From Side Hustle to a Six Figure Business – how to do it?
In today’s current scenario, many different jobs and positions have altered. Technological advancements and improvements in communication techniques mean that many aspects of the job market are developing utterly new work cultures.
One of the most significant changes in the job market is the new trend of self-independence among individuals. Many individuals feel comfortable taking their skills out of the corporate hierarchical structure and working as freelance agents. This trend is highly popular as it allows you to work in whatever area you may be passionate about.
This is one of the best times to become a freelance or contracted agent. In the current global market, more than 50% of companies hire freelance agents, who end up earning more money and enjoy better working contracts.
But just handing in your resignation letter today will not be enough to become a successful freelance agent. You will need to follow some rules and tips to help you obtain the best from your endeavor.
How to market and sell?
Marketing is not just flashy advertisements or product displays; it is an integral part of the current society. Learning marketing skills is necessary as it will be an asset when trying to offer your services.
Marketing your skills properly will allow you to beat the competition and obtain more clients. Along with this skill, building your brand image is also necessary as this earns you positive feedback among prospective clients.
How to negotiate?
Negotiating is one of the most underrated skills that you need to possess. This skill will help you to ensure that you can earn more money for the work that you are doing. Most freelancers end up agreeing to low paying jobs or free jobs in the hope of exposure and to help build up their clientele. But a rule of successful negotiating is evaluating your time and asking for proper payment.
If your negotiating skills are lacking, it is a better idea to sign up with an agent or individual experienced in this.
How to make the best of your time?
Most freelancers lose out on being able to optimize their earnings. One of the main reasons for this is the liability to understand precisely how to choose projects and clients. Often, freelancers end up selecting a confirmed plan with a lower payout over another project that can pay more but will require negotiation.
Additionally, they also take up free work intending to gain exposure. But what it means is that the freelancer is putting in efforts without any fixed payment, so mostly the time investment shall not be fruitful directly. This leads to a lower income.
Even if you do not have very strong negotiation skills at times, simply asking clients for more money is useful as many clients give lower quotes than the final amount they are prepared o pay.
What is the importance of having multiple streams of income?
To become a successful freelancer, you also need more than one source of income. All the income sources might not be the same, and it varies from person to person based on their skills and interests. But developing 3-4 different avenues is a necessity.
How to go from side hustle to six figures?
If you can incorporate these additional skills in your arsenal, it will help you to grow your freelance career into a business.
Many individuals are opting for freelancing nowadays, making up for great startup stories. This sort of career helps you gain more control over your time and maintain a better work-life balance.
Trying to become a freelancer may be a difficult choice, but it need not be as scary as most people think. Keeping focused and obtaining an appropriate value for your skills is needed to help you reach your goals.