If you are looking to grow your freelance business, increase cash flow, or expand, first, it’s important to have a realistic plan for achieving it and then set meaningful and measurable goals.
You’ll also want to ensure you have the time, energy and resources to implement your growth strategies.
With this in mind, here are 6 simple strategies for you to consider to help grow your freelance business:
1. Offer more services/products
One way to grow your freelance business is to add more relevant services and products.
By adding different but complementary services, you can position yourself as a one-stop shop in your industry or niche. Better positioning usually leads to better-paying clients who view your services as adding value to their business.
You can consider extra services such as paid consulting calls, service packages with project pricing, and information products such as templates, online courses, and guides.
There is no limit—the key is to think about the types of products and services that would benefit your clients. As you become more experienced, you’ll know what services your clients would benefit from or need.
Highlighting the value of your services to your clients (new and potential) is key.
You can always add or remove services from your offer if you find ones that are more suitable to you and beneficial to your clients.
This is also a good opportunity to see if you need to invest in some more skills.
2. Consider a niche
One potential way of earning more money is by niching and becoming the go-to person in your field.
A freelancer niche is typically a specific industry, area, or skill set (or sometimes a combination of all three) that a freelancer focuses on as an area of expertise to attract clients.
Sometimes, they niche further down to provide a truly unique and specialized service.
If you are the only person offering your specific service and demand is high, it could be very profitable.
You can read more about some of the pros and cons of niching here.
You can still have more offers, even if you are niching, but your offers would be relevant to that specific niche.
Your ‘one thing’ could be a big thing that sets you up as an industry leader!
3. Outsource and automate
It makes sense to outsource or at least automate anything you do that takes up your time, is tedious, or you are not an expert at.
Automating otherwise tedious and time-consuming work processes isn’t just about saving time; it can also be a real driver of growth. It gives you time to focus on doing what you love, increasing efficiency.
Imagine all the time you could save (and leverage for growth) by automating all your business workflows.
When it comes to invoicing your clients so you can get paid as effortlessly as possible, good invoice software is essential.
Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors.
What’s more, Invoice Ninja lets you connect to thousands of apps via our platform integrators, such as Zapier, Make, Pabbly and more – further speeding up your workflows.
Take a look at some of them here.
And try Invoice Ninja for free at the link here.
4. Increase your prices
One obvious way of increasing your cash flow is by increasing your prices.
You should review your prices regularly to ensure they reflect the value you provide, cover your overheads, take into account inflation and the cost of living – and make you a profit.
Some freelancers increase their prices for each new client, every year, or as their skill sets and experience grow.
Either way, even a small percentage increase each year for current clients can culminate over time.
5. Actively participate in networking events
Participating in networking events is a great way to get your name out there. It’s not just about networking with potential clients but also with others in your industry or profession who can refer you (and you can do the same).
Building long-lasting business relationships with people in your industry can help boost your business so you remain profitable.
Some business networking events and conferences have opportunities for members and participants to give talks and showcase their business, which is another good way to market your business and grow, both personally and professionally.
6. Team up with others
Teaming up with other freelancers in your field and those whose skills complement yours can be lucrative and work out well for all your clients.
For example, if you are a website developer, how about teaming up with a designer and a copywriter? How this will work in your business depends on what you offer clients and their needs.
If you find this way of working works for you, you may consider creating an agency, which can be another great way to expand your business, get more clients, and increase profits.
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As your freelance business grows, you’ll need to consider the best use of your time and what activity or strategy will likely pay off. Some marketing activities can be a slow burn, and while you might not see immediate results, the long-term results can be rewarding.
We hope this post gave you some food for thought. If you know someone who might benefit from it, please share it with them. Thank you.
