7 Ways Freelancers Can Start Earning More in 2017. Determining your hourly rate can sometimes feel like a high-stakes guessing game without a definitive answer. Simply plug in a few inputs about your ideal lifestyle and business goals, and the calculator will give you an fitting hourly rate. 3) Jump on upsell opportunities with existing clients. Many freelancers overlook one of the biggest potential sources of new business: their existing clients. For instance, conversations concerning future goals or big project milestones inherently lend themselves to discussing new projects. 4) Explore additional revenue streams. 6) Connect with clients on freelance networking sites. Even though traditional word-of-mouth earns freelancers the most new jobs, getting your name out there has to start somewhere. It gives potential clients another opportunity to find you and seek out your services.
Lured by the promise of greater flexibility and more interesting projects, more and more people are leaving their traditional office jobs behind for freelancing careers.
According to a 2016 study, there are currently 55 million freelancers in the US alone. That’s a pretty significant 35% of the US workforce.
If you’re a freelancer, you know how difficult it can be to grow your client base and increase the amount of revenue you earn. To help you out, we’ve compiled a list of tips to help you expand your reach and start earning more.
7 Ways Freelancers Can Start Earning More
1) Target a highly-specific niche.
One of the biggest reasons freelancers struggle with their new business efforts is because they haven’t clearly defined a specialized niche. According to data released by Upwork, a global freelancing platform, the fastest-growing freelance niches in Q2 of 2016 were all defined by highly-specified skill sets. Here are a few examples of niches that proved lucrative for freelancers in 2016:
- Shopify development
- SEO writing
- Java development
Notice that each of these areas is narrowed down to a particular platform or specific goal. Prospective clients aren’t searching for broad terms like “developer” or “writer” — they know exactly what they need, and they aren’t wasting their time by filtering through 500 “freelance developer” profiles.
Not only does establishing a freelance niche give you an advantage in getting discovered on search platforms, it can also help you build a reputation as an expert resource in key networks. By defining a unique selling point for your services, you can tap into a community of clients with similar goals and challenges, positioning yourself as the perfect resolution to their exact pain points.
2) Don’t guess your hourly rate — calculate it.
Are you absolutely sure you aren’t undercharging for your services? Determining your hourly rate can sometimes feel like a high-stakes guessing game without a definitive answer.
Ask yourself: are you paying all your bills? Do you find yourself stretched thinly between clients? Are you living the lifestyle you want to be living? If the answer to any of these questions is “No,” it’s probably time to reevaluate your hourly rates.
To simplify the process of determining your ideal hourly rate, we created a free tool that does the calculating for you: The Freelance Hourly Rate Calculator. Simply plug in a few inputs about your ideal lifestyle and business goals, and the calculator will give you…