Posts

3 Freelance Business Ideas Worth Trying

StrategyDriven Entrepreneurship Article |Freelance business ideas|3 Freelance Business Ideas Worth TryingFreelancing comes with benefits worth considering. First, you control your workload and schedule, helping you achieve a good work-life balance. You also decide what niche to focus on and clients to offer your services to. You also determine the best ways to address your clients’ needs. Moreover, you don’t require substantial capital to start your business. It’s no wonder that there are approximately 57 million freelancers in the US. So, are you looking to start a freelance business soon? If yes, here are some business ideas worth considering for the best results.

1. Interior design

If you have a penchant for creating aesthetically pleasing spaces, you may want to consider being an interior designer. Being an interior designer has its perks. For instance, you get the opportunity to show off your creative instincts, mesmerizing your clients and earning their loyalty. Since you aren’t subject to superiors, you can create unique arrangements without interference. Moreover, you don’t have to impress your boss to advance your business; all you need is your clients’ approval. You also have the liberty to determine your target market and price range. You can start working from home until you are financially ready to open an office.

It’s important to note that you don’t require a degree if you wish to focus on styling. However, planning applications for property extension may require a degree, so keep this in mind. Since you would be responsible for getting your clients, you will find it helpful to work with social media influencers for the best results. Your social media platforms are great avenues to build your portfolio and attract clients. Working with agencies that offer professional service direct mail marketing is also helpful.


2. Blogging

Blogging is an effective way to make money online. What’s more, it can serve as a passive income stream while you focus on other business ventures. Since writing is a valuable skill, continuous blogging will help you sharpen this skill. Likewise, writing good content can introduce you to different opportunities like public speaking at conferences or becoming a community leader. Therefore, you want to consider blogging if you haven’t already. However, transforming your blog into a money-making machine requires hard work and persistence. But once you get past this, earning good money becomes easier.

Fortunately, you can monetize your blog in several ways. For instance, you can consider affiliate marketing, where you earn a commission on products clients buy through your link. You can also sell sponsored posts, ad spaces, merch, etc.

3. Web design

You can consider being a web designer if you have creative and technical skills. As a freelance web designer, you are required to build website elements like layout, fonts, and graphics. However, you have the freedom to work wherever you wish and choose what projects to work on. You also avoid dealing with delays associated with larger design firms. And clients who need their websites in the shortest possible time may patronize your services.

Learning the necessary web design skills and building your portfolio website is important. Consequently, ensure that your website is well designed, as clients may assess yours before patronizing your services.

Freelance Career Taking Off? Three Strategies You’ll Definitely Need

StrategyDriven Entrepreneurship Article |Freelance|Freelance Career Taking Off? Three Strategies You'll Definitely NeedIf your freelancing business is growing fast, you may be starting to think about hiring more people, and even asking questions about outsourcing. And that’s not a bad idea. A period of growth can be thrilling for a freelancer. That said, it can also pose significant challenges if you find yourself unable to cope with the uptick in demand, as well as the increasing complexity that comes with becoming a larger operation.

But that’s no reason to feel intimidated. These tips will help you anticipate some of the most common pitfalls of rapid growth for freelancers, and put measures in place to avoid them.

Manage Your Cash Flow

When you had just started your business, you may have been able to manage your accounts without too much confusion. But expansion brings more clients and staggered projects on different timelines, both of which contribute to a vastly more complex cashflow system. Cash flow can be a bit like dominoes: letting one piece fall can quickly result in the whole system collapsing. With that in mind, it makes sense to invest in freelancer accounting tools to help you keep your ducks in a row.

Goodbye, Home Office

Launching your freelancing business from home makes sense on so many levels. You have no overheads, you can work whenever you want, and you can control your environment to avoid distractions.

But once your business starts to grow, you may start to feel like your home office is holding you back. Unless you live in a very central location, you may not be able to make it to important meetings with clients at short notice, so you could be missing out on opportunities for expansion. (And if you do commute in to meet with clients, where will you meet them? A Starbucks? How unprofessional does that look!) And how are you supposed to grow your team if you don’t have opportunities to meet like minded people? Working in isolation means you miss out on networking opportunities, which could be costing you more business than your thrifty home office is saving you per month. In other words, working from home has started to cost you money.

Time to get out of the house. That’s not to say you need to lease your own office. A coworking space could provide the central location and networking events you need to boost your business, without the upfront financial commitment or high rent.

StrategyDriven Entrepreneurship Article |Freelance|Freelance Career Taking Off? Three Strategies You'll Definitely NeedBe the Boss of Your Taxes

The bigger your business gets, and the more people are involved, the more complicated your tax situation becomes. There are decisions to be made about how you present yourself legally, like whether you want to incorporate or remain as an individual trader. And there’s nothing more detrimental to a business than falling behind or defaulting on your taxes simply because of a lack of organization and foresight. If your business is starting to grow, it makes sense to sit down with an accountant and get your head around your tax obligations, making sure you tick all the right boxes and stay fully above board.

Whether you’re a copywriter, web designer or social media manager, your freelance business will go through some significant changes once you start to gather momentum. These tips will help you avoid the speed wobbles that this exciting period of growth could bring.