How to Make Money from Freelancing. How do you make money from freelancing? That’s the question every freelancer wonders once they decide to pursue this kind of career, and the answer isn’t always as easy as you might think. If you want to make money from freelancing, you need to first make sure that you’re ready and willing to commit to this type of work, and that you know how to become a freelance writer or designer from the very beginning stages. Here are five steps on how to make money from freelancing that will help guide you through your first few months of freelancing success.
Where to find jobs
Websites like Odesk, iFreelance, or Elance can help you find remote freelance jobs. If you’re passionate about an area of technology—whether it’s programming or design—you might want to seek out more specific websites for that industry; for example, if you want to write about mobile development but don’t have any mobile development experience, a site like e27 will be more beneficial than a general one like Odesk.
What skills do you need?
Skills are what other people will pay you for, and even if they don’t pay much, it’s always better than nothing.
Myths about freelancing
Myths exist around freelancing because many don’t understand how it works. They think you have to be really good at what you do and work all day everyday. This couldn’t be further from the truth. I often tell people that if they can get paid to mow lawns, they can get paid as a freelancer. In fact, one of my friends recently quit his full-time job so he could start mowing lawns for fun! Don’t worry about not being good enough or not having enough time, just focus on getting clients and providing value for them.
Skills you can teach yourself
If you want to get paid for your skills but don’t want a formal office job, freelancing might be for you. There are two ways you can make money freelancing: through an online marketplace like Upwork or Fiverr, or by reaching out directly to companies and potential clients. Both have their pros and cons—for example, Upwork is great if you want more consistency in terms of how much work you can take on (and who those jobs come from), but that comes at a cost of not getting as much freedom over what work you choose. Freelance marketplace sites also enable access to high-paying jobs that may be hard to find through direct communication with hiring companies—but they can sometimes feel less personal.
Getting started
For many people, freelancing is a great way to earn some extra cash. Whether you are looking for something part-time on top of your current job or you’re hoping to make freelancing your full-time job, there are a few ways to get started. First and foremost, however, it is vital that you understand whether your freelancing income will be taxable or not.
Finances, taxes, and accounting
Even when you’re freelancing, there are many financial issues you need to take care of. As a self-employed worker, you’ll still have tax obligations and other expenses. On top of that, it can be difficult for a freelancer without an office job or clients with benefits to have steady income, which means managing finances can be more difficult.
Negotiating fees and contracts
One way to make money from freelancing is by negotiating fees and contracts with your clients. If you’re starting out as a freelancer, it’s often a good idea to offer your services at a lower rate than other more experienced professionals in your industry. By starting out low, you have room to negotiate price with your client based on their budget and need for what you’re offering.
Time management
It might seem odd to include a section on time management in a piece about making money online, but all of these gigs can take up your time. You need to make sure you’re managing your time effectively so you’re meeting deadlines and staying on top of everything you need to do. For most people, time management means scheduling everything down to the minute. If that sounds like too much work, try planning out your day, week or month ahead of time instead.
Motivation
Don’t give up when you don’t get work – New business owners are often in for a rude awakening when they realize how competitive freelancing can be. But it’s not impossible; if you work hard, make smart decisions and put yourself out there, you can succeed at freelancing. If your motivation is waning, here are some strategies for keeping your spirits high.
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