Freelancing is more than just a way to get some extra money by working at home. For many people, freelancing can become a career in its own right, and even become a full-time job if you’re willing to put in the time and effort.
The rise of the internet has opened up opportunities for anyone who wants to work from home or do their own thing without having to report to an office full of their coworkers every day. The big question: can you earn a living freelancing?
In this article, we’ll explore how much money it takes to get started with freelancing, how many hours are in a freelance day, and where you should look for opportunities.
| Takeaways |
|---|
| 1. Freelancing offers the potential to earn a sustainable income with the flexibility to work on your own terms. |
| 2. Building a successful freelancing career requires careful planning, market research, and identifying your niche. |
| 3. Developing a strong online presence, creating an impressive portfolio, and optimizing your professional profiles are crucial for attracting clients. |
| 4. Networking, leveraging social media, and utilizing freelancing platforms can help you find and secure freelance opportunities. |
| 5. Managing your finances, setting competitive rates, and continuously improving your skills are essential for long-term success in freelancing. |
The Rise Of The Freelancer
The freelance economy is growing. So much so, in fact, that it’s expected to grow by 2020. The future of work is a world where people can choose when they want to work and how they want to spend their time. And if you’re ready to start freelancing yourself, you might be wondering: What does this mean for me?
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What Is The “Freelance Economy”?
The term “freelancer” has been around for decades but it wasn’t until recently that we started seeing an increase in their numbers and with good reason! The Internet has made it easier for independent contractors (ICs) to find jobs and connect with potential clients than ever before.
In addition to making it easier for ICs and businesses alike, technology has also changed the way we think about hiring employees full-time versus hiring contractors on an as-needed basis. In fact, according to Deloitte University Press’ report titled Hiring Trends 2020:
Talent Drives Innovation, freelancers bring more value than traditional employees by bringing innovation into organizations through creative problem-solving skill sets such as critical thinking abilities which can lead companies towards greater success when hiring freelancers instead of traditional workers.
This is because they allow them more flexibility while allowing businesses access to many benefits including cost savings through lower overhead costs such as health insurance premiums paid out monthly instead of annually just one example among many others listed below:
Freelancing Is Not For Everyone
Freelancing is not for everyone. Freelancing is a great way to earn extra income, but it’s not a good idea for everyone.
Freelancers have to be self-motivated, independent, and able to do their own research and make decisions on their own. If those things sound like they wouldn’t work in your life, then freelancing probably isn’t right for you either.
That being said, if you think that freelancing could work for you then this guide will show you how
What Is Freelancing?
Freelancing is a way to earn money by working as a contractor rather than an employee. Freelancers are self-employed and set their work schedule, so they can work from home or coffee shops, depending on their needs. They also have the freedom to choose their clients and the type of projects they take on.
Freelancers can choose to work for themselves or companies and many freelancers do both! Some decide to start their own business, while others find themselves drawn into one field or another because of a particular client’s need for that type of expertise.
Being a consistent freelancer requires tracking essential metrics to measure your progress and success. Learn about the 20 metrics you need to track and stay on top of your freelance career. Explore our article on The Consistent Freelancer: 20 Metrics You Need to Track for valuable insights and tips.
The Pros And Cons Of Freelancing
All in all, freelancing is a great way to earn extra money. It’s also fun and exciting and gives you the freedom to work in your own time and at your own pace.
However, it will take hard work on your part to get clients, so if you’re looking for a get-rich-quick scheme, freelancing probably isn’t for you. You need to be organized and efficient when working alone but also have enough patience to wait until the right project comes along at the right time.
How Much Money Do You Need To Start A Freelance?
You don’t need a lot of money to start freelancing. You just need enough to cover your basic expenses until you can make enough money from freelancing to live on.
If you are planning on living in an expensive city like New York City or San Francisco, then it will be harder for you to get started because the cost of living is so high. In most other cities, there are plenty of places where creative people can live comfortably while working on their side hustle at home or wherever they choose.
Many online resources can help guide you through the process of starting up a freelance business such as Upwork and Fiverr.
These websites allow individuals with specific skill sets (such as graphic design) to offer their services at reasonable prices.
While also serving clients who may not be able to afford higher prices associated with hiring full-time employees who must be paid benefits such as health insurance premiums each month along with other employee perks such as 401K matching programs.
How Many Hours Are In A Freelancer Day?
You might be surprised to discover that the average freelancer works about 40 hours a week, which is only slightly less than their full-time counterparts.
The difference is that when you freelance, you’re less likely to have set hours and may end up working at all times of the day. Some freelancers prefer this flexibility but others need more structure in their life and prefer a traditional 9-to-5 job (or something similar).
It’s important to remember that this doesn’t mean you’ll be working 40 hours every week; some weeks you’ll have more work than others, but it also helps if your income isn’t dependent on how many hours you log at your computer.
A Day In The Life Of A Freelancer
The answer to this question is a resounding “maybe”. It depends on your work ethic and how much time you want to put into your career. If you’re looking for a traditional job, where everyone works 9-5 and gets two weeks of paid vacation per year, then freelancing isn’t for you.
But if you want flexibility in all aspects of your life and a chance at earning more money than what most full-time jobs offer (and don’t forget that freelancers get larger tax deductions each year), then freelancing might be the way to go!
If it sounds like making a living as an entrepreneur can be difficult, then let me tell you about my own experience working for myself:
If you’re considering freelance writing as a career path, you’re in for an exciting and fulfilling journey. Discover the reasons why freelance writing can be a great choice and how it can open up new opportunities for you. Read our article on Reasons Why I Think You Should Try Freelance Writing to learn more.
Best Places To Find Freelance Work
The best place to find freelance work is the Internet. That sounds obvious, but there are a lot of places online where you can find work and make money as a freelancer. Here is a list of some good places:
- Online job boards
- Social media
- Your network (friends, family, etc.)
- Freelancer job boards (eLance, Upwork)
- Freelancer marketplaces like Toptal and PeoplePerHour
- You can also use your blog or newsletter as a platform for getting clients by selling your services as an expert in your field.
Develop Niche Expertise To Stand Out From The Pack
Once you have a few gigs under your belt, it’s a great idea to start developing niche expertise. The more specialized your skills are, the easier it will be for you to stand out from the crowd and get more opportunities.
For example, if you’re an expert at writing blog posts about social media marketing strategies, then clients will come flocking because they know they’ll be able to get exactly what they need from you. Clients don’t want generalists who can write anything they want experts who can do one thing well!
The same goes for graphic design work: If people see that their website looks great and functions effectively on mobile devices (which is increasingly important), then they’ll hire you again and again even if there aren’t any new projects available right now.
This leads us to our next point:
Get A Website
You don’t have to be a web designer or developer to create a website. You can use free tools like Wix and WordPress, which are easy to use and even easier to learn.
These types of websites allow you to set up your domain name and host it on their servers so that people can access your site from anywhere in the world (check out “How To Get A Domain Name” below for more info).
On your website, including an about page where you explain who you are, what makes you unique as a freelancer/consultant/coach/writer/etc.,
How long you’ve been doing this kind of work, and what kind of services or products people can expect from working with you, any certifications or credentials that show potential clients that they’re getting someone legit (like being certified as an expert at something), testimonials from past customers who were happy with their experience working with them.
Basically anything relevant information about yourself and what makes working with your particular brand appealing.
Create A Linkedin Profile, But Keep It Focused On Business, Too
Linkedin is a great place to find freelance work, but it can also be used to connect with people in the industry you want to be in. You can use Linkedin to look for jobs and post your gigs, but you can also use it as a way to connect with peers in the field and learn more about what they do.
If you’re looking for freelance work, create a profile with lots of detail about what you do and how your skills could benefit others. Include any relevant experience or education so that potential employers know how qualified you are for the job.
Have A Portfolio That Can Be Viewed Online, Too
You want your portfolio to be easy to find, navigate and update.
You can start by making sure that you have a website for yourself and your work. This will make it easier for potential clients to find you and view your portfolio online.
You must have a website with content on it (like this blog) where people can see examples of your work, so they know what kind of quality they can expect from working with you as well as how well organized/skilled you are at writing copy or programming code, etc.
You also need an email address that people can use when contacting you about jobs; this should include “freelance writer” or “web developer” somewhere in the name so anyone who searches for these things finds it quickly without having to search through junk mail folders first!
Maintaining your health and well-being is crucial as a freelancer. Our comprehensive guide answers frequently asked questions about freelancer health, providing valuable tips and insights to prioritize your physical and mental well-being. Dive into our article on The Ultimate Guide to Freelancer Health FAQs to stay healthy and thrive in your freelance career.
Use Social Media As A Tool To Find Freelance Work (But Also Include Them In Your Portfolio)
Social media is a great resource for finding freelance work. After all, you can network with a lot of people in just the time it takes to check your newsfeed! A word of caution: do not post anything on social media that you wouldn’t want potential employers to see.
This means no swearing or inappropriate photos or videos (unless they’re super funny). So don’t be afraid to use social media as a tool just make sure that it’s part of your professional strategy as well.
Another good way to find work is by including links to your online portfolios on all of your profiles.
You should also include these links when applying for jobs in person; this way, if someone has any questions about what kind of work you’re capable of doing and how long it would take them, they can look at your portfolio right away instead of having to go through some kind time-consuming process just trying figure out what exactly makes up those skillsets and experiences listed on paper might mean?
Ask around within your professional network for freelance opportunities. Let people know you’re looking for work. Don’t be shy about it! They might have something for you or know someone who does.
Ask around within your professional network for freelance opportunities. Let people know you’re looking for work. Don’t be shy about it! They might have something for you or know someone who does.
Get on social media and see if anyone is talking about the kinds of jobs that interest you, or post a call-out yourself, saying “Hi everyone! I’m looking to get more freelance work experience in X area.”
This can lead to unexpected opportunities: perhaps someone will reach out with an assignment they need to be done right away, or maybe another freelancer will recommend your services to a client they already have working with them.
There are lots of different ways to find freelance work! So dig into your network and get started!
Now that you have a better idea of how to find freelance work, it’s time to get started!
Talk to people in your network. The first step is talking with people in your current network. These could be friends and family, former colleagues or bosses, people from classes and clubs that you’ve attended the list goes on.
If you’re wondering why this is important, think about how many times someone has asked for a favor from someone that they know personally but don’t know as well as themselves (and vice versa). One study showed that 88% of all referrals come from personal connections like these!
So what does this mean for freelancing? Well…when someone refers you (whether it be through their connections or theirs), there’s already an existing relationship between the two parties involved in the referral process which means there are fewer barriers when deciding whether or not to give up their time/work opportunity with someone else.
The relationship also gives both parties confidence knowing they’ll receive quality workmanship because they already know each other well enough beforehand to do so without hesitation.”
Creating a compelling Upwork profile is essential for attracting clients and standing out in the freelancing market. Learn how to make a great first impression and optimize your profile to showcase your skills effectively. Discover expert tips in our article on How to Make a Great First Impression with Your Upwork Profile and increase your chances of securing high-quality projects.
Conclusion
As you can see, there are many different ways to find freelance work. Some of these options might work better than others, depending on what kind of freelance work you’re looking for. For example, if your dream is to become a freelance writer or editor, then putting together a few different writing samples could go a long way towards landing some gigs.
In other cases, such as graphic design or photography, having a portfolio that showcases your talent and previous experience might be even more important than networking with potential clients (though it doesn’t hurt!).
And if the whole idea of going out on your own as an independent contractor makes your heart race with excitement, then read up on all the benefits and drawbacks before making any big moves!
Further Reading
Here are some additional resources you may find helpful to dive deeper into the topic of freelancing:
Earn More Money Freelancing for Beginners: Discover strategies and tips to increase your earning potential as a freelancer.
How to Be a Freelancer: A Beginner’s Guide: Learn the essential steps and considerations for starting a successful freelance career.
How to Make Money Freelancing: Explore various avenues and methods to generate income as a freelancer.
FAQs
How do I find freelance opportunities?
To find freelance opportunities, you can explore online platforms specialized in connecting freelancers with clients, such as Upwork, Freelancer, or Fiverr. You can also network with professionals in your field, join industry-specific communities, or market your services through your own website or social media platforms.
How do I set my freelance rates?
Setting freelance rates can depend on various factors, including your skill level, experience, industry standards, and the value you provide to clients. Research the market rates for your specific services, consider your expenses and desired income, and adjust your rates accordingly. It’s also essential to be flexible and adaptable as you gain experience and build a reputation.
How do I manage my finances as a freelancer?
Managing finances as a freelancer involves several key practices. It’s crucial to separate personal and business finances, keep track of income and expenses, set aside taxes, create a budget, and establish an emergency fund. Utilizing accounting software or hiring a professional accountant can help streamline financial management tasks.
How can I market myself as a freelancer?
To effectively market yourself as a freelancer, start by defining your target audience and identifying your unique selling points. Create a professional website or portfolio to showcase your work, optimize your online presence through social media and professional networking platforms, leverage testimonials and referrals, and actively engage with potential clients through networking events or industry-specific communities.
How do I maintain work-life balance as a freelancer?
Maintaining work-life balance as a freelancer requires setting clear boundaries, establishing a routine, and practicing self-discipline. It’s important to define specific working hours, create a dedicated workspace, prioritize self-care and breaks, and communicate expectations with clients. Time management and effective planning can help you maintain a healthy balance between work and personal life.
Do I Need To Be A Master At Everything?
No, you don’t. You just need to know enough about different things to be able to complete projects for clients. For example, if you’re a good writer but not so great with design, you could still be successful as a freelancer.
You’d just work with an illustrator or graphic designer for the visual elements of your projects. Once you’ve gained experience, you may even decide that certain parts of your work can be outsourced completely, for example, if you’re a great writer but terrible at making videos, it might make sense to invest in hiring someone skilled at video production.
What Are The Best Platforms For Finding Freelance Jobs?
There are lots of sites where freelancers find jobs and companies find freelancers: Upwork (formerly oDesk), Fiverr, Freelancer, Guru, and many more.
How Much Money Can I Make Freelancing?
That depends on the type of work you do and how much you’re willing to hustle to get clients. If you want to earn more money, then you’ll need to be able to charge more for your services.
How Do I Get Started Freelancing?
The best way is by finding a niche where there are lots of potential clients and then learning how to market yourself effectively. You can also network with other freelancers who have been doing this for some time already and ask them for advice on how they got started themselves!
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.
