Freelancing is for everyone + website resources
Welcome to Whatever Matters' - Weekend Startup Weekly, where I bring in strategies, case studies & stories about entrepreneurs, businesses and how to build your own.
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While interviewing a bunch of recent graduates last year I was hearing one reason from every candidate on why they weren’t applying for a core field of job. They said, that due to the recession, there are no jobs in the market for Engineers.
While, for the most part, that might be true it’s nothing to be overly worried about if you plan ahead of time, plan better than others and execute consistently.
The good news is that many experts (including yours truly) believe that recessions can benefit freelancers (or you! if you want to become a freelancer). Businesses may stop hiring - or start firing, I have heard there’s another round of pending layoffs in the market. Also, appraisals this year have been close to a disaster for most employees.
In 2020 a lot of businesses struggled while freelancers flourished. Physical markets might be closed but companies still needed projects to be completed. When a full-time equivalent or even the hiring process becomes a pain point - all businesses head towards getting a freelancer.
While we were building Unschool in the initial days,
Our first web developer was a freelancer
Our first UX designer was a freelancer
Our first Graphic designer was a freelancer
Our first content writer was a freelancer
Our first SEO specialist was a freelancer
This is the story of many entrepreneurs and the winner here in a real sense is the freelancer. Freelancing is like a wave, and while there may be ups and downs, it is seldom a permanent dry spell.
This is how you build a bulletproof freelance hustle (when and if you start one)
You might have any degree, no degree or you might even be in college while you’re reading this. I understand having a full-time job can be tiresome but you still have 2-3 hours in a day or maybe 4-5 hours during the weekend to earn extra (why would you lose out on that?)
The freedom and flexibility of freelancing are tempting, but success doesn't happen overnight so, here’s where you start -
#1 Define Your firepower: Skills, Niche, and Rates
Skills Inventory: List your strongest skills and what you enjoy doing - something you’ve been paid for earlier or can be paid for regularly. This forms the backbone of your service offerings. Once you know this validate these skills with the work you have done in the past. For example, if you have built or worked on a website go back and revisit how useful was it and how much would you have paid for the same work. This will give you an edge over others who randomly state their skills
Find Your Niche: Whether you’re going to go agnostic or whether you’re willing to go deep (I’d suggest this) be aware of how the market is and where you fit in. You can’t choose many sectors and then be confused about why clients aren’t accepting your offers. If you build rapport in one single sector, clients will have confidence in your work and you don’t have to do a lot of foundational tasks daily.
#2 The Business Foundation: Before You Start
Part-time or Full-time? A confusion everyone has when they start planning their freelancing journey. My suggestion is to keep this hustle part-time until it brings double the money from your full-time job. Moreover, once you have a hang of the work you’re doing it’s usually easier to balance between two things. If your full-time work is similar to your freelancing work - it’s a sure win for you. Move to full-time only if you don’t have a choice or are not able to balance in the long run.
Financial runway: Have at least 3-6 months of living expenses saved. This relieves pressure and lets you focus on quality work. This can be hard for you if you’re married or have a child and that’s okay. You don’t always need a runaway to fly if you’re a helicopter but remember that a helicopter can only fly low and short distances. If you have a longer runaway
#3 The Client sourcing: Marketing and Outreach
Optimised Portfolio: Once you have an optimised profile you can start scouting for and reaching out to potential clients to showcase your best work tailored to their needs. A strong portfolio is highly recommended but don’t worry if you are just starting - a good client works on trust. If you deliver great work at an economical cost, they’ll refer you to their friends.
Platforms and Cold Outreach: Do not shy away from reaching out to random businesses and owners over an email or Linkedin. Let me tell you a secret - this is how they started and they weren’t shy (maybe at first) but they aced it through failing and learning. May of us have talents that we seldom inform others about. A conversation with a friend at a dinner party could turn out to be your next win. Don’t hard sell it - just push it enough for the conversation to run on autopilot.
These are just starting pointers for anyone interested in starting their freelancing journey. If you understand this, we can deep dive into this over the coming months. I can help you set up, start and reach clients all from the locations you’re situated in - in fact, I am going to share a list of freelancing websites where you can explore and find your niche.
You can access the list I have curated on notion;
If this was a useful edition, please write back to me. In case you ever get stuck in your journey book a 1:1 coaching call with me visit: www.topmate.io/chalkmeout