Many companies and business entities opt for the service of freelancers due to its economic impact. Hiring a freelancer is considered a cost-effective measure for businesses. It keeps operating expenses at a minimum, but still provides quality service. Many freelancers are happy to take the projects and jobs. Some even desperately accept anything to the point that they take the endeavor with uneven compensation.
Newbies are especially susceptible to this phenomenon, not because they lack the expertise, but primarily due to lack of industry experience. This is in opposition to long time freelancers who know how the industry works.
If you feel like being stuck at your day job is not for you, but you’re still hesitating whether or not freelancing is worth it, then you are not alone. To help you in your dilemma, here are some freelancing tips to break even and make some more money in the nomadic lifestyle.
Find Your Forte
Just how doctors get premium pay by having a specialization, a freelancer needs to find his or her own niche. Knowing your forte will allow you to be confident about your work, and target specific projects or clients.
When you are specialized in a certain field, you become an expert, and therefore can charge higher for your expertise. I mean, would you rather go to a general physician for your neck problem when there is an ear, nose, and throat doctor around?
Don’t Just Quit Your 9-5 Job
Many people enter the freelancing industry as a way to make extra money, and it should stay like that for a while. Don’t immediately quit your day job the moment you sealed a project. Although there is a vast number of available assignments in the freelance world, many of them are still projects and that means job security is virtually lacking. Take your time to hone and enhance your skill, as well as increase your rate. If your freelancing gig reaches the same level of compensation as your regular day job then that is the time to revisit your career path.
Learn to Negotiate
Do not be afraid to negotiate the value of your work. Determine your pricing by the quality of your service, capability of your client, and the difficulty of the project. Make sure you have made clear the limit and scope of your job responsibility about the project. Both parties should know what you would do and wouldn’t do. This will set the limit for yourself and the professional service you are going to offer to your client. This will prevent any form of abuse of your work.
In addition, you should know your client. Since you will engage with them regularly, you need to know who you are dealing with. This will set your expectation, and the way you interact with them. Learning to negotiate is also a great way to make an informed decision on if your client will be able to afford your service.
Study Your Schedule
Many people are enticed to join the freelancing industry because of the freedom it offers. It does not confine you to an office space, and does not limit your time. To be an effective freelancer you need to establish a working routine.
Working when you can and when you want is not a professional way to deal with your clients. Your freelancing could not be done in between your free time. It needs to be scheduled. You should institute a routine that works best for you. For example, if you feel alive at night then set your working time to start in the evening.
This will allow you to properly schedule all your daily life activities. If you don’t properly schedule your freelancing project, you might end up being stressed about deadlines. You can’t allow a job to take a toll on your health. Paying hospital bills will cut into the extra money you’re trying to make.
You need to refine your working habit. Freelancing is a legitimate profession that needs to be taken seriously. If you want to earn more in this industry, you need to work fast and learn to juggle different projects and clients. It is all about setting aside the time and prioritizing your responsibilities based on your deadlines.
Make a Compelling Proposal
Similar to how companies gain clients, or how trade agreements get signed, you should propose a deal with your freelance client. Submitting a compelling proposal can catch you your ideal client, and give them a first-hand impression about you. This is why you should consider yourself as a brand.
Your service is the product and your name is the trademark. The better the impression you leave in the industry, the higher your value becomes. Apart from potentially increasing your rate, writing a good proposal sparks a good business relationship with your client, and that is very important.