The reason most freelancers struggle to reach a steady income of $1000/month is because they lack a strategic approach. 

And this happens because most freelancers focus more on immediate tasks rather than a long-term strategy, leading to inconsistent income and burnout! 

In a world where freelancing is increasingly competitive, knowing how to navigate this landscape is crucial. 

…Which is why today, we’re going to walk you through:

✅ Effective Pricing Strategies
✅ Networking and Client Relationships
✅ Mastering Time Management
✅ Client Red Flags To Watch Out For

Before we dive into the first crucial step, here’s some context into the article. 👀

The Context and The Direction

This article isn’t for people freshly starting in freelancing – this is useful for you only if you’ve selected your niche, and have a portfolio built out that you can utilize to send to clients.

If you’re reading this, most likely you’re in your early stages, maybe earning $100-200/month freelancing, and are confused how people in your industry land high-end deals, and getting to $1000/month easily doing the same work you do, right?

Well, it’s not hard. $1000 is still a small number - but I used it mainly because it’s a realistic benchmark you should target for now.

Once you nail that first $1k, getting to 2k, 5k, and even 10k becomes relatively easier. 

Nonetheless, you can’t go to $1k/month by having a flawed pricing strategy – which is what we’ll go over now.

Effective Pricing Strategies

Pricing your services right is the key to balancing profit and demand. 

The way you price your services can drastically impact your freelance career. It's a delicate balance between what the market can bear and what your skills are worth. From my observation, I’ve seen freelancers who adopt value-based pricing see an increase in income compared to those who don’t. 

Value-based pricing focuses on the value you provide, not just the time spent. The mistake to avoid is underpricing your services, which can lead to overwork and undervaluation. 

Let’s say you’re a copywriter. Your work has helped your client generate $10,000 so far. However, you get paid only $200 because you worked a small number of hours, hence you exchanged your time for money (as we do for commodities)

But if you’re positioning yourself as a premium copywriter, you can charge $1,000 and a certain % in commission from your client, in return you promise them $10,000 in results. In this case, your client respects and trusts you more than any average copywriter.  

To execute a good value-based pricing strategy, assess market rates, your skill level, and client budgets to find your ideal pricing structure. 

Your income is directly correlated with your pricing. The right pricing strategy can transform your freelancing from a side hustle to a lucrative career.

Next, let's talk about client relationships.

Networking and Client Relationships

Networking is key to finding new opportunities and building a steady client base. 

Most freelancers I’ve seen get their work through networking, especially when they’re starting out. It’s usually your warm leads, friends, or family members that trust you with your first project or so.

But yes, building and maintaining professional relationships can lead to repeat business and referrals, reducing the need for consistent marketing (while I advocate for that, it’s more difficult to maintain it!). 

A big mistake you need to avoid in client management is to have a selfish approach. If you only think about getting more from your client instead of providing more value to them, you’ll make a bad name for yourself in your clients’ eyes and their own network too. Other than that, make sure to provide 3x more value than what you ask for. 

And yes, don’t forget to engage in online forums, attend audio events, and what not. Networking is about creating and sustaining a community around your professional life.

Finally, let's delve into how effective time management can revolutionize your freelancing career.

Mastering Time Management

Good time management is crucial for maximizing productivity and, consequently, your earnings. 

It's about working efficiently, not just hard. Overbooking and not scheduling time for breaks or personal development are common pitfalls. 

We live in a day where we’re flooded with AI tools and software related to time-tracking. So why not make use of it?

Use such tools to establish a structured routine to make the most of your working hours. 

If you can keep track of how much time you can give to each client, you can work better on onboarding new ones and perhaps outsource some of your current work and earn a premium amount to save your time.

As you grow your freelancing career, you slowly realize how necessary your time becomes. Make sure you keep a hold of it from day 1 or else it’ll come bite you back later! 

The key takeaway: Effective time management is foundational to a successful freelance career, enabling you to achieve more in less time.

Bonus: 3 Client Red Flags To Watch Out For 

When you’re desperate for work, you typically accept clients that don’t match with your personality, business goals, budget, etc. 

And keeping the client becomes more expensive for you than what they pay you.

Hence, you must have a thorough qualification process on what type of clients you should work with - but that’s for another day.

Here are 3 red flags to watch out for in your prospective clients:

1. They don’t let you take the lead.

Some clients act like they know better than you in your own work, and tell you how to do your job…. It’s weird, I know.

As a good service provider, you may take it constructively, but it becomes taxing as you move ahead. 

Typically these clients have ‘control’ issues. They won’t be satisfied until you do things their way – and if you follow their way, they don’t get results. Either way, you’re bound to suffer.

Here’s my tip: Guage in the first month how things go, but if you feel suffocated in doing your own work, then professionally part ways and end things on a good note.

2. They have vague objectives.

What’s worse than clients who boss you around?
Ans: Clients that don’t know what they want in the first place.

If you deal with a prospect like this, more often than not, you’ll be trapped. 

You’ll have to pivot a lot, overexplain, and maybe even do things you’re not specialized in. All because your client isn’t clear on what they want.

Remember: you can only do your job perfectly if you both are on the same page goals-wise. 

Your job isn’t to create a goal for them. That’s for them to do.
Your job is to create a pathway to achieve that goal.

3. They’re always in a rush.

Working with clients who are always in a hurry will suck the life out of you.

They hold no boundaries, and they sure as hell expect the same from you!

While it may sound a little harsh, but an urgency on the client side doesn’t make it obligatory for you to follow their timeline. 

Now yes, one or two times every other month or so makes sense, but if this situation persists throughout (especially in the starting phase), then there’s a problem.

People who go into Freelancing aim to be in charge of their hours. If you don’t even do that, what’s the difference between this and a job where you’re overworked and underpaid? 😅

Aaand that’s it! This article was a little advanced to what we generally talk about, but I hope it brought a ton of value.

All in all, by focusing on these 3 areas, you can build a successful and sustainable freelance career and push your earning income to $1000/month or more. 

Remember, freelancing is not just a way of working; it's a lifestyle that requires continuous learning and adapting.

Good luck in your freelance journey! 💸

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