How to make your freelancing income more consistent 💰
To develop a consistent income stream, you have to treat your freelancing as a business! Here are key steps to keep in mind.
While there are many ways to build a steady freelancing income stream, today I’d like to share with you the most important thing to remember when building your freelancing business.
And guess what? It’s right there in the name!
Your freelancing is a business. So, you should treat it like one.
The odd thing about career freelancing is the unique position it puts you in as a creator: you are the freelancer, which makes you the entire business! That means you’re responsible when things go wrong, you’re in charge of your schedule, image, and growth, and you’re the business manager. It’s all on you.
Of course, you can outsource some of these tasks. But when you’re just getting started, fronting large costs to have someone else handle these things can be both overwhelming and unaffordable.
Simply put, it’s also a good idea to learn how your business ought to run from the beginning. That way, when you do grow your business and choose to outsource business management or marketing tasks, you’ll know what to look for.
If you’re new to freelancing, or if you’ve never thought of your freelancing through a business lens before, this mindset shift really is a game changer. I got my first ideal clients after adopting this perspective!
Below, you’ll find some key tips on building a more consistent income stream by treating your freelancing as a business.
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Five relevant job/pitch opportunities for freelancers. 💼
A helpful resource link or downloadable file to boost your freelancing career. 🚀
A researched, thoughtful response to a question or topic submitted directly from subscribers like you. 📚
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📌 Key tips for creating a steady income stream
Keep the Pipeline Full: Perhaps you’ve heard about the popular “pipeline” concept from other freelancers. The concept claims that you should always have potential clients flowing in your “pipeline” so that you never run into a period without work. It’s invaluable to keep this in mind, especially when you’re running a one-person business. To keep your pipeline of potential clients full, you have to show up where your ideal clients hang out, tell everyone about what you do, and get your name out there as much as possible.
💡Pro tip: Plan ahead! It can be easy to forget about future clients when you already have a great current client. But once you’ve finished working with your current client, you’ll need a new project to start on to keep your income steady. Part of running a steady freelancing business is performing outreach and planning for the next project before you start it.
Consistency is Key: Speaking of showing up, you can’t just post once in a Facebook group with potential clients and expect people to remember you when they’re ready to hire a freelancer. Wherever you show up, you have to be consistent and add value.
Get Those Referrals: Referrals can make or break your freelancing career. Once you’ve gotten your first few clients, referrals are an instrumental way to grow your business. Ask your happy clients for testimonials and remind them that you’re grateful for any referrals that they can send your way.
💡Pro tip: When you’re first starting out, consider offering discounts or free work in exchange for quality referrals. People in the industry you work for are typically connected with other people in the same industry, so treat your clients well and get those referrals!
Diversify your Income Stream: I’m a firm believer that diversifying your income stream is always a good idea. This practice keeps you from getting bored with your work, develops passive income streams so that you’re always bringing in some cash, and gives you access to more potential clients.
For more details/tips on how to diversify your income stream, check out this post:
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