How to make money through freelancing
The days of “full-time 9 to 5” jobs are all but disappearing given the rising costs involved and other hassles like the pain of reaching office on time and distances to be covered which makes the whole thing of employment quite unviable. On the other hand, the lure of working from home in one’s nightclothes till late in the day with time to spare for one’s own interests- despite lesser money coming one’s way does seem interesting to some, and more so for those who have been in the thick of things and now want to be on the periphery.
For those contemplating picking up freelancing as a form of career, there are a few things one should know about how to earn money in freelancing and how to do so for all times to come!
- Start when you are in your existing job so that transition is smooth
If you are presently in a full-time occupation/ job/ employment, DO NOT END EVERYTHING IN FAVOUR OF A FREELANCING VENTURE TO EARN! Incomes come crashing down all of a sudden and you won’t be able to pay even the most innate of bills and dues. It is thus good to plan way in advance, get your facts in place, start earning and then, take a plunge.
- If you are married or plan to, try having one partner in a full-time occupation.
How to earn money when both your legs are in hot water?? Well, you then dance and don’t earn. In such situations, try reducing your expenses and put money aside to take care of everyday expenses. Or get one of yourselves into a full-time job.
- Find yourself a niche if you want to work freelance and earn money.
Freelancing in a crowded industry with very little differentiation means you do what other do with wafer-thin margins and every chance of earning losses. Generic services these days has the world in it which had eroded margins to practically nothing. Instead, find yourself a profitable niche, perfect it and go for the kill. You could have a niche in systems, coding, ERP operation, and maintenance or even writing. Perfect your style and skill to its most and then go to the world.
- Do a proper audience analysis
If you don’t know who is likely to be your audience, what and whom do you approach? All your niche-building would be a sheer waste in the absence of knowing ultimately who is to use your services. So, besides sorting out your audience, know what you shall offer them. Do a super-detailed analysis right from the beginning as it would make life easy for you when you get into the job full-time.
- Perfect your offering
In a crowded market, know for sure what you offer and know that with all terms, conditions, bells, and whistles in clear terms. Your payment amounts, stages, related warranties, and guarantees etc should be very, very clear to you from the very beginning. With such clarity, you would be approaching your clients to make money through freelancing with a zeal and vigor which shall go some distance in helping you get the business that you always wanted.
- Build a portfolio
You could be the best in your field. But how does one recognize you as such if you do not advertise yourself? The best advertisement is one’s work at the end. For the same, try and get the kind of work you want to continue in and do it so many times that you can easily show the same as your body of work or a portfolio to those who matter in that line of business. Select the best of your work from the whole lot and form a beautiful and impressive portfolio such that you get further work.
- Keep upgrading your skills
You are as good as your work. And what you call work, changes with time. If you don’t upgrade your skills to match what your clients look for, you could very soon be second (or third/ fourth…) best which not quite up to the mark. If you remain the “also ran”, your chances of earning top Rupees and be recognized as an authority would be seriously compromised. You run the risk of letting competition get ahead of you! If that happens, your days, like it or not, are numbered!
These are but some of the steps a would-be freelancer ought to take to make money through freelancing. Life for a freelancer may seem interesting but has its own set of challenges. But then what is life without its set of challenges??