Becoming a freelance consultant and getting work is very easy these days. All you need is some knowledge and fantastic writing skills. You don’t need to have an MBA degree in marketing. If you are a knowledge seeker and an excellent communicator, you should go for this profession.
In the internet networking world, getting freelance work is not that difficult. It would help if you had some launching pad.
India is becoming the biggest freelance consultancy business market globally, where on average, one in four freelance consultants is from India. A survey by PayPal reports that India contributes 50% of freelancers globally in the software domain. The survey also revealed that 41% of Indian freelancers witnessed growth in the past year, and nearly 23% of them had an annual average income of 60 lakhs.
Initially, freelancing was seen as a second-best option for those unable to secure full-time jobs. It was often thought to be lonely, low-paying, and unprofitable. The digital era changed this perception. Employers value freelance consultants with ambition, experience, and qualifications beyond the 9-to-6 model.
However, freelancing isn’t simple. It offers freedom but requires personal responsibility. It’s hard work, unlike a 9-6 job. Freelancers manage clients, finances, and growth, akin to entrepreneurship.
Here are five tips on how you can become a highly paid freelancer. Getting low-paid work is very simple; however, you need to follow a few steps to have a highly paid job.
1. Know your Niche
You should know your expertise. What are your good skills? You can be a copywriter, creative writer, digital marketer.
You might be a pro at designing, fashion, food etc. To become a successful freelancer knowing a specific niche is highly essential. Start building extensive knowledge on your place.
Getting equipped with marketing doesn’t mean you will be a successful marketing freelancer. But you can broaden your horizons with e-courses and webinars that doesn’t mean you need an MBA degree. You need to know your specialty or the X-factor.
While selecting your niche, you need to work on two things- what you love doing and are you capable enough to generate revenue out of it. Once your place is identified, researching the market and understanding the market dynamics are also essential. Then finding a way to differentiate yourself from other freelancers is the primary key.
2. Set up your platform
Start your website; trust me, this is your launching pad. A freelance writer without his website cannot set a platform for himself. Your site will reflect your skill sets. Starting your website is very easy. You can even check out online tutorials. Your website should include information about your services, credentials and testimonials for your marketing.
Set up your profile in freelance marketplaces. It will be easier for your clients to discover you at freelance marketplaces. Freelance marketplaces can even get a bad reputation as you might get very low-paid work as you are not Neil Patel yet. So clients may not rely on your website to get leads. Jeff Tennery, CEO of moonlight, a mobile app to connect people looking to work and earn money, believes that freelancers need more marketplace to discover to create more leverage and increase work. He also says that the more places freelancers are found, the more clients they can secure.
Creating a focused offering releases the pressure and lets you concentrate on a group of various services.
3. Choose your rates
Now that your launchpad is ready, you will need to choose your rates. I would suggest you not publish this on your site as this does not allow you to negotiate. You can adjust the prices for a few clients you think are good clients and can be your long-term clients.
How much should you charge? It is one of the articulate factors that will decide how you become a highly paid freelancer. Set your rates too low; you will end up wasting time on low-paid content. Kennedy information conducted a small survey and found that small partner management or IT consulting firms, on average, can charge $294 per hour. An entry-level consultant can cost up to $175 per hour.
When you work on your own, you have the flexibility to monitor the expenses and keep them as reasonable as possible. Instead of working from a classy office, working out of a creative and motivating working space is highly commendable.
4. Start Networking
For starters, do the networking in your professional and personal circle. People you already know might send you clients. Send e-mails to your friends, family and former clients, ask them for references. Start networking online join online communities related to your profession or business. Have your professional social media accounts on Facebook, LinkedIn and Twitter. Make your contacts with other professionals; they might send referrals to you.
It ensures that meeting the clients for dinner or a coffee once in a while makes the bond grow. You meet people and confirm that you are honest and worthy of investment. Becoming a freelance consultant is a lifestyle choice. It empowers a man to be a more rounded and
experienced individual. By efficiently managing the work opting for doing things you love, you can make the most of this profession. Not getting caught in the rat race of making money is a golden key.
5. Learn to say “No”
It is an essential aspect of attaining a high-paid Freelance Consultant. You might have a fear of having no work, and you agree to work at any rate. It should not be the case as you might decide to work at a low price. Keep a competitive rate as this will help you find prospective clients. Filling your hours at a low cost won’t get you any goodwill or profits and scale up your business. Like saying ‘no’ is a life lesson that works equally well for your business.
Your prospective clients may ask for discounts, but you need to maintain a straight line and politely say no. Explain to them your published rates and make sure you are paid for any additional consultancy. Your time is the money; it’s not for free.
As a conventional employee, one is bound to receive a paycheck at the end of every month. However, as a freelancer, the income is constantly fluctuating. A freelancer can make a bundle of income one month, but his revenue might decline another month. Freelancing, as we know, is uncertain, and so to keep a freelancer away from any financial risk, he must diversify. Creating multiple sources of income helps in having a reliable flow of revenue, even in slow months. Having a diversified source of income helps in saving from any financial disruptions.
When you start your career as a freelancer, you will learn many things, and those lessons will help you make better decisions over time.
As the famous quote says, “Good decisions come from experience, and experience comes from bad decisions” you will firmly believe so once you start learning from your experiences. Our CEO, Himanshu Patel shares some of the lessons he has learned from his freelance consulting career which
will help you avoid making the same mistakes he has made.
Life is beyond bank balances, and freelancing frees up the time and lets one develop new skills, meet new people and do things you always wanted. By staying focused and targeted, freelancing is undoubtedly a game-changer.
Follow these variant five steps and get your consultancy potential clients. These steps will surely make you a highly paid consultant.
Apply your skillful, analytical, innovative mind and increase your business horizons. You can be a pro with these freelancing tips.