Do you want to earn more money this year, but you’re not sure how?
Making more money is one of the main reasons people freelance. But it’s not always easy to know what changes to make in order to see an increase in your income. Freelancing is a great way to make some extra cash and there are simple changes that can double your freelancing income this year.
We’ve got you covered!
In this article, we will share 8 simple changes that you can make to double your freelancing income this year. Implementing just a few of these changes could mean the difference between a stagnant income and doubling your earnings.
1. Create a freelancer’s manifesto
If you’re serious about making freelancing a career, then it’s time to get serious about your business. And what better way to do that than by creating a manifesto? A Freelancer Manifesto is an important document that helps outline who you are and what makes up your mindset as a freelancer (and person). By creating one, you’ll have a clear understanding of your business goals, what’s important to you, and the values that guide your work.
Not sure how to go about creating a freelancer manifesto? This article from 99U walks you through the process step-by-step.
Creating a Freelancer Manifesto is an important part of starting your business – it helps you get clear on who you are, what’s most important to you (and why), and sets the tone for how things will run in your freelance career. If that sounds like something up your alley then be sure to check out the article linked above!
2. Double your rates.
You’ve been freelancing for a while and you’ve carved a niche for yourself. Clients know the type of quality they can expect from you. Why not increase your rate and get paid what you really deserve? Doubling your rate isn’t such a bad idea after all. You could use the money to invest in a brand new piece of technology that will streamline your business, or take some time off and visit family (you never know when they’ll be gone forever).
If you want an easy way to double your freelancing income this year, then I suggest starting with increasing your rates.
Remember, you are worth it!
Learn how to price your services.
If you want to freelance for a living, there’s one thing you’ll need to do: know how to price your services. When clients know what they’re getting and they understand the value of your work, they’re more likely to be willing to pay a higher rate. So, if you want to double your income, then you need to start out by increasing your rates.
This is not always easy and it can be scary. But remember that clients should understand the value of what they’re getting – if they don’t want to pay you more money for what you do, maybe it’s time to rethink who was really in control all along – you!
When it comes to freelancing, there’s no such thing as a one size fits all approach. You need to find what works best for you and your business. And that means increasing your rates from time to time.
Make sure you’re always being paid what you deserve by negotiating with clients on rates
3. Take care of yourself – don’t overwork or burn out!
Working from home has its perks, but it can also be easy to overwork yourself. When you’re not in an office environment with people around you, it’s all too easy to slip into work mode and spend hours upon hours glued to your computer screen. This is a surefire way to burn out – and when that happens, your income will take a serious hit.
It’s important to take care of yourself and make sure you’re not overworking. This means taking regular breaks, getting up and moving around, and making time for things that are important to you (like spending time with family or friends).
When it comes to freelancing, it’s easy to get wrapped up in work and lose sight of the big picture. But if you don’t take care of yourself, you’ll quickly find yourself burnt out and unable to continue working.
It’s also important to set some limits on how much work you do. This might mean working a certain number of hours each day or taking time off on the weekends. When you’re freelancing, it can be easy to let work take over your life – but don’t let that happen!
Make sure you’re taking care of yourself so you don’t burn out and lose income.
4. Diversify your skillset
If you’re a one-trick pony freelancer, it’s time to start branching out. While niching out is great and all that, if your entire income comes from just one source – then you need to think about how things will be when something happens with your health or life (or the market changes!).
Invest in an online course or seminar to expand your skillset
One trick to help you diversify your skills is to invest in an online course or seminar. This will help you learn new things and give you the skillset to offer a wider range of services to clients. It can also be a great way to network with other professionals in your field!
When it comes to freelancing, it’s important to always be learning and expanding your skillset. This will help you not only diversify your income but also make sure that you’re always in demand. Not sure which skill to pursue? Upwork recently released a list of the most in-demand skills that you may want to check out and consider.
5. Saying no to projects you don’t want
When it comes to freelancing, one of the most important things is learning how to say no. This means declining projects that aren’t a good fit for you. It means turning down clients who aren’t paying well (or working with your schedule). And it also means saying no to projects that simply don’t excite you or bring value to your life!
When I was first starting out as a freelancer, some of my friends told me they couldn’t understand how someone could turn down work. But I did – and it was one of the best decisions that I ever made for my business!
Saying no to projects can be difficult, especially when you’re just starting out. You want to accept every project so you can get your name out there in the freelancing world or bring in some income quickly. This is a bad idea for a number of reasons.
Reasons to say no as a freelancer
When you accept projects that aren’t right for you or don’t bring any value to your life, it’s easy to burn out. This can lead to less income and more stress down the road – so be smart when deciding which projects to take on!
There are times in every freelancer’s career when they’ll have to say no to a project. It’s not easy, but it’s necessary for your long-term success.
When freelancing, it’s important to remember that you’re in control. You get to choose which projects to work on and which ones to turn down! So don’t be afraid to say no if a project doesn’t feel right.
6. Charge fees for any extra work
One way to make more money as a freelancer is to start charging fees for any extra work that you do. This means creating an estimate for the project and then adding on additional hours (or days) for any extra work that needs to be done.
For example, if you’re asked to create a logo and also provide source files for it, then you can charge extra for this. The same is true if your client wants revisions on the work that was done – or any other additional requests.
By charging fees for any extra work and time spent with a project, you’ll be able to make more money off of each project from day one. It’s also something that most clients aren’t aware of – so you can charge a bit more for it if they don’t have any idea that extra time is coming.
Freelancers are often afraid to charge clients for additional work because the client may leave or not pay as much. But this rarely happens. Most clients will be perfectly fine paying fees for any extra work, especially if they understand what is being done. A client who wants you to edit and proofread their piece of content should be able to pay for the extra work.
As a freelancer, it’s important to get into the mindset of charging fees for any additional work that needs to be done on projects. If you do this from day one, then you’ll always have money coming in and won’t need to push yourself out of your comfort zone later down the road.
7. Learn to outsource tasks you don’t want to do
When starting as a freelancer, it’s important to remember that you don’t have to do everything yourself. Many different tasks can be outsourced, and it’s something that will help you make more money in the long run.
If there are certain tasks that you hate doing or aren’t good at, then it’s time to outsource them. This is one of the best ways for freelancers to make more money – and also work less.
For example, if you hate writing proposals or don’t have the time to do it, then outsource this task. There are plenty of people who can help with this (and aren’t expensive). The same is true for any other task that you may not want to do – such as bookkeeping, design work, or social media marketing.
As a writer, you can hire someone to write the first draft of your articles for you. This will help you get more content out there while also freeing up your time to do other things.
There are many different ways to outsource tasks, and it’s something that every freelancer should consider. Not only does it make life easier, but it can also bring in more money!
8. Convert your service into passive income products
One final way to make more money as a freelancer is to convert your service into passive income products. This means creating products or courses that teach people how to do what you do.
For example, if you’re a web developer, then create a course on how to become a web developer. If you’re a writer, then write an e-book on how to write better articles.
As a freelancer, you can teach others what you know – and make money off of it. It makes sense because if someone else is willing to pay for your services now, then there’s no reason why they wouldn’t be willing to pay for something that helps them do what you do.
Creating passive income products such as an ebook or online course is a great way to make more money as a freelancer, and it’s something that can be done at any time. All you need is some knowledge or experience in the topic that you’re teaching, and then you can get started.
Earn More Money!
Now that you know how to double your freelancing income this year, it’s time to get to work. Follow these tips and you’ll be well on your way to a more successful freelance career.