Change how you're paid, change your life.
Globally, India ranks as the 2nd largest freelance workforce after the US with over 15 million people working independently. This tells us the amount of global competition we have today, not to mention the constant increase in the numbers.
Most people feel motivated by freedom and later realize that freelancing is no less than running a business. It's a skill in itself which you should learn.
According to a report published in 2018 by digital payment company PayPal, 23% of the freelancers in India earn up to Rs 60 lakhs annually, 13 % earn 10-15 lakhs per annum, 8% earn 7.5-10 lakhs per annum, while the rest 23% earn an annual income of Rs 5 lakhs.
Why is there a huge gap between the highest and lowest and why do only 23% of freelancers are able to get the most out of freelancing?
To make it easy for you, here is the approach of successful freelancers.
How to become a successful freelancer?
Rehired by clients
"I have felt the exhaustion of constantly chasing new clients. But I soon realized this way I was stuck and dependent. Thanks to the relationships I am building with my clients, I now feel I am free to choose the work I genuinely want to do." -Community Freelancer
Successful freelancers know the value of building long-term relationships with clients.
Get more profit from your existing client base than just one project. Repeat clients save a lot of time and energy in selling your work.
- When Rehired, the client and freelancer already know each other. You already know the communication style, expectations of each other and you can fill the gaps in the client's brief.
- Moreover, there is no doubt about payments.
- A long-term relationship with one client will show new clients that you are trustworthy.
Having substantial associations is the best way to create regular income.
Increasing client retention rates by only 5% increases a freelancer's profits by 25-75%.
Offer a service bundle
"I had no idea making a service package would get me 3 clients in a day. Before learning this I had an average of two clients a month." -Community Freelancer
Now, with the increase in the number of freelancers, clients have a lot of options to choose from. This is the time when service bundles give you an advantage.
- Your client does not have to second guess the value you can provide. It is the foundation of your relationship with the client. What's better than clear expectations from the start?
- A well-described package paints a picture for the clients of how you can help them, which makes paying you a good amount easier for your clients.
Respect the difference in the needs of every client and be flexible with your offer.
It takes such a good amount of research and thought to come up with the perfect package that it is better to make a checklist.
"I thought I was just saving time by doing extra research and helping the client understand what they need but my suggestions won me a permanent client." -Community Freelancer
We all know communication prevents conflict. Since most freelancers never meet their clients, regular communication is an asset for freelancers.
- It shows the client that their project is important to you. Even if you are out of questions or suggestions, simply update the client about your progress.
- It also prevents you from assuming what the client needs. Don't be afraid of differing perspectives as they lead to brainstorming sessions and better products.
Make sure both the parties are in complete accord on every step of the plan.
A Winsome Proposal
In a 2018 Freelancer Survey, with 68% votes, Project acquisition was voted the most commonly-faced challenge in freelancing.
The way you showcase your skills affects your profits a lot.Your offer can oftentimes be your first impression, and we all know how important it is. How many times has a job description attracted you, but you felt stuck while writing your proposal?
- The best proposal is an attention-keeper. It's comprehensive and gives options to the client.
- It is your chance to connect with the client. Your proposal should encourage the client for further discussion.
Even if you are not an expert in copy-writing, every freelancer has to do this task. So, learning how to write a freelance proposal is a profitable investment.
These are the key factors to vanquish the competition and maximize your income from freelancing. To become a successful freelancer making long-term connections with clients and regular communication are a must. Developing a habit of improving your proposals helps you in the long run and service packages provide an advantage in these times of growing competition. Remember, to put in the necessary hard work and you will prosper in no time.
I wonder how many times people give up just before a breakthrough – when they are on the very brink of success.
— Joyce Meyer