Wobizzle

Insight, information and community for female freelancers and solopreneurs

Six Ways To Make More Money As A Freelancer

As a freelancer, cash flow is often a feast or famine situation, especially when you are first starting out. Employing strategies to level out those peaks and valleys is essential. Here are some lessons I have learned along the way and tips I’ve picked up from others to help you make more money as a freelancer.

Evaluate Your Hourly Rate

Are you charging enough for your time? Yeah, I’m talking to you. We women are hilarious. We are furious about pay inequality in the workplace, but as freelancers we are quite notorious for undervaluing our6 Ways To Make More Money As A Freelancer services. If you want to make more money as a freelancer, I have two words for you…stop it! You’re in charge, get paid for what your talent and experience are worth.

Your freelance hourly rate needs to be within the range of what others are doing in your industry and perhaps your locale, but remember that it is uniquely yours. Do a little research on freelance rates. Also, take your experience and talent into account. Then set your rate and start earning what you deserve.

Make More Money As A Freelancer By Giving Yourself A Raise

Maybe you’re happy with your hourly rate. Great! But are you bumping it up on an annual basis?

Generally speaking, when you are working for someone else and you are doing a good job, if the company is in good financial standing, you’re probably going to get a merit increase on annual basis. Why aren’t you treating yourself the same way? Consider giving yourself at least a cost of living (2%) increase on an annual basis.

Limit Face-To-Face Meetings

This was one of the best pieces of advice I received from a friend who is freelance website developer. If communication on a project can be done on the phone or through email, do it that way.

When you are juggling multiple clients and projects you need to be efficient with your time. Face-to-face meetings are sometimes a necessity, but they can also be a time-suck.

Make More Money As A FreelancerEven if you are being paid to be there (and you should be), meetings can interrupt your momentum and decrease your productivity for the day. Less productivity means fewer billable hours and less folding money for you.

Advertise

20 years ago, advertising for a freelance business would have been a luxury that few could afford. Social media has changed that. With social ads, you can cast a wide net to reach potential clients worldwide or hyper-target your message to a specific locale or industry. And, you can invest less money in the effort than you spent for that fajita bowl you had for lunch.

Diversify Your Services

Not everyone who needs your help can afford to hire you. But maybe there’s something you can offer to that audience that will be a win-win for you and them. If you want to make more money as a freelancer, you should give it some thought.

For a freelance website designer that might mean you offer some templates at a low price point. For a freelance writer or marketing consultant, you might offer an affordable webinar with blogging or social media tips.

One of my clients, a freelance HR consultant, offers an employee handbook as a base level service. Because it is template-based, she is able to quickly and easily customize it for her clients at an affordable rate. They get something they need. She gets paid. Everyone is happy.

Stay In Touch

Many of my clients are “one and done,” meaning they contract me for a single project, and they may never need my services again. But even when there is no plan for a future project, I stay in touch.

Staying in touch keeps you top of mind and makes them more likely to call you when another project comes up or refer you business when they encounter someone who could use your help.

Don’t be a pest, just check in once in a while with a friendly email or a call. Consider it light networking.

Just last month, I reached out to a client that I worked with last year, asking if I would see him at an upcoming industry conference. As it turned out, he was not attending the conference, but he called a week later with a small project for me. Cha-ching!

Related: Change One Thing To Make Business Networking Pay Off

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Change One Thing To Make Business Networking Pay Off

Despite all of the ways we are able to connect with potential customers and vendors online, face-to-face business networking continues to be an important part of growing a small business. Problem is – few of us are born networkers.

I’m an extrovert. I have spent enough years in media, marketing and public relations to get pretty good at striking up conversations with strangers, but I know it doesn’t come easily for everyone.

Having worked at a chamber of commerce for several years, I have seen some awkward attempts at business networking. And I understand why. No one really ever trains you for business networking. You are just expected to show up to an event and know what you’re doing.

The Typical Business Networking ExperienceBusiness Networking

Let me paint the picture of a stereotypical business networking experience.

You walk into a room full of strangers and you do what you think you are supposed to do.  You pass out your business cards, deliver your elevator speech, move on to the next person or group of people and repeat the process.

My friend, you are guilty of drive-by networking.

What do I mean by that? Put yourself in the shoes of the person on the receiving end. Here’s how that might sound to them.

“Hi, I’m Michelle. I have no idea who you are or what you do, but let me tell you how great I am and why you should do business with me.”

I’ve seen it happen over and over again. It’s ineffective and honestly, annoying. Who wants to be on the receiving end of that?

The problem with this method of business networking is that it focuses too much on the quantity of contacts rather than the quality of contacts.  Sure, you may walk out of a networking event with a stack of business cards, but you were likely unsuccessful at making any true personal connections. Also, you possibly guaranteed that some of those folks are going to avoid you the next time you enter the room.

My First Business Networking Fail

Let me tell you about my first time trying to promote my business at a networking event. Boy, it fell flat.

I walked into a meeting of a local public relations group. It was my first event as a new member. I was still working for another company, but was looking forward to networking with this group to try to grow my freelance business.  I marched up to someone and introduced myself.

“I’m Michelle West, I work at company z and I also do freelance writing.”

The person on the receiving end of that looked at me, grimaced, and said, “Yeah, I do too,” and walked away.

I was horrified.  As a result, it took me a long time to get up the courage to just walk up to someone and introduce myself again.

Here’s what’s so strange about that scenario. I had been successfully networking for years while working jobs for other people. But things got weird when I tried to promote myself. It’s like the wheels came off my networking bus. I was nervous and awkward.

Also, I forgot the cardinal rule of business networking. It’s not about selling. It’s about building long-term business relationships. Good business relationships are just that—relationships.  They cannot be forced and they are rarely developed through a rapid-fire, drive-by networking style.

Change Your Business Networking Mindset

So, instead of promoting yourself, consider trying a different approach called Positive Networking®.

The term has been trademarked by Shepa Learning Company. The strategy turns the tables on the “promote your business” method of networking, and it yields better long-term results.Change One Thing To Make Business Networking Pay Off

As an added bonus, it takes the pressure of you to sell yourself and makes business networking a lot more enjoyable. Consequently, the more enjoyable it is, the more you will do it. The more you do it, the more your business will grow.

What is Positive Networking®?

It represents a shift in attitude.  Networking is no longer about you, it’s about the people that you meet.

So, instead of going into a networking situation with the goal of selling your business, you approach your new contacts with the intent of discovering what you may be able to do for them.

Ask questions. Get to know them. And think about how you might be able to help them grow their businesses.

Perhaps you can connect them with a resource or someone within your network that might be a potential customer or vendor for them.

You may be wondering how this is going to benefit me?

It’s simple.  People do business with people, not businesses.  And they are more likely to do business with someone they know and trust. If you approach networking from the standpoint of starting a relationship instead of closing a sale, you’ll begin developing that level of trust.

Also, it makes striking up a conversation at a business networking event so much easier. You no longer have the pressure of figuring out where in the conversation you should start reciting your elevator speech.  You are just getting to know a new friend.

Network Like You Know How

Business networking done right is not about generating sales leads. It’s about building a circle of friends for your business.

Also, the reality is, very few people that you meet at business networking events will ever become your customers. Their true value is in their potential to refer you business. And, they are more likely to do that if they feel they know you and trust you.

It’s a marathon, not a sprint.

So get yourself to a business networking event ASAP. Practice your new skill and start building a circle of friends for your business. Network like you know how. Because now you do!

 

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Why You Should Love What You Do

Forget about the fast lane. If you really want to fly, harness your power to your passion. Honor your calling. Everybody has one. Trust your heart, and success will come to you – Oprah

Guess what. To do something well, you have to like it. In fact, it might even help if you LOVE it. If you are a business owner, service provider, or solo-prenuer, or maybe even just thinking about starting your own business, let me ask, do you love what you do?

It’s crucial that you enjoy, and yes – even LOVE, what you’re doing if you want your business to succeed. Doubt me? Entrepreneur.com reports that if you don’t enjoy what you’re doing, in all likelihood that will be reflected in the success of your business–or subsequent lack of success. In fact, if you don’t enjoy what you’re doing, chances are you won’t succeed.

I’ve been walking this road for a number of years and understand what it takes to build a business that has purpose, that is fulfilling, and yes, that pays the bills. We all want that don’t we? The opportunity to create a livelihood doing something that we love? The opportunity to work for ourselves?

If you are running (or preparing to run) a small business, there’s one thing you need to know straight out of the gate – you HAVE to be completely dedicated to your business, day and night, regardless of the circumstances. You have to be thinking about it, working at it, looking for opportunities, and be responsible for it, nonstop.

That’s why it’s important to make sure that you love what you’re doing, and to feel motivated to push through to the next level. Building – and sustaining – a small business takes a lot of work, and while it can provide a comfortable income, the responsibility of that business, the planning, the hoping, and the dreaming will be on your mind, if not all, then definitely most of the time. So, if your business is ultimately something that you are going to be focused on full time, shouldn’t it be exciting?

There is one question that you can ask yourself that will determine if your business is a good fit – would you do it for free?

Now let me say right now that there is no way any of you should work for free – EVER. The question really boils down to, do you love it so much that you often think, “I can’t believe I’m getting paid for this?” Are you so passionate about what it represents that you have honed your skills, for little or nothing? Have you practiced with purpose?

I love what I do. Period. And each and every client that I help reach their marketing objectives provides one of those, “I can’t believe I get paid to do this” moments. And each and every client I help learn how to market their own business provides the same rush when they “get it” and are on their way.

Mother Teresa said that, “Work without love is slavery.” You want your business to succeed, right? So, this week, before you do one more thing related to your business, take some time to determine if you really, truly, love what you do, and grow from there.

 

Five Ways to Make Working from Home Work

Where do you office? If you’re like a number of Americans (myself included), you are working from home. Home is where the heart is and when it comes to building a business, it can also be a low-cost place to launch. Whether it’s a corner of the kitchen table or a spare bedroom, there’s really no better place to get your ideas on paper, and name out to prospective clients or customers.

According to The State of the Remote Job Marketplace report, there are now 3.9 million Americans or 2.9% of the total US workforce who are working from home at least half the time.This number represents a 115 percent increase from 2005 when this group included only 1.8 million. The report not only looked at the growing pool of freelancers and budding entrepreneurs, but also remote workers for a number of small businesses and large corporations. In fact, researchers suggest that the entire labor force ecosystem is being influenced by remote/freelance workers.

Making Working From Home Work For You

Discipline – The first thing you need to keep in mind when deciding to work at home is that it takes discipline. Trust me. When people find out that I work at home the first thing they ask me is how I get anything done. My answer is always the same, I like living IN a house, so I work every day so I can pay for said house. It’s just like punching the clock for anyone else – you have to have starting times AND ending times, and you have focus in between.

Boundaries – While you may feel disciplined to do the work in front of you, if you make the jump to full-time working from home, your friends and family will treat you like you’re on a permanent vacation. They will call, or even stop by, and have questions, requests, or invitations for a fun filled day. The boundaries have to be set, and you have to define working hours and the expectations you not only have for yourself, but for those around you.

Schedule Wisely – Sure, you can still meet a friend for lunch on occasion, but anything beyond that should be handled just like it would if you were still punching a clock. It’s also a good idea to schedule any non-work-related appointments (i.e. doctor, dentist or vet appointments) for the early morning or late afternoon, to prevent lost time and productivity. Every client or customer appointment should be stacked. Personally, I pick a day each week and do my very best to schedule any and all work and non-work-related appointments on that day.

Support – When you’re working from home it’s important to build a community, just like you used to have at the office, there are thousands of other women, just like you, who are building their dreams from the spare bedroom. Find them, connect with them, and shoot them a text, or a phone call. Whether it’s a quick chat or a monthly meetup for a glass of wine, having a community of like-minded women will help you stay focused and on track.

Take Care of Yourself – Believe it or not, it’s a good idea to get dressed and show up at your home office desk. Getting dressed reminds everyone, especially you, that you are actually working. It’s also important to get up and get moving. Set a timer and step away from your desk and walk around. When you’re working at home, you no longer have a parking lot to navigate, an office to move through, or copiers down the hall. The walk between your coffee pot and your desk is not enough.

While working at home can be a struggle at first, once you get into your rhythm there’s nothing like it. You have freedom, flexibility, autonomy, and you don’t have to ask for anyone’s permission to take a break and walk your dog.

Related: Battling The Home-Based Business Blues

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Battling the Home-Based Business Blues

The home-based business is having its time. No longer seen as a hobby job, the ranks of the work from home crowd are growing. According to the U.S. Census, 52 percent of US businesses are home-based. More than a third of those home-based businesses are owned by women.

They are a thriving sector of the U-S economy with their own sets of benefits and challenges.

It sounds like a dream job to many aspiring business owners, but one unexpected challenge that often faces home-based business owners is a feeling of isolation.  Lenette Hall got a taste of it when she started her online business, Urn Garden.

“I had always worked as a team player in environments that had healthy budgets and lots of support.  Now, I’m a one-woman show. Running my own business is much more rewarding than when I was working for someone else, but I was not prepared for the loneliness and isolation that comes from working at home,” Lenette says.

Feeling like you are cut-off from the rest of the world can breed negativity and depression, and those are not good for your bottom line!

Here are eight ways to combat the home-based business blues:

Give back.

Serve as a volunteer or board member for a non-profit organization.  Not only will you feel good about the time you are contributing, serving as a volunteer or on a board can be a great networking opportunity.

Find time for fitness.

Lenette added a fitness routine to her daily schedule and says it has been a life saver and a stress buster.  “Since I’m shackled to8 ways to beat the home based business blues the computer all day, it’s been mandatory that I move for at least an hour every day,” she says. “It keeps me from getting too cranky.”

Get some face time.

I’m not talking about the iPhone app. I mean real face-to-face communication. Instead of working out details of a project via email or over the phone, schedule a meeting in person once in awhile.  You’ll benefit from the interaction.  Plus, it’s a much more personal approach that leaves your client with an impression that you care about personalized customer service.

Network.

Find networking opportunities that work for you.  Networking groups and events are not one-size fits all.  So try a few on for size and regularly attend the ones that you enjoy and benefit you the most.

Get out.

Work offsite on occasion. If you are able to run your business for a few hours off of your laptop and Wi-Fi, take your show on the road.  Set up your mobile office in a coffee shop or your local library for a refreshing change of scenery.

Reach out.

Reach out at least once a day. Make a phone call, send an email, pay a bill in person.  Do at least one thing every day to interact with another human being.

Go to work.

Take a part-time job.  Lenette has kept a part-time job since opening her business several years ago.  It was in part, a small safety net, in case her business didn’t succeed, but has become a way to keep her connected to the world outside of her home-based business.  Since Urn Garden is exclusively online, she has very little opportunity for personal interaction in the course of her business day.

Go to school.

Take a class.  If it helps improve your knowledge and skills to be better at running your business, then it is a great investment of your money and time.  If it’s just for fun, well, it’s fun!

Related: Five Ways To Make Working From Home Work

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