For those of us who freelance for a living, the idea of making six figures can seem pretty daunting. We’re not freelancing because we’re lazy, or because we don’t want to work regularly we do it because there’s particular freedom that comes with being your own boss.
However, there are also challenges involved in being our own bosses, particularly when it comes to setting financial goals and sticking to them. That’s why I’m going to share with you how I went from earning $45,000 per year as an employee to six figures as my boss:
| Takeaways |
|---|
| 1. Specialize in a high-demand niche. |
| 2. Build a strong personal brand and online presence. |
| 3. Set competitive rates based on your skills and experience. |
| 4. Cultivate a network of valuable clients and maintain relationships. |
| 5. Continuously improve your skills and stay updated with industry trends. |
| 6. Dedicate time and effort to effective marketing and client acquisition. |
| 7. Prioritize consistent and exceptional work quality. |
| 8. Manage your time effectively and meet project deadlines. |
| 9. Overcome self-doubt and imposter syndrome. |
| 10. Consider specializing in industries or niches with higher earning potential. |
I Barter
One of the best ways to make money as a freelancer is to barter. I’ve been doing it for years, and have even done some amazing trade deals. I’ve traded services for services, items, cash, and advertising.
I know what you’re thinking: “Bartering doesn’t work! It’s too complicated! It takes way too much time and effort!” But it doesn’t have to be like that at all if you treat your bartering like a business transaction instead of an awkward exchange between two people who don’t particularly want anything from each other (but do want something), then it’s not hard at all.
Plus there are tons of people out there just itching to trade with you and if they don’t know how or where to find them yet (or why), then tell them about this article so they can start making trades too!
You can email me if you need any help getting started with this process because I think everyone should learn how effective trading is when done correctly it’s great for both parties involved in any deal made via barter 🙂
Building a successful freelancing career requires finding safe platforms to get paid. Check out our comprehensive list of safe freelance sites to get paid and start your freelancing journey on the right foot.
I Love To Socialize, So I Don’t Shy Away From Events
I love to socialize, so I don’t shy away from events. I love to meet new people and make new friends. I am always interested in learning about other people’s experiences and how they made them happen. So when an opportunity arises for me to attend a conference or seminar, I jump on it!
The reason why freelancers like myself earn six figures is that we are willing to put in the hard work necessary to achieve success. We are willing to do what it takes to get our name out there and grow our business into something great.
I Never Stop Learning, And Neither Should You!
One of the best ways to make money as a freelancer is to never stop learning. I read books, listen to podcasts, and attend workshops and conferences whenever possible.
Freelance writing isn’t for everyone, but if you’re interested in becoming a freelance writer (or just curious about it), here’s what you should know:
Learning from your mistakes is one way that successful freelancers grow their businesses. It’s also an important part of my personal development as an entrepreneur. When things go wrong on a project or with a client, I learn how not to do that again and how to prevent similar problems from happening again in the future with other clients or projects.
We must keep this kind of information fresh in our minds so we can be more efficient and effective going forward!
I Make A Schedule And Stick To It
You don’t have to work all day, every day. You just have to schedule it that way.
When you make a schedule for yourself, you’ll be more likely to follow through on it because it’s written down and there’s a consequence if you don’t follow through. (If I don’t stick to my schedule, then I’m out $30.)
You can use Google Calendar or any other scheduling tool (Trello is great too) that works with your phone so you’ll never forget an appointment again. If your cell phone doesn’t alert you when appointments are coming up, then set an alarm on your computer or desktop computer so that they’re always in front of your face when they’re supposed to happen.
Once the basic structure of your week is set up your weekly goals should be scheduled first in the week it’s easier for freelancers like us who want extra money from side hustles like freelance writing gigs or selling products online through Amazon FBA services like Merch by Amazon or Printful T-Shirt Printing Services.
As well as direct sales marketing companies like Beachbody Coaches Unlimited which sells fitness DVDs and workout programs by health coaches such as Chalene Johnson who founded Beachbody after realizing she could make money selling workout videos after she lost 100 pounds herself in only 90 days!
Consistency is key for freelancers. Discover the 20 essential metrics you need to track to maintain a successful freelancing career in our guide on The Consistent Freelancer: 20 Metrics You Need to Track.
I Charge What’s Appropriate
As a freelancer, you need to charge what’s appropriate. You can do this in several ways:
Charge what the market will bear. The first step is to establish your worth by researching how much others are charging for similar work. This will help you determine what your price should be and give you an idea of how much money you should be earning (or have leftover).
Charge what’s comfortable for both parties. Unless it’s something that needs to be done right away and won’t wait, aim for convenience when negotiating with clients so they can pay easily without feeling like they’re getting ripped off.
Or that they’re being taken advantage of just because they’re working with a freelancer instead of an employee who has set wages and benefits from their employer.
Charge based on value delivered rather than time spent on each task if possible–the more value someone gets out of using your service/product/tool/etc., the higher their perceived ROI will be!
I Get Paid First
As a freelancer, it’s critical to be paid first. This is one of the biggest ways that you can avoid getting ripped off you’re not as likely to get stuffed if you don’t send your invoice until you’ve been paid.
Here are some tips for making sure that happens:
Make sure your invoices are clear and easy to understand by both parties involved. Include relevant information such as dates, project descriptions, and how much time was spent on different tasks so there will be no confusion about what should be included in the final payment amount.
The best way to ensure payment is through escrow services like Upwork or Freelancer these websites collect payments from clients into an account which they then distribute among their freelancers (minus any fees).
You can also use PayPal or Square Cash but these options only offer limited protection against fraudsters who may try to charge back their payments later on down the road once they realize they’ve been scammed by someone else pretending not only did they hire somebody but received an itemized invoice as well!
I Don’t Hide My Rates
If you’re freelancing, there’s no need to hide your rates. You should feel confident and proud of the services that you provide.
If a potential client asks about your rates, tell them what they are. If they don’t like them, then they can look elsewhere for a different service provider one who is willing to work for less than what you’re offering.
If someone does try to negotiate with me on a rate and it happens every so often I’ll still stick by my original price point because I don’t want any part of their business if they can’t afford my services or don’t value the quality of my work enough to pay what I charge for them.
Unlock the secrets to freelancing success from someone who has been there. Dive into our article on Secrets I’ve Learned from Being a Freelancer to gain valuable insights and tips for your freelance journey.
I Don’t Undercharge
You have to know what you’re worth, and then charge for it.
Some people will tell you that undercharging is a good idea because it means you get more work. The problem with this thinking is that if your clients are paying less than the value of your services, they’ll never be able to afford anything else from you.
And if your clients are only willing to pay for the bare minimum, they’ll never be impressed by anything else in your portfolio either—and they’ll certainly never buy from you again!
In short: When I was just starting as a freelancer, I made two big mistakes:
- Not pricing myself adequately (i.e., charging too little money)
- Not demanding enough upfront (i.e., working on projects without having all of my costs covered first).
If you’re considering a career in freelance writing, we’ve got compelling reasons why you should give it a try. Explore our article on Reasons Why I Think You Should Try Freelance Writing to learn more about the benefits and opportunities in the world of freelance writing.
I Use A Separate Bank Account For My Business Expenses Only
Separate your business bank account from your one. This is a must for keeping track of your expenses and making sure that you’re not mixing the two up.
I use an app called Personal Capital to keep track of my finances and budgeting. It helps me see where I can make more money when it comes to spending, as well as find ways I can save more by cutting out unnecessary purchases or reducing my monthly expenses.
When it comes to freelancing, there are a few things that I do differently than most other businesses:
First, off, instead of using a credit card for all my business purchases (like most people would), I prefer using debit cards instead because they have built-in fraud protection if something goes awry (i.e., someone hacks into the network). Plus they come with rewards points!
Second off even though this might sound silly you mustn’t mix up your accounts with those used exclusively for work purposes such as paying bills or buying supplies/equipment needed during specific projects (Hint: Keep these separate!).
Honestly Referrals Or Testimonials
Honestly referrals or testimonials.
Referrals work well when you have a solid relationship with the client and they are happy with your work. It’s better to refer someone after you’ve worked on multiple projects with them since they will be more likely to refer others if they’ve had an overall positive experience working with you.
A testimonial is something like this: “Every time I need a logo, I go straight to Patrick Smith.” Or maybe it’s: “I get all my web design done by Patrick Smith.” Either way, what makes this kind of testimonial so powerful is that it comes from an actual person who has worked directly with me.
Testimonials like these greatly improve my credibility as a freelancer because they show potential clients how satisfied previous clients were with the service I provided for them and that means more work for me!
Are you on the right path to a successful freelancing career? Discover the 15 signs that indicate you’re heading towards success in our guide on 15 Signs You’re on Your Way to a Successful Freelancing Career.
Conclusion
I know it can be hard to get started, but if you want to quit your job and work for yourself, it’s entirely doable. Like anything else, though, you need a plan.
You need to be disciplined about your time, find ways to save money on things you don’t need or use anymore (like cable) and make sure that there are no distractions from things like social media or TV for this type of lifestyle change.
If I did all these things five years ago when I first started my freelancing career then maybe today I would have been able to write this post from my yacht instead of sitting at my desk writing it!
Further Reading
Here are some additional resources to further explore the topic of making six figures as a freelancer:
How to Make 6 Figures in Your First Year Freelancing: Learn valuable strategies and tips for achieving six-figure income in your first year as a freelancer.
How to Make Six Figures as a Freelancer and Still Have a Life: Discover expert advice on balancing a successful freelancing career while maintaining a fulfilling personal life.
Six-Figure Freelancer: Dive into the world of six-figure freelancing with insights, success stories, and practical guidance from experienced freelancers.
Frequently Asked Questions
How Do I Make Six Figures As A Freelancer?
The truth is that you can’t just sit back and wait for the money to roll in. You have to work at it. If you want to make six figures, treat your business like a business and treat yourself like an employee. That means setting goals, tracking your progress, and being accountable for your success or failure.
What Are Some Of The Best Ways To Get More Clients?
One of the best ways to get more clients is by networking with other freelancers who are already working with clients in your industry (or who are starting). This way, they already know who you are when they need help! Another great way is online platforms like Upwork and Freelancer these sites allow you to bid on jobs from potential clients across the globe.
What’s The Best Way To Stay Organized?
There are tons of different tools out there for staying organized from Google Calendar (which shows all your appointments on one screen) down to list-making apps like Evernote or Trello (which let you add tasks and subtasks). You should try them all until you find one that works
How Do You Make Money As A Freelancer?
Freelancers are paid for their work, not hourly. The average freelance rate ranges from $25-$100 per hour, depending on the type of work you’re doing and your experience level.
What Does It Take To Be Successful?
To be successful as a freelancer, you need to have a high level of self-discipline and motivation to get things done without supervision. You also need to be able to take initiative and be able to do your research when needed.
How Much Do Freelancers Make?
It depends. It’s possible to make no money as a freelancer, but if you’re working hard and taking your work seriously, there’s a good chance you’ll be able to make six figures in the long run.
Is It Hard To Find Freelance Jobs?
No! You can find freelance jobs on sites like Upwork and Fiverr. Just remember that there are some scams out there, so be careful who you work with.
How Do I Get Paid?
You’ll get paid in one of two ways: either as an hourly rate or a commission on the completion of a project. Most freelancers prefer to be paid by the hour because it allows them more flexibility in their schedule, but some clients prefer paying by project completion. It depends on what works best for both parties involved in the transaction!
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.