5 Tips for Maximizing your Income as a Freelancer

03.09.2015

Financial struggle is something almost any freelancer will face at a certain point of his or her career. This is not necessarily bad, as you get to learn from your mistakes, improve your business practices and generally become a better professional at what you do. Nevertheless, having financial difficulties is something everybody would like to avoid – but how do you do it?

Getting more clients and marketing your services efficiently are some of the more obvious ways. But everybody knows that, what else? Here are 5 unusual tips to help you maximize your income:

1) Affiliate programs


Affiliate programs are something that freelancers often overlook. They usually have a level of stigma associated with them, but don’t have to be all bad. The most important thing you should pay attention to when getting into an affiliate program is to have it somehow connect with what you do. Are you a web designer for example? Look into affiliate deals with hosting sites which you can later recommend to your client. Did a book really help you in your writing career? Make an honest proposal to your blog/site readers and tell them that you will get a small cut. Instead of being a scam, affiliate programs can often be a winning situation for everybody involved.

2) Get more value out of old clients

Some freelancers unfortunately tend to forget about a client once their work is done and the check is in the mail. This is a grave mistake that could potentially rob you of many future possibilities. First of all, try to get referrals from your client – nothing is better than seeing that others who have used your service were not only happy with it, but actually took their time to write it out as well. Furthermore, old clients may often attract new clients. Keep in touch with the ones you’ve worked for and aim for long-lasting business relationships.

3) Finding a niche

This third tip is obviously true for any business, but a freelancer’s flexibility allows him or her to go about looking for a market niche or “gap” more easily. A niche is where there is high demand but little quality supply. As a freelancer, hitting that sweet spot with your services can be very beneficial. Looking for a niche can also be as simple as just specializing – sure there are a lot of freelancers that can write. But, you could be one of the few in your region who can write about a certain, niche topic, because you recognized the market demand and specialized in that area.

4) Take some small projects regularly

Aiming for huge clients is a natural tendency as your freelancing business starts growing. However, taking small projects can have a lot of advantages. They allow you to diversify your income. If you get bored or just block on a certain big project, working on something different might give you back the motivation you needed to keep going on. Furthermore, they are a great way to find potential new clients. They might want something small at first, but impressing them with what you do and suggesting further work you can do for them can lead to bigger opportunities.

5) Create something that can be sold more than once

Last but not least, generating a constant stream of income is something to consider as well. Write an eBook, reuse website designs or images as far as your copyrights allow you to. If many people visit your site, online ads might be worth looking into. These little financial boosts will naturally grow as your business does and can be quite helpful for your income.

Did you find these tips helpful for diversifying your income or can you add to them? Feel free to share in the comment section below, engaging discussions are much appreciated!

Pic: © Tomislav Forgo - Fotolia.com
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