Freelancing has become one of the most popular ways to earn extra income, with the flexibility to work from anywhere and set your own schedule. Whether you're a skilled writer, designer, developer, or consultant, freelancing provides a great opportunity to build your personal brand while making more money. Best of all, it can scale into a full-time business if you’re able to find a steady stream of clients.
In this guide, we’ll cover how to start making money as a freelancer, where to find clients, and how to price your services effectively.
Additional reading: Side Hustles to Make Money
Disclaimer: The information provided in this article is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.
Freelancing offers a number of benefits that make it an ideal side hustle:
These benefits make freelancing appealing to many people looking to diversify their income or gain more independence in their work.
Starting as a freelancer may seem daunting, but breaking it down into manageable steps can make the process easier.
The first step is determining what service you’ll offer. Some of the most in-demand freelance skills include:
Choose a niche that aligns with your skills, interests, and experience. Specializing in a specific area will help you stand out in a competitive market.
Having a portfolio is crucial for freelancers, as potential clients will want to see examples of your work. If you’re just starting out and don’t have a portfolio yet, consider doing a few projects for free or creating mock projects to showcase your abilities.
Platforms like Behance (for designers) or Clippings.me (for writers) allow you to create free portfolios. You can also create a personal website to showcase your skills and work.
There are several platforms where freelancers can connect with potential clients, and each has its own pros and cons. Here’s where to start:
Freelance marketplaces are great for beginners because they allow you to find work easily. Popular platforms include:
While these platforms take a commission from your earnings, they provide a great way to start building a client base.
Once you’re confident in your abilities, reaching out to potential clients directly can be an effective way to secure high-paying projects. Start by building a list of companies or individuals that could benefit from your services, and send a professional email introducing yourself, your services, and why you can add value to their business.
LinkedIn is an excellent platform for freelancers to network and find new clients. By sharing your work, writing articles, and connecting with professionals in your industry, you can position yourself as an expert in your field.
You can also join Facebook groups or other communities related to your niche where people regularly post freelance job opportunities.
Setting your rates as a freelancer is one of the most challenging aspects of the job, especially when you’re just starting out. However, with the right approach, you can ensure you’re compensated fairly.
Freelancers typically charge in one of two ways: by the hour or by the project.
To set competitive rates, research what other freelancers in your niche and with your level of experience are charging. This will give you a benchmark for pricing. Be mindful that undercharging can devalue your services, while overcharging may put off potential clients, especially if you’re just starting out.
Don’t forget to account for the costs of running your freelance business. This may include software subscriptions, website hosting, and taxes. Aim to price your services so that you cover your expenses while making a reasonable profit.
To build a successful freelancing career, here are a few strategies that will help you grow your client base and maximize your income:
Consistency is key. Deliver work on time and exceed expectations whenever possible. Happy clients are likely to recommend you or offer more projects.
Rather than constantly searching for new clients, focus on building long-term relationships with a few key clients. Offering a great experience and maintaining communication can turn one-off projects into recurring work.
Once you’ve gained the trust of your clients, look for ways to upsell your services. For example, if you’re a freelance writer, you could offer to manage your client’s blog, write social media posts, or create an email newsletter.
Freelancing is a competitive field, so staying on top of the latest trends and continually learning new skills will make you more valuable. Whether it's mastering new software or learning how to market yourself better, continuous improvement will set you apart from the competition.
Freelancing can provide an excellent source of extra income, but it requires constant effort to find new clients, deliver projects, and maintain a steady flow of work. For freelancers looking to diversify their income without taking on additional work, fractional real estate investing with mogul offers a unique opportunity.
Here’s why mogul is an excellent complement to your freelancing income:
With mogul, freelancers can take their hard-earned income and reinvest it into high-quality real estate projects that offer growth potential over time, all while maintaining full focus on their business.
Freelancing is a flexible and potentially lucrative side hustle for anyone looking to make more money on their own terms. By choosing the right niche, marketing yourself effectively, and setting competitive rates, you can build a successful freelance business that brings in consistent income.
If you’re looking to diversify your income streams while focusing on freelancing, consider fractional real estate investing with mogul. With the potential for monthly dividends, property appreciation, and professional management, mogul helps you invest in real estate and grow your wealth without sacrificing time for your freelance work. Start investing with mogul today and begin building a more robust financial future!
Disclaimer: The information provided in this guide is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult with a licensed professional before making any financial or investment decisions.