Do you have the entrepreneurial spirit? Perhaps you just need to increase your income to make ends meet, or maybe you have a bigger goal of retiring early. You may have heard that solopreneurship is a way to do those things. Everyone should have at least one side hustle simply to make more money. But what are the keys to starting a side hustle successfully?
- Have multiple streams of income. Do not put your eggs in one basket. You can’t guarantee that you will have a job forever, and the same goes with freelancing and even passive income. Mix it up and have more than one to rely on. Think about the skills you already possess and how you can create a service based business and possibly something passive as well. Should you have a blog? Teach online courses? Do some research and see what would be a good fit for you.
- Add value. You have to solve a problem or pain point for a person to truly have a successful side hustle. People don’t like to spend money, but they like to buy things that benefit them at the same time. Be the solution and you will see your income increase. Think about what you know or what you could easily learn and research as much as you can, and then take that research and turn it into a blog, course, or sales funnel.
- Use your already existing contacts to get yourself out there, and continue to grow. Start an email list. Make a website, network on social media. Spread the word. Don’t be afraid to share your new business. Get out there and let people know what you are doing and how you can help them.
- Set goals. Make sure you start hustling before you leave your day job. You should have a solid foundation in place before you make that leap. There will be long hours, but it will be worth it, and you’ll be less likely to fail. Start with a part time hustle. Most people say to have 3 to 6 months of income saved before leaving your day job. You may not need that much but you don’t want to cause problems for yourself either.
- Believe in yourself. It might sound silly, but you need confidence in order to be successful. If you don’t believe you are the solution, your customers won’t either. Continue to learn and share what you know.
You may have a lot of side hustle ideas. Make sure to do your research and find what will work best for you and the skills you already have, with the hope of expanding your skill set in the future. There is a wealth of information online on various gigs you can do and services you can offer. There is no need to reinvent the wheel, but you will want to put your own spin on what you offer. With these side hustle tips, you will be well on your way to be successful and earn extra or maybe even full-time income.
Have you entered the freelance economy and don’t know what to charge? It’s true, you can make more money by freelancing. You don’t want to under or overcharge for your freelance services, however. You could end up doing tons of work for too little money or not get any clients because you are charging to high. Fortunately, there is a way to find out what your freelance hourly rate should be, and price yourself as a freelancer.
- Perform research and come up with an hourly rate. Consider the scope of the project. Know your role and the goals you have to meet. Know whether this is a one off project or ongoing work. Know the budget the client has, as well.
- Estimate Length in hours. You’ll need to break the project down into parts and estimate how long each will take.
- Multiply rate by hours and then add to it. You’ll want to take your base hourly rate of pay and multiply it by how long it will take you, and then add to that figure. The padding you are adding will be for questions, revisions and other unforeseen things.
- Communicate clearly. You don’t want their to be any questions in regards to what you are charging and what your duties are.
- Track hours and adjust accordingly. If you find that you are under or overestimating the length of a project, you can change for future projects or even discuss on your current project.
With these tips there will be no more guessing what to charge. You’ll know your worth and feel confident when setting up a contract for work. You won’t be undervaluing yourself and making less money, and you won’t be scaring clients away. It will be a good fit for your business. Know your worth, and don’t apologize for it.
Freelancers now make up 35% of U.S. workers and collectively earned $1 trillion in the past year, according to the “Freelancing in America: 2016” a survey released October 6, 2016, by the Freelancers Union.
Stephane Kasriel, CEO of Upwork, a top freelance marketplace, has stated that the younger part of the workforce is much more likely to be freelancing. A large chunk, 47 percent, are 18-24. Only 28 percent of freelancers are Baby Boomers, according to the study.
Why is that? Well, there are several reasons.
- You can choose how much and how often you want to work. You can usually work fewer hours and make more money than you would with traditional employment.
- There is now easy access to freelance gigs. There are tons of websites with listings, so you don’t necessarily even have to pitch your services anymore, although you might want to for increasing your rates.
- More money. According to the study, more than half are making more than they were when traditionally employed. There is no income cap with freelancing, you can earn as much as you want, sometimes with less work. You’re also more likely to be doing what you love.
- You can be your own boss. It can be a change to own your own business, but you can have a lot more freedom. While you may be putting in long hours at first, you can eventually charge more and work less. You might even have some passive income. Freelancers generally have more than one source of income.
The number of freelancers is continuing to grow. Freelancing has given so many people freedom to live their life how they want to, as well as financial freedom. You can pay off debt and build a savings and plan for retirement. You can travel the world. The possibilities are endless with freelancing. For most, it is an ideal way to live. It may very well be the way of the future, as more freelancers are starting every day. It may be better to look for great work, than a great job.
Are you looking to increase your freelance rates? Have you heard you can make money by freelancing? You may have some freelance business ideas but you aren’t sure how to increase your income. There are steps you can take to make more money freelancing.
- Set up an office. Instead of treating freelancing as a hobby, treat it as a job. Take breaks, but don’t constantly make trips to the kitchen. Set work hours. Don’t have family and friends coming over unannounced. Take freelancing seriously and you will make more money.
- Put in more time. You’ll want to put in more hours starting out to make money. It takes time to set up profiles and apply to gigs on sites. If you already have clients, then you’ll be spending most of your time meeting deadlines and their individual needs.
- Join more freelancing sites. There are several to choose from. You can also get email updates from sites like Problogger. You should be pitching daily if you can, at least every other day. Don’t get comfortable. You could lose clients at any time, at no fault of your own.
- Carry electronics with you everywhere. Keep a phone or tablet with you so you can respond to inquiries quickly. People won’t want to wait till the end of the day. You have to be ready to answer any communication immediately.
- Meet deadlines. Life happens, but you need to try to meet deadlines so you get good feedback and a good reputation. The individual that hired you is counting on your work. Take it seriously or you won’t last long as a freelancer.
- Use social media. You can gain clients on social media if you post that you are for hire and use appropriate hashtags. Don’t waste time with a personal profile if you can help it. Focus on your business.
- Don’t put your eggs in one basket, and save money when it’s coming in. The freelance marketplace can be feast or famine at times. Be ready for that.
With these steps, you will earn more money freelancing. You’ll put out better work and score clients from word of mouth. You’ll be able to have more time to yourself and family. After all, isn’t that what freelancing is about? You’ll soon be creating an empire with your freelance business.
Are you an entrepreneur or freelancer? You are probably working really hard to make the most of your business. This can mean really long days, stress, and not much time to recharge. You might think if you don’t work constantly your business won’t get ahead. However, if you don’t take care of yourself, you will be functioning poorly and not doing your best work. It is very important to find a work-life balance. So what should you be doing?
- Enjoy time off. You need to have at least one day off a week. And you need to be fitting some rest into your schedule. You can’t just work continually and never stop.
- Take naps. Sleep is not the enemy. It helps you recharge and be at your best. Make sure you have a good mattress for restful sleep.
- And not just about business, for pleasure too. It will keep your brain sharp.
- Take mental health days, when you need them. It happens and is necessary.
- Have a Netflix marathon, which is always enjoyable. Something light and funny always helps relax you and put you in a good mood.
- Listen to music. Even while getting work done, listen to something in the background. You might laugh but new age music is good for this. Think Enya.
- Go for a drive. Sometimes you will get an “aha” moment while driving. This could be good for your business!
- Listen to an awesome podcast. You might learn something new, either for business or personal growth.
- Go to the gym. Make sure you stay in shape. You might spend a lot of time sitting and this can make it easy to gain weight. Try to eat healthy, too.
- Do chores. Not the most fun thing to do, but a dirty house is not conducive to learning, growth, and ultimately business success. If you really can’t do them and can afford it, pay someone to clean for you.
- Find a way to enjoy things you have to do. If you can’t, outsource them. Then you don’t even really have to think about the trivial stuff anymore.
- Spend time with family. Do not neglect this area of your life. Family is important. Get rid of distractions that take away from this.
- Utilize your support network. Communication is key. If you are stressed out, talk about it. Even consider getting a therapist. It doesn’t make you “crazy” (such an awful word), anyone can benefit from therapy.
With these tips, you’ll be taking better care of yourself. This translates to better business and ultimately more money. Work-life balance can be hard, but it’s important to take care of yourself. It is easy when you are passionate about your business it’s easy to work long hours and get sucked into working all the time. But really most of us became entrepreneurs to have more freedom and time. So it is necessary to remember why you got into business in the first place, and take care of yourself.
Most small business owners depend on freelancers. It may be how you keep your business afloat. However, you could hire the best of the best and then they back out at the last minute. It can be a pain to work with freelancers at times. You want to get the best work possible at the best price. There are certain ways entrepreneurs can get their needs met, and hire a great freelancer, or several.
- Hire specialists. Ask them if what you are hiring them for is their specialty. A general talent is not the way to go. Don’t hire a writer for social media work, etc. When a freelancer niches down, they are generally doing something they enjoy and are really good at. Go for them.
- Hire passionate people. Ask the person if they have a passion for what they are doing. Hire those that have a great attitude and are ready to work. You don’t want someone flaky who is going to quit on you at the last minute. You want someone who will meet deadlines and deliver results.
- Pay more. Ask how much would make them happy. You get what you pay for in the freelance marketplace. If you are hiring for a really low rate, you may not get the best work available.
- If you can’t pay more, consider offering products or services as part of the deal. Some freelancers will really love this and happily oblige.
With these steps, you’ll know how to hire a freelancer. You’ll find quality freelancers to complete projects you either don’t know how to do or don’t have time to do. Then you can spend your time on things you only can do yourself. There are freelancers all over the world hoping to work with you. This is the best way to keep your business running smoothly.
Have you heard anything about freelancing? Some people are excited to start a freelance business as soon as they learn what is possible. You could be making money doing what you love instead of working that 9 to 5 and dealing with a crappy boss. You might be scared to take that leap though or not have a whole bunch of money to get started. That’s okay because there are businesses you can start right now for free. You’ll have more freedom doing the following in the gig economy.
- Social Media: With social media marketing, you can teach companies how to use social media to get clients as well as retain their current customers.
- Blogging: There is so much you can do with blogging. All you need to decide is which platform to use and what your topic will be. You’ll want to niche down so your message is targeted at your ideal customer.
- SEO: Search Engine Optimization is the key to getting content discovered on the web. You can master this for your own sites and also use those skills to help companies with their sites.
- Teaching: There are online teaching jobs that you can do remotely if you have a degree.
- Copywriting: If you have a way with words, you may want to consider copywriting. Businesses pay a lot of money to someone who can craft words in a way that sells their product or service.
- Ghost Writing: There’s a lot of people out there who have something to say but don’t have the time or skills to write it themselves, that’s where you come in.
- Magazine Article Writing: There are lists all over the internet of magazines that accept submissions.
- Grant Writing: Maybe you’d like to help a nonprofit. Consider grant writing.
- College Admission Essay Writing: There is students with big dreams of ivy league that are willing to pay someone to write their essays.
- Editing: There is constantly new content being created every day, and it needs to be edited. This can be big business with big profits for you.
- Online Research: Are you great with Google? You might find solo employment as a researcher.
- Translation: There are many companies and gigs that need someone who is bilingual. Put that skill to use.
- Graphic Design: If you are artistic and tech savvy then graphic design might be for you. Help create logos and design brands.
- Photography: There are many ways of selling photos online. If you have artistic skills with photography, even with just an iPhone, you can make money.
- Wedding Photography: People pay top dollar for wedding photos.
- Photo Editing: All those photos being taken need editing. Not everyone is good at that. If you are, it could be quite lucrative.
- Virtual Assistant: There are a lot of successful VAs behind thriving online businesses. You could be who an entrepreneur relies on.
You might also be able to find jobs on the best freelancing websites out there. If you do a bit of research you find that there are many to choose from, but some will be better for workers wanting to start freelancing. Freelance writing is a common path. You’ll have to consider the skills you already have as well as ones you are willing to invest in and learn. You may not necessarily have to have secondary education, but you may want to do an online course.
You may be wondering how you can make more money with your small business. One great way to do this is to have a Millennial marketing strategy. Why? Millennials are a huge market with a lot of buying power. Millennials are anyone born between 1977 and 2000. They account for 25% of the US population. They also happen to spend 600 billion annually. You need to get a piece of that for your business! There are several ways you can make your business “Millennial-Friendly”. Here are some tips for you to take into consideration:
- Make your website work on mobile devices. You also need to be present on apps and mobile sites that they are utilizing, like Google maps.
- Every business should have a presence on Facebook, even if you are a solopreneur.
- Have live chat on your website. Millennials prefer to chat than pick up the phone and call a business.
- Use social media in real time. People should be able to reach out to you on Twitter and get a response from someone at your company, whether it is you or someone who works for you.
- Improve the speed of support. You should have fixed the problem within 24 hours. People are not willing to wait very long for things to be resolved.
- Have positive reviews online. Genuine ones. You may get some negative reviews no matter what, but strive toward resolutions and your customers, including Millennials, will recognize that.
- Use discounts and coupons. Millennials are savvy when it comes to saving money. They are a great marketing tactic and bring people to your business. People often spend more when they think they are getting a good deal.
- Have a mission and contribute to society. Do something to make the world a better place Millennials will take notice. Plus you will get to feel good about what you are doing, and who doesn’t like that?
- Treat your employees well. This goes without saying really, but word of mouth goes far. Employees that are treated well produce better work, anyway.
- Use email. It is the preferred way Millennials like to communicate. Some people might think email is outdated, but recent studies have shown that it is not.
Hopefully, your business is already doing a few of these things, but if you aren’t, now you have actionable steps to take to market for Millennials. Most of these steps require a great website as a base, and then you build on that from there. Thankfully most small businesses already have a presence online. As an entrepreneur, you want to make sure you are on top of trends and working with Millennials is a great way to do that. You may have some work ahead of you to make your business “Millennial-Friendly” but with these tips, you’ll be well on your way.
You might also want to initiate your small business with these high-paying skills and attract more millennials for a greater earning.