It is possible for pretty much anyone with some skills that are in demand to make modest sums of money by freelancing. But to make the truly ‘big bucks’ freelancing, you will need to do certain things, which we will be looking at shortly. These are also, in other words, the things you need to start doing, if you are already a freelancer, but your freelancing enterprise is not turning out to be a success in terms of earnings. Without any further ado, if you are keen on making more money by freelancing, you need to:
Enter Bids For More Projects
This way, you get more opportunities to work, and hence more opportunities to earn. True, you may be having enough projects to occupy your time, but you have to answer the question as to whether those are the best paying projects. If they aren’t the best paying projects, you should keep on bidding, in order to win the best paying projects. You will only be maximizing your earnings when you get to a point where your time is fully occupied by the best paying projects available.
Acquire More And Better Skills
The nature of the freelancing business leads to a situation where some niches pay much more than others. You need to undertake research, to figure out how much people in other freelancing niches earn, and compare that with what you earn. If it is clear that they earn more, you need to figure out what it would take for you to move to those other niches, and go ahead to make that move (if it is something you can manage).
Devote More Time To The Freelancing Enterprise
If you are only devoting 5 hours to actual freelancing work, you stand a chance to enhance your earnings by stretching yourself to a point where you can devote, say, 8 or 10 hours. In the final analysis, to maximize your earnings, one of the things you will have to do is devoting as much time as possible to the freelancing enterprise.
Find Ways Of Being More Efficient As a Freelancer
Besides devoting as much time as possible to your freelancing enterprise, you also need to ensure that you are doing as much as possible in that time. There are folks who are able to do, in just 5 hours, what others do in 10 hours. To maximize your earnings, you will ultimately need to put in as many hours as you reasonably can, and then see to it that you are earning as much as possible in each hour. This you have to do without compromising on quality.
Manage Relationships With Clients Carefully
This is the way in which you can retain clients, or get repeat clients. If you can get to a point where you can get work continuously without having to bid, the benefit will be huge (because you will be earning money in the time you’d otherwise have spent bidding for projects).
Consider Building a Team
This is a method through which you can increase your earnings exponentially. The idea would be to get projects from your clients, get the members of your team to do them, then deliver the completed works to the clients. You can then pay members of your team fixed salaries. But your team members will have to be good enough to do the work as well as you (if not better), otherwise you’ll lose the clients.
