If you are a skilled person and want to make a good amount of money in the short term then freelancing may be your go-to option but it comes with its own challenges. In This day and age Freelancing can be your sustainable source of income but with few conditions.
I started my own freelancing journey back in 2018, with my programming skill and somehow good communication I earned a handsome monthly amount even I was a student at that time. Over time with some bad and good experiences I decided to change the way I think about freelancing and how it should be done.
So here are the 3 most important lessons I learned in my Freelancing journey.
1. Keep Yourself Updated
First and by far the most important thing I Learned is that keep yourself updated. Change in technology is constant, If you will not upgrade yourself in your skillset there are great chances that someone will replace you. Always keep on learning new things, engage yourself in the learning curve. Do not just complete different jobs give time to yourself to learn something new, Something advance in your niche. For Example, my niche of freelancing was membership websites so I have to keep an eye on upcoming updates, new membership plugins, and other 3rd party plugins as well.
2. Choose A Niche With less competition
Be specific about what you do, Choose a skill in which you see less competition but more growth in the future. Don’t become freelancers like many others, Who is just focused on the common market and don’t chose certain skill or path. For Example, If you choose WordPress, Be specific that you are integrating a certain plugin or certain theme or perform certainly.
3. Build Multiple Streams of Income
Do not just reply on freelancing and put yourself in losing everything all at once. If you read the stories of entrepreneurs you will notice they always build multiple streams of income and make sure that money flow never dry. Make sure you learn risk management, Don’t just waste all of your time looking into Fiverr or Upwork jobs, Divide your time into different blocks.
Reserve a few blocks for learning something new. Try to find other ways or platforms to provide services. After getting a couple of warnings from Fiverr my worst fear came true of getting banned from any of these platforms, But Thankfully I was in a situation where I kept things going. And it’s not your mistake always sometimes clients tend to choose aggressive behavior and that will lead you to warnings or a permanent block from the platform.
Here are a couple of things you can do if you are looking to build other streams of income.
1. Start teaching / Make your own course
2. Start a Blog
3. Invest in stocks or Crypto
4. Provide Consultancy
5. Lean Other skills
6. Create your online presence on other platforms / Become an influencer
7. Sell Digital Products