then it must be delivered on Friday (although Thursday is better). Saturday morning is not good enough.
Many other parts of the project (such as design and print) may depend on you delivering your part of the work on time. If you are late, that may start dominoes falling through the whole project with catastrophic results.
So take deadlines seriously, and avoid being a perfectionist. Quality is important, of course. But good work delivered on time is always better than brilliant work delivered late.
Growing Your Freelance Business
Now you have a successful freelance business that is picking up clients and creating a wonderful new lifestyle for you - plus a much improved income. You have proved that it is possible to go freelance and succeed.
So what’s next? If you are happy with the way things are going, you can continue to operate just as you are. Many people work for decades in a freelance capacity, working well past traditional retirement age because they love their work so much.
But if you have bigger dreams, maybe you want to scale things up. If you keep marketing aggressively, you will soon have more work than you can handle alone. Then it’s time to start hiring other people.
Your one-person freelance person can rapidly grow into a busy agency or consultancy, perhaps doing over a million dollars a month in recurring revenue...or even much more.
You could become a major player in the agency/consultancy and grow your business into a global empire. Or you could devise an exit strategy that allows you to sell up and land a huge cash windfall.
All of this and more is possible when you make the decision to go freelance. Today could be the beginning of a whole career that will change your life.
Go freelance...get rich...be happy!