"To prevent disasters like this, I recommend taking a 50% upfront payment before you even start, then taking the final 50% before any final files are provided. Any client not willing to work this way is unlikely to ever pay and should be avoided. I also strongly advise freelancers to have a written freelance contract, signed by the client, detailing what’s been agreed upon and what will happen in various different circumstances. This will give you ammo should your client be unreasonable, and will also add a level of professionalism and credibility to your service."
Another pitfall to avoid is over-dependence on a single income source. A good entrepreneur will avoid over-dependence by not letting a single client represent more than 25% of their income. If a single client or customer represents too much of your sales, what happens when they decide to stop doing business? You lose a significant portion of your income.
Also known as Logo Geek, Ian designs logos and brand identities for startups and SMEs. He also has over 80,000 Twitter followers and runs a popular social media group where he creates valuable resources for designers. Here's his best business advice specifically for freelancers, and for more check out his episode on my podcast about how to become a freelance designer:
As many people know all too well, a job can easily turn into the focal point of your daily life. Instead of being a way to support your lifestyle, your work dominates your time. And when that happens, the time you have to dedicate to your loved ones becomes scarce. Combating this is precisely what some have in mind when they decide to take the leap and start their own business.
When it comes to digital marketing, there’s always more to learn. New technology and changing trends mean that if you don’t make an effort to regularly do research, you’ll be at constant risk of falling behind. Luckily, a number of great digital marketing blogs stay on top of the most important digital marketing news and trends you should be aware of. Add these to your list of subscriptions to stay in the know.
In a nutshell, you find a product, purchase the product and get it to Amazon. You then write copy or hire a copywriter to write your product description and get reviews on your product as fast as possible. Amazon is an authority site for online shopping. They’re recognized throughout the world and are a selling machine. With Amazon’s massive customer base, getting your items sold is a done deal when you know how to play your cards right.
Are you a freelancer, and do you have ample time at your disposal? If your answer was a yes to the above questions, then you can make money as a freelance research for several organizations and individuals scattered across the world. All you need is to prove to them that you have what it takes to deliver on set targets and you will secure good paying research and report writing jobs.
You can earn above average rates of return because peer-to-peer lending eliminates the bank function. That means that you participate in nearly the entire interest rate being paid by the borrower, rather than the less than 1% that you will typically earn on certificates of deposit. And you can reduce your risk by investing in slices of hundreds of different loans.
Some businesses may be interested in adding other types of paid content to your website. This could include videos, podcasts, or any other material that would work with your site and help a business market itself. Always make sure that paid content isn’t too promotional. It needs to add value to your audience first and foremost, and not just present as an advert.
This is a great way to make extra cash if you’re always plugged in to the events around your city. It’s also a great way to deal with wanting to go to an event, but not being sure you’ll be able to make it. You can just buy the tickets, and if your plans don’t work out, sell them on StubHub for a profit! Keep in mind that StubHub takes a 15% commission on all sales, so make sure your prices are set where you want them to be!
The vacation rental business is booming. While the mere mention of it might make you think about billion-dollar titans like AirBnB or HomeAway, there are niche businesses like Michael Joseph's InvitedHome and Joe Poulin's Luxury Retreats and many others being carved out across a variety of markets. When it comes to vacation rental homes and vacation rental management, companies are earning anywhere between 10 percent and 40 percent on the gross rental rate depending on the location and the management level.
1. Position yourself as a leader. Entrepreneurs lead the way. But positioning yourself as a leader is not just about having the right answers – odds are you won't have the right ones in every situation. It’s more about knowing where to find the answers. You’ll have to make a lot of tough decisions in your new line of duty, so you need to have confidence in the decisions you make on a day-to-day basis.
Online sites like Etsy and ArtFire are platforms that make it extremely easy for crafters who can produce a steady supply of quality handmade items, like crocheted blankets or unique painted glassware. Startup costs are extremely low if you purchase your materials in bulk from a craft supplier, and if you can turn around orders quickly, you'll be making a profit in no time at all. It's even possible to turn your store into a full-time gig.
So, I put together a free master course for you to take that spreads out all of the work involved in starting a blog, into a series of action-packed lessons. My free course breaks the entire process of starting a blog down into an incredibly simple 7-day process for going from 0 to publishing (and promoting) your first blog post in just 1 week. I can't recommend it enough.
Do you know the ins and outs of search engines and have skills in platforms like Google Analytics? The owners of a lot of smaller companies don't realize how much of an impact search engine optimization (SEO) can have on their business. Educate those business owners on the power of SEO to help transform their websites into a more SEO-friendly property. Use your skills to show business owners how to read and use their analytics data the right way, and how to properly use keywords and structure content to get more traffic.
If you are a software developer of course the internet is your strongest marketing platform. There is a large market for software on the internet. All you need to do is to look for a task in the IT world and then build a software to help simplify the task. For example; you can develop a software that will help people manage their clientele base (CRM software), you can develop software that will help people manage their payrolls, accounts, online files et al.