The world of freelancing has erupted with many people choosing to work for themselves rather than being a part of the corporate rat race. The world of content marketing ,social media, and SEO are all extremely profitable for those that are experts in the field. Not all freelancers do as much as they can to maximize their profits as they love the aspect of being able to relax for much of their work day. Then there are those freelancers who want to maximize their profits as the freedom they have freelancing is nice but they want to make more than they would in the corporate world. The following are tips to maximize your profits.
Caffeinate Yourself Then Track Production
Coffee and energy drinks can be extremely important when it comes to production. There have been studies done that have shown that the right amount of caffeine can really boost production for the day. Studies have also shown that those that drink too much caffeine can have the opposite impacts on production. For this reason you should track production using different levels of caffeine each day. If it can improve your production even 10 percent it means you will be making 10 percent more money for that day or week.
Broker Out Work
Great freelancers tend to build a team of support around them so they can scale some of their larger orders. For example, a client needing 100 articles done in 2 weeks can spell death for a freelancer’s life outside of work. Having a few writers that you can assign this work out to at a 50 percent margin can be a huge resource for scaling larger orders. You cannot sacrifice quality of work with these writers though as many clients will notice this immediately. Building a team of writers willing to work for you on a contract basis can allow you to approach larger companies with a bandwidth they would need to complete a project.
Payment Forms and Terms
When working directly with a brand you can start receiving payment in a variety of ways. There will be those companies that send you products or even travel tickets as perks of working for them besides payment. Cryptocurrencies can be used with certain freelancers but this can be a bit volatile at times. This risk is definitely worth the reward as there are sites like Mintdice.com that will allow you to spend your Bitcoins or even make more money. As for payment terms half up front for a freelancer is common especially if they have to pay their team or to promote they have done for clients. Use a freelancer platform to start out so you can find client who more than like will work outside of the platform after a while if you are a trusted freelancer.
As you can see the above tips will help you maximize your profits as a freelancer. If you are not willing to broker out work you can only make as much money as your personal productivity allows. Managing freelancers can be difficult but increasing money made monthly is work it.