Becoming a freelancer and finding work is easy. According to one survey, 50% of freelancers are able to find paid work within three days of networking on social media.
But work and well-paid work are two very different things. If you want to become a highly paid freelance consultant, you’ll need to implement a strategy from day one to make it happen.
If you want to start or reboot your career as a freelance consultant, here’s a step-by-step strategy to make sure you’re paid well.
You can Check my Monthly Blogging Income Report.
1. Pick your Niche
There are a lot of people today selling knowledge online on subjects they don’t actually know much about. If you want to become a successful freelance consultant, you need to pick a niche where you actually have real expertise.
Just because you have an interest in marketing doesn’t mean you’re equipped to become a successful marketing consultant. You’ll need to take the time to build extensive knowledge on the topic. That said, you don’t need a BA in marketing to do it either. There are plenty of e-courses and webinars out there to help you broaden your skillset.
Alternatively, you can also choose a niche where you’re already considered an expert because of your day job.
2. Set up your Platform
Next, you’ll need to set up your platform to attract clients to your business. Usually, this is a website. Setting this up is actually one of the easy parts – see my how to make a website tutorial. What should your website include? At a minimum, you’ll want an explanation of your services, credentials and some testimonials to back you up.
Also, freelance marketplaces are a good place to set up your profile and let clients discover you. These marketplaces often get the bad rap for being mills where freelancers get paid ridiculously low rates but if you’re not the famous Neil Patel (who reports charging $5,000 an hour for consulting), I wouldn’t rely only on your website to get leads.
“Freelancers need more marketplaces to create leverage and increase earnings,” says Jeff Tennery, CEO of Moonlighting, a mobile, on-demand app that connects people looking to work and earn more money with people ready to hire through its platform and scores of media partners. “The more places that freelancers can be discovered, the more clients they can secure, increasing demand and higher rates. Moonlighting is now available in over 150 news media outlets like the Chicago Tribune, LA Times and USA Today, plus is being preloaded onto 100,000+ Verizon Mobile devices nationwide giving freelancers more opportunities to work and more selection of higher paid gigs.”
3. Choose your Rates
Once you have your platform set up, you’ll need to choose your rates. You may or may not want to publish these on your site. Keeping them private will give you the option to adjust them for certain clients when necessary.
How much should you charge? This is the biggest factor that determines how quickly you can become well-paid. Set your rates too low, and you’ll likely spend a long time busying yourself with work that doesn’t pay well.
To get an idea, Kennedy Information did a survey of consulting fees for a partner small management or IT consulting firm. They charge $294 per hour on average. In comparison, an independent entry-level consultant charges on average $175 per hour.
To command higher consulting rates, Moonlighting CEO, Jeff Tennery, says you have to treat your freelancing like the legit business that it is and invest in marketing via various channels so you can generate more interest than you can fulfill, and be more selective in the projects you accept, “which could include price, or overall contentment in the project.”
4. Start Networking
The best place to start is with your existing professional and personal network. Who do you already know who might send clients your way? Send out emails to your friends, family, and former work clients letting them know you’re open for business and looking for referrals.
Next you need to start networking online. Sign up for online communities related to your industry and engage with people there. Set up professional social media accounts (especially LinkedIn and Twitter). Start following and engaging with other professionals who might send referrals your way.
Networking is an ongoing process that you can’t give up on. If you want to become a highly paid freelance consultant, you can’t let your current work bog you down. Network consistently so you’re always on the lookout for better, higher paying clients.
5. Learn to Say No
One of the biggest fears people have of becoming a freelancer is the prospect of not having enough work. Finding clients is easy if your rate is really competitive but filling your hours with low-paying clients will never let your business scale. That’s why you have to learn to say no.
Potential clients will ask for special discounts. But toe a hard line with your published rates. Make sure any additional consultations you do are paid. Your time isn’t free.
If you find yourself getting too busy for new projects, it’s time to raise your rates. Do this consistently if you want to really make money as a freelance consultant.
Follow these five steps, and you’ll be well on your way to becoming a highly paid freelance consultant.
2018 Monetization Technique
As many of us are aware, the maximum potential for making money via a niche blog is through affiliate marketing. Simply stated, you recommend a genuine product on your blog, and when people sign up via your affiliate link, you will be paid a handsome sum.
1) Google AdSense:
At this point in time, Google AdSense is making around $600 every month, and it is such a relief to have recurring income from our blog. If you have a blog with decent traffic, you can make good money with Google AdSense.
In fact, if you are a newbie and you are looking forward to starting a blog with the intention of making money, AdSense should be among your priorities. Once Adsense starts making $10-20 daily, it will give you a sense of comfort and confidence, and you can start exploring other monetization opportunities.
2) Direct ad sales:
As mentioned above, I have 4+ blogs running at this moment, and many advertisers contact me directly using a contact form for advertisement opportunities. This is hectic because you have to give details to advertisers as well as a payment method.
Direct advertisements are good because you are saving money by eliminating the middle man. These direct advertisement sales are making me almost $1500 per month.
The key to getting direct advertisements is to add an advertisement page on your blog and give all the necessary details like ad spaces available, ad placement, traffic details and a marketing pitch in whatever form your advertisers can expect.
3) Sponsored reviews:
Somehow I’m not very fond of sponsored reviews, but I keep getting lots of emails for paid reviews. I check the software or product myself, and after that I approve it for review. If the product or service is free, I do the review for free. Otherwise, I charge a nominal fee depending on how much a single license of that software or product would cost.
From paid reviews, I make about $1500+ per month. Alternatively, you can always ask for a premium product for free testing, and you can write a review and include your affiliate link, which will make more money in the long run.
I also offered a few other instructional services such as those for WordPress SEO and WordPress theme development, but in time I retired them to bring something better to the table, as the service sector requires a great deal of time, and time is always an issue for a professional blogger. I realized that instead of offering those services for $20-30/hour, I could make the most of my time with blogging consultancy.
Well, these are just a few methods that I use for blog monetization, and there are many more ad networks that I keep trying on my blog network. I continue to play with the latest monetization methods to make the most out of my online journey. I will keep updating this page with the latest methods I find successful, so make sure you are subscribed to my email newsletter for updates.
I’m sure this will help those who are looking for ways to make huge money from blogging.