How to Start a Freelancing Business in 2020

“More than 80% of freelancers earn the same amount, or more, of what they would in their regular jobs.” Think about it - with minimal hours of work, you could get the same or more amount of salary if you have self-discipline. So, are you interested in the freelance business? Of course you are. But before you decide on joining the community, here are 9 essential tips to help you get started.

1. Define your freelance goals clearly

Ask yourself first why you would want to start a freelance business. Is it due to the drive to be your own boss? Or is it a necessary step to take in achieving a bigger life dream?

2.  Find and choose a profitable niche

When you’ve clearly defined your goals, the next step is planning which path to take. If your goal is to become a famous designer, freelance artistry is the best road to travel. Now study which form of freelance art has a profitable market and high demand.

3. Get clear on your terms of service

One of the most important strategies to make in starting a freelance business is to be clear about what you do and what you don’t do. The more specific your services are, the better. This will help you control your pool of target market/clients while starting and help you build your business portfolio in your freelance journey.

4. Identify your target clients

With your talents and services, what problems do they solve? Think to yourself which kind of person is most likely to need your services. Study the demographic of trends for your niche. For example, if your goal is to be a freelance fitness coach and you specialize in dietetics, are men likely to seek your advice? Or are women in more need of it?

5. Create a high-quality portfolio website

A solid online presence is a major backbone to propel your freelance career forward. The better you make your portfolio, the more chances you attract high-paying clients. You can start by making a LinkedIn profile but it’s much better to do some web-hosting if you can afford it. Here’s how to start a blog and portfolio building techniques to attract high paying clients.

6. Carefully choose your first clients

In starting a freelance business, your first clients don’t necessarily have to be high-paying. What’s important is they have solid credibility with connections to future clients you want to work with. These future clients will look for references on how to perceive you from the first ones you worked with before. Don’t overthink when choosing your first clients. Instead, spend a minute or two in determining if they can help you get to where you want to go.

7. Expand and improve your freelance skills

High-paying work equals high-level mastery of talent and the same goes for your talent diversity. While you’re in the luxury of working for a client, do some other new projects. Create fresh concepts and work on these projects. Once your pool of skills is expanding and being mastered, you can attract more high-paying clients that require your expertise in fields they are in need of.

Read more: 7 Essential Lessons You Can Learn From Working Remotely

8. Build credibility

Testimony from your clients isn’t enough for credibility. You can expand your accomplishments by writing ebooks, blogs, creating online courses, and joining speaking engagements that are in line with your niche. Note that these strategies won’t only help build your portfolio and credibility, but they will also increase your visibility and influence in the niche you’ve chosen.

9. Set your pricing fairly

If you do decide on quitting your day job, make sure that your performance matches your demand. When you demand a higher payment for mediocre and inconsistent performance, that could spell a game over for a freelancer-client relationship. Leave no money on the table. But keep in mind when negotiating for a minimum fee, set your price at range with your financial needs. 

The best way to be financially secure is to have both a day job and a freelancing business while you start. As your freelancing career flourishes and the promises of self-sustenance show, only then you can resign from your 9-5 grind.