Why Freelancers Struggle to Exceed $10,000 per month in Revenue

It’s 2020, and the Freelancer community is growing by leaps and bounds due to people’s ability to acquire work that can be completed remotely. People are also starting to realize that they can self-educate themselves in a number of areas and provide that knowledge as a service.

There are more freelancer marketplaces than ever before which even further exposes people to the needs and desires of those who are seeking services to be rendered.

But… with the increasing number of opportunities, why does it seem as though there is still a glass ceiling above many freelancers’ heads that stops them from doing it full time?

I captured a few of my observations here:

They do NOT hunt

Most freelancers are completing work that has a particular value to it, however many opportunities are unrecognized. There are millions of business owners who need services but ironically do NOT know what they need. Some do not even know that they are experiencing issues.

Freelancers are able to identify issues based on their observation and provide a means to serve as a resource.

The activity of identifying, diagnosing, and piquing interest is called ‘hunting’.

If you were to think of hunting, that means that you’re actively going out and seeking something. It DOESN’T mean that those opportunities are falling on your lap!

Small business ‘hunters’ are skilled at acknowledging their own value and finding opportunities to exercise them.

They undercharge

Many freelancers do not fundamentally understand what they’re being paid for. For example, if someone is seeking a website, most freelancers put heavy focus on sufficing the wants of the clients only within their web design needs.

The highest paid web designers are not necessarily the best ones. The highest paid web designers are the ones that understand their client’s businesses and are able to translate how a website will serve one’s business objectives. This level of communication yields higher financial returns.

They lack Structure

Structure is one of those things that begets other things such as organization, focus, and clarity. Many freelancers do not focus on creating a solid foundation that will make them capable of reducing the input necessary to produce a greater output.

Structure will also provide the freelancer with the freedom to spend their time on more revenue generating activities.

If one is buried in the details or within formalities for the majority of the day, then that is time being taken from generating new leads, producing content and sharing insights in order to create more revenue opportunities.

They DO NOT SELL!

The primary reason most freelancers do not get to reasonable level of income is because they do not spend enough time selling.

Sales is NOT A BAD THING!!!

A great book that you should read is called To Sell is Human by Dan Pink. He breaks down why people’s perception of sales is flawed and how to break through that mental barrier to gain acumen in an area that will ultimately save your business.

If you’d like more information on how to grow your FREELANCING business, click here and I’ll gladly tell you how we can work together. 

Previous Post
15 Easy Ways to Find New Clients
Next Post
The Best form of Marketing is Referral Marketing

More Posts

Menu