The pandemic has changed how people work. The hybrid setup is optional, and the work isn’t compartmentalized in the four-walled offices. Remote work offers limitless opportunities for anyone who would like to earn a living from the comfort of their home.
The Philippines is third in the world, after the United States and India, in online freelancing. There are 1.5 million freelancers, and 69% are running their businesses while working on other projects. Income varies according to freelancers’ work, experience, and reputation.
If you want to thrive in this industry, follow these tips below and bookmark this article for future reference.
- Choose your niche
- Learn to promote yourself
- Build a stellar reputation
- Create a sustainable business model
- Invest in upskilling
- Embrace networking with other freelancers
- Save and invest as much as you can
- Don’t forget to enjoy your hard-earned money
1. Choose your niche
Choosing a niche involves specializing in one or more specific areas of expertise. It gives you an edge over competitors broadly experienced in many fields. Focusing on one area allows you to accumulate valuable knowledge and skills while becoming more specialized and experienced.
It also allows you to focus your marketing efforts and lead generation activities, which can help ensure that you get clients who need what you offer. Consider the type of services you want to provide.
For example, suppose you are offering freelance writing services. In that case, you should consider which type of writing you should offer – technical writing, content writing, ghostwriting, copywriting, press release writing, etc.
2. Learn to promote yourself
Getting your name out there and establishing yourself as an expert in your chosen niche is advisable. You can start by setting up an online portfolio or website, and this can be a great place to showcase examples of your work and list your qualifications, experience, skills, and services offered.
Posting regularly on social media is another effective promotion tool that will help you create credibility and attract potential clients. Don’t forget about word-of-mouth referrals – these can be invaluable for freelancers.
Investing in content marketing is also a good strategy — write blog posts about topics related to your field. You can also share helpful advice with others, engage with comments, join industry-related forums and participate actively in conversations.
3. Build a stellar reputation
Online clients rely on reviews and ratings more than ever to gauge whether the service they will be getting is worth their money. For first-time freelancers, building a stellar reputation is achievable by ensuring quality service and delivering projects on time.
Leveraging your existing reputation is key if you have been in the industry for years. Aiming for higher value clients with bigger projects will enable you to increase your rates. This translates into providing better services due to increased resources available.
Additionally, customer loyalty plays an important role here. Maintain good relationships with long-standing customers. They will be more likely to recommend your services if they are happy with what you deliver.
4. Create a sustainable business model
You should view freelancing as something other than an additional source of income or a side gig. Treat it like running any other business. To that end, having an organized workflow and structure is key to managing your workload, meeting deadlines, and keeping clients engaged.
Creating a sustainable business model requires planning and taking the necessary steps to ensure long-term success. A detailed budget outlining expenses and expected profits is essential for staying on track with finances.
Ensuring you have enough funds set aside for taxes (as applicable) can help you avoid surprises come tax season.
Offer projects that will yield long-term financial benefits, such as passive income streams or recurring contracts. This can ensure that you have consistent work coming in without having to look for new opportunities all the time constantly.
5. Invest in upskilling
Upskilling gives you the confidence to navigate your field of work better. Knowing the current and best practices shows you know what you’re doing. You become more reliable compared to freelancers who don’t continuously invest in themselves.
It also helps build credibility, which may increase the number of clientele or chances of landing high-paying gigs.
Upskilling can take various forms like the following:
- Attending seminars
- Taking courses and workshops
- Reading books, academic papers, and industry articles
- Joining webinars
- Listening to podcasts
- Participating in forums related to your industry
By taking these steps, you can be sure that your skills are up-to-date with the latest developments in your field – giving you the knowledge you need to remain competitive in the market.
6. Embrace networking with other freelancers
Building solid relationships with other freelancers can open up opportunities and help to increase your skills, knowledge, and visibility. It can also provide access to contacts that you may have yet to have access to on your own.
Networking with other freelancers lets you get advice and feedback from experienced professionals. It can also provide insight into new trends in the industry, which can help you stay ahead of the competition.
So, how do you get started? The most obvious way is attending professional conferences or events related to their industry, such as seminars or workshops where they can meet up with fellow professionals.
There are also online communities such as Reddit or LinkedIn groups geared towards connecting like-minded individuals looking for advice and resources or just wanting to connect with similar professionals around them.
7. Save and invest as much as you can
As a freelancer in the competitive Philippine market, saving and investing as much as possible is essential for long-term success. With the fluctuation of demand and workloads, having enough money saved and invested can help even out these natural market fluctuations.
Savings are beneficial if a freelancer has unexpected expenses or dips in income due to a lack of projects. Having money set aside in an easily accessible form, such as a checking or savings account, can be used to cover necessary costs like rent, utilities, food, and other bills without requiring additional debt.
Investing money in assets such as stocks can also bring significant returns over time as the stock market continues to rise. In addition, a diversified portfolio of investments can protect against economic downturns and financial losses.
8. Don’t forget to enjoy your hard-earned money
To enjoy your hard-earned money does not necessarily mean extravagant spending. But rather rewarding yourself for the hard work and effort put into your business venture.
Go out with friends or family and take a break from the hustle and bustle of freelancing. Taking time away from work can let you de-stress, clear your head, and ultimately be more productive.
Remember to plan regular nights or activities with friends or family. You may be busy with work, but making sure that you’re setting aside some time for yourself and loved ones will help keep you motivated and focused.
This could mean anything from going for a movie night once a week to take a day trip. It’s important to remember that your social life should be balanced just as much as your professional life as a freelancer.
Working for yourself comes with a unique set of challenges. But also some pretty great rewards. If you’re looking to freelance full-time, congratulations – you’ve taken the first step toward becoming your boss.
But before you get too ahead, you should always keep a few things in mind if you want to build a successful freelancing career. Choose your niche wisely, learn how to self-promote without coming across as sleazy, and make sure you always deliver quality work to your clients.
Remember to save and invest as much money as possible to enjoy the fruits of your labor. Are there any other tips you would add to this list? Let us know in the comments below.