How to Double Your Freelance Income (Without Taking On New Clients)
Do you ever feel like you are constantly seeking out new clients as a freelancer? Some would argue that this constantly selling your services and hunting down leads is natural for freelancers.
However, constantly trying to keep up with the hustle can leave you feeling like you’re just another person stuck on the contractor hampster wheel. What people fail to mention is that constantly being in hustle mode requires a ton of time and energy.
Plus, as a freelancer, you don’t get paid for your time spent marketing, networking, and following up on leads. You should always keep your options open when an opportunity presents itself, but you don’t have to constantly hunt down new clients when you want to pay or your bills or make more money.
Here are a few things you can do to double your freelance income without taking on new clients.
Target Clients Who Could Gain A Lot From Working With You
As a freelancer, it’s easy to look solely at your needs when searching for new clients. Sure, you need and deserve a professional client who’s easy to work with and has a generous budget. But what about their needs?
It’s important to target clients who could stand to gain a lot from working with you. Even if you start off completing smaller tasks, it’s best to secure a client who you see potential to do bigger things with in the future.
This may mean offering more services down the line or working on multiple projects. I have several long-term clients who I started out freelance writing for, but then start doing additional tasks like editing, blog management, and VA work. As a result, my income has increased without having to get another client.
Help Client’s Reach Their Goals
Freelancers are contractors and can enjoy the benefits of not officially being on the team and having to submit to employee standards. However, it would help to align yourself with your client’s mission, goals, and vision so you can help them be successful.
If you think of your freelance work as just a quick gig, you’ll only ever have quick gigs to work with. If you start to view yourself as a valuable asset to the team who’s providing an important service, you’ll start to play a role in helping your clients reach their goals.
When your clients start becoming successful and making more money, that means they’ll have more money to pay you and more reason to keep you around as a valuable team member who produces results.
Raise Your Rates
After you’ve completed the first two steps, focus on raising your rates at least once or twice a year. This is an easy way to double your income without taking on new clients and going through the onboarding process again.
If you have 5 clients and increase your rates by at least 10%, you could easily start making 50% more than what you used to perhaps without doing much extra work.
If you’re helping your client reach their goals, 9 times out of 10, they will approve your increased rate in order to keep working with you.
The best way to double your freelance income without taking on any new clients is to raise your rates. In order to successfully raise your rates, you need to raise your value and help your client reach or exceed the goals set when they hired you for your service.
A happy and successful client is has a direct connection to the a happy and well-paid freelancer. Instead of tirelessly chasing gigs and treating it like a quick buck, consider taking these 3 action steps instead to improve your freelancing business.