When you first get into freelancing you might be thinking all you have to worry about is completing projects to your clients’ satisfaction.
But you quickly figure out there’s a lot more that goes into it if you really want to make a living…
Like finding new clients consistently, developing different products and services, hiring subcontractors, building a professional network, etc.
The reality is, when you become a freelancer, you become owner & CEO of a business too.
So how do all the components come together for the perfect freelancer business?
The problem:
With the freedom that comes from setting your own schedule, there’s also the daunting task of making time for everything a freelancer is supposed to do.
From client projects and securing business to networking and administrative tasks, all without a traditional structure and support system.
The benefit of solving it:
You’re dividing your time effectively amongst important business tasks that not only meet client deadlines and deliverables, but also grow your business and build on your services.
Why what you’ve tried has failed:
Without the constraints of a 9-5 job and a boss to tell you what to do, it's easy to fall into the trap of poor time allocation, overcommitting to projects, and failing to secure a consistent income…
Here’s how to solve it:
Start by dividing your work day in half.
Spend half your time on delivery (client work) and half on development (your business).
Too many freelancers like you forget that YOU are your most important client.
So every day you should be devoting as much time (if not MORE) working on business development as you do working on any other client project.
“Business development” includes important tasks like:
Adding new portfolios that demonstrate specific outcomes/problems you solve
Building and maintaining a lead generation engine
Streamlining or outsourcing your accounting & invoicing system
Networking with potential clients and complementary freelancers
Communicating with past clients and identifying new problems you can solve for them
Creating digital products and productized services to scale your business
…I could do this all day, but I think you get the idea.
There’s A LOT that goes into running and building a business, and you need to devote time to that side as well or you’ll be an employee for rent forever (without ANY of the benefits!!).
If you’re already spending WAY too many hours a day on client work to be able to spend half your time on business development efforts, then that’s a sign it’s time to:
Raise your rate: you will lose some clients, but that’s the point. The clients who remain subsidize the ones who can no longer afford you.
Hire subcontractors: Bring in folks to handle some (or all) of your delivery so you can continue prioritizing your business.
(It’s a lot easier to solve for having too much work than it is to solve for having too little, so optimize for the former.)
Most freelancers go into business for themselves to do “the thing” they do for their clients.
But never forget that YOU are a business, not just a freelancer.
And your #1 client is you.
If you take care of your business and build something sustainable for yourself, you’ll perform better for your clients, too.
Best,
Jamie
For freelancers that want to fill their client pipeline & earn more consistently:
→ Build a $10K+/month freelancing business with my proven 3-pillar system inside The Freelancing Program ($59/month).
→ Get the competitive edge with daily templates, frameworks, and freelance market intel from Workforce 3.0 ($4.99/month).
→ Hit your freelancing goals this year with a customized, step-by-step game plan that we’ll create during a focused 1:1 coaching session ($750) with me.
