7 Tips To Survive The Freelance Competition
You need to survive freelance competition. Why? Over time, more people are doing away with other income streams and going the online route.
What does that indicate to you? Freelancing is a great way to earn your money. Over time, the number of service providers (freelancers to be specific) will go up.
The number of jobs ordinarily does not increase as the supply of workers! Competition in the freelance world would only increase with time.
As a smart freelancer, you have to offer the best to your clients…all the time. However, for you to be the smarter one, you must learn the ropes to survive freelance competition.
Relax; I readily share seven tips, just for that.
Here we go.
Cold Pitch The More To Survive Freelance Competition
Here, you go beyond freelance work management platforms. Well, some may be comfortable, but it doesn’t harm to get a client via this route. Simply put, you use targeted communication to find prospective clients.
It’s merely playing your marketing uniquely… to reach out to clients. If done regularly and smartly, cold pitching will offer you a constant if not an ample number of clients at your service.
Perhaps this might trigger the fear of too much client work. You need not worry about that.
Consider subcontracting your extra work to pals or upcoming freelancers within your niche. More so, you may also take the opportunity to stand your ground and ditch low paying and troublesome clients, and retain only the BEST.
Constant Marketing of Freelance Services
Take it from me; never stop to market your services! As a freelancer, yours is to get your reach to every prospect, all round the globe. It’s marketing that enables you to access those prospects. Let them know that you are there, ready to serve them at the best rates, of course.
The marketing does not have to be that tough or expensive task. It’s pretty simple.
How? You may ask.
A simple Facebook post update, issuing your business cards to some friends. If you are really into it, consider a simple blog. The prospective clients from the entire world over get to your landing page. The trick is to convert your readers to your customers.
Saving Incomes For The Hard Times
Never take this for granted. As a freelancer, you must always know that you are the boss, and your paycheck is not constant. It’s equivalent to the number of contracts you’ve completed and received payments with time. The reality is that freelancers start slow but garner great expertise and income potential with time.
Be sure to keep some cash away for the hard times. Life is unpredictable. You may wake up to untold ordeals that render you unable to work. You’d thank me if you had some cash stacked away from immediate reach. That means you only access the resources to sort your stuff like medication and other urgent needs.
Sure, God forbid. You wake up to laptop thefts, or even it decides to malfunction.
Oh! I do not need to remind you of the Backups! Keep updated sticks, hard disks, and online utilities like Google drive. If you keep your backups strategies in place, you sure are good to go, working anywhere.
Be Smart at Increasing Your Rates, Skills, And Minimizing Your Work-Load
Freelancing amazes me in the learning curves that I’ve seen around. Initially, a slow start is okay. Five years down the line, you are a professional in your niche! Keep hunting for more clients, and every time, ensure you negotiate a higher rate.
Target: get to your dreams…work with lesser fantastic clients, working fewer hours with incredible quality and need I say…highest ever rates.
When you attain that rare balance, be sure to hit your revenue targets too.
Know Your Costs and Income Streams
Hey, every business person must not escape this. Why, just at least for your taxes …if for no other reason. There are numerous tools to keep track of your revenue and cost schedules. At a minimum, a spreadsheet is okay…or should I say the Google sheets.
Knowing these variables is a MUST. Check on your internet costs, monthly, and even look back after a year. Ask yourself reasonable questions:
Am I over or under spending, and for what probable or definite reason?
Are you spending more than your pals for the same?
Are you hitting your revenue targets, why or why not?
What more can you do with less?
Grill your mind on this. The ultimate scenario is to minimize your costs and maximize revenue. That way, your business will serve you for more than you can ever imagine.
Understand The Freelance Work Cycles
It’s excellent to understand the cycles of your business. As a freelancer, get to the bottom of this. Know the months your niche is overflowing with prospective work, and when famine reigns. Based on the cycles, align more of your work to be done during the full months.
Smartly, you may explore the prospects and even secure contracts to keep you busy during the low seasons. Smarter, though, if opportunities do not end up in contracts, hey, keep them as future leads. Need I say it loud…do not burn your bridges.
Do not sulk at the low months!
Give yourself the breaks: relax, travel, do something new, or even learn a new in-demand skill.
So mastering the work cycles only makes you ready for the eventualities.
Build Networks To Survive The Freelancing Competition
For a seasoned freelancer, you may have reaped from the benefits of networking. Get your social accounts targeted to your freelance service niche. Get as many connections as you can; let them know what services you offer. Ensure to tweak your profiles to market you as a freelance writer on Google+, Instagram, LinkedIn, Facebook, and all others. Explore them for the benefit of your freelance work.
The networks are also an excellent avenue for your professional growth. Smartly, join the groups and participate. Share your success, challenges, encourage others, or even help them out. After all, we are there for all of us!
Parting Shot on How To Survive Freelance Competition
Freelancing is a wonderful avenue if you are coined for it. I’d say it’s not a get rich quick scheme. Since it’s even more competitive than a real business, you have to be smart: by remaining relevant and maintaining top-notch skill and talent.
You have to learn the newest trends and tricks. Get to explore them and remain relevant all through, that’s how to be a competitive freelancer.