Many young people have recently turned to online self-employment rather than traditional jobs in enterprises, because of the flexibility, freedom and independence of self-employment.
But if you are a novice in online work, you may find it difficult to increase the percentage of profits from your new freelance business, which all freelancers faced at the start of their campaign.
If you've already been working online for a while, you certainly wonder how I get the highest return from self-employment, no one wants to stay at the starting point or beyond.
This prompted us to write this article to inform you of the ways and directions you can go to achieve the highest possible profit rate of your independent business.
This article becomes a compilation of the most important ideas and ways to help you increase your income by a significant proportion, whether you are a self-employed novice or already a freelancer.
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| How to make the highest return of self-employment (12 tips from professionals) |
Your net earnings ratio from online self-employment depends on several different factors such as the number of your customers and the type of service you provide to them, as well as the number of hours you spend working, and a lot of other factors.
As long as the control factors are multiple, the various factors can be exploited to make the required improvements to your profit rate at a remarkable increase.
So in the following paragraphs we present the most important ideas and practical ways to manage those factors to get the highest earnings possible from your online freelance business.
1. Increase the number of your customers
Any independent, especially at the beginning of their journey into self-employment, seeks to continuously increase the number of their customers, which of course results in an increase in their net profit.
You can attract more customers by offering some free trial offers for your services, or even discount offers on the customer's first order at your service to try them.
Here are a few simple points that will help you increase the number of your customers:
- Your friends and acquaintances told you about your business, and that you are looking for customers in case they are related to a potential customer.
- Make your social media accounts a way to identify yourself as a professional freelancer in your field.
- Search for your online customers and send them mailings to inform you about the above.
- Do a professional Portfolio for you and try to post it online as much as possible.
- Always try to develop your accounts on freelance platforms.
In this regard, you can also offer monthly, annual or quarterly subscription offers with various plans, which many customers prefer, as it allows them to control the cost required of them for a basic service, but this point does not fit all areas of self-employment.
2. Raise Your Prices
Contrary to the prevailing belief that low price attracts customers, experience has shown that many customers trust only high-price services and products.
A simple price rise makes them feel the product or service quality increase, and they consider the high price as evidence of the provider's experience and high skill.
So you can take advantage of this look to raise your price slightly, especially if you offer a low price model at the start of your career, it's time to raise your prices as your experience grows.
in order to be able to price your work as an independent on a proper basis; You can see the prices of your competitors and providers of the same service you offer in different places, so that you don't get too far away from the average prices.
You should also learn how to price well based on the prices of the ores you use in your business as well as the maintenance prices of your periodic equipment, and the value of the time spent working must also be calculated.
One of the most important strategies that can help you complete the step of raising your rates is to inform your customers of the new pricing plan in emails just before your contract expires.
It is preferable to tell them your wishes to complete work with them and re-contract the new prices, while explaining the possibility of negotiating this price to reach the parties' satisfaction.
In this case you can resort to a small trick of telling them a price that is larger than you actually want, so that you reach the price you want after negotiating with the customer to feel that you have reduced the price for it.
3. Increase projects from existing clients
The trust you build with your customers helps you increase the number of projects available to them, so try to understand your customers' needs and future plans, and then offer them some of those work they may need.
To get a clearer view of your customers' goals and plans, you can ask them after you have done your work about their next steps, and then try to adapt your business to progress what they need in the next stages.
Most often you prefer to look for customers you can continuously deal with and extend contracts and services between you, as each customer takes time to understand their strategy and the nature of your business. If working with the client for a long time saves a lot of waste time.
Bearing in mind that the desire for continuous work exists within the client as well, it is easier for him to contract a specific independent who trusts him to complete his projects, instead of searching every time for a new independent who does not know the extent of his skills and experiences.
4. Give up working with some customers
At times you may need to abandon some customers and terminate dealings with them, when you want to adjust your price ratio or the amount of work required and reject those adjustments.
Naturally, you fear that move and fancy losing customers, but it's OK to do away with low-paid customers to make room for new, higher-paid customers to suit your new phase.
Instead of fully terminating work with them, you can modify the agreement between you, such as reducing the number of projects you do for them while retaining the same wage as your previous one.
For example, if you offer a company four monthly ads on your platform for $100, you can instead offer only two or three ads for the same value.
5. Cooperate with other freelancers
You can collaborate with other freelancers in the same field in order to market for yourself to increase the number of your customers, or collaborate with freelancers who provide services associated with the service you provide.
For example, if you offer a blog and website development service for seo compatibility, you can collaborate with an independent content writer.
Or, for example, if you provide marketing and advertising content writing services or ad work on different platforms, you can achieve a joint collaboration with an independent designer and so on.
This strategy serves to achieve a large number of client referrals among collaborating freelancers, increasing the customer base and increasing the number of projects required of you.
Also, creating a community for you from your independent colleagues in the same field is helpful. For example, many famous freelancers have a surplus of work to distribute to their colleagues, or perhaps nominate you to customers as an alternative in case they don't have time to complete a job.
6. Provide some additional services
Customers are always attracted to those who do their core business with some features that make it easier for them to do so later. If you can provide an additional service that gives them some additional possibilities, they will be loyal to you, as will other customers.
For example, if you offer a website design service, why not offer a logo design service for the site, or any of the services that the website owner needs later.
You can combine this strategy with the previous one; There has been collaboration with one of the freelancers specializing in this additional service, thereby ensuring that your earnings and those of this auxiliary freelancer are increased.
7. Build a network under your management
Depending on the strategy of working smartly instead of working hard; You can subcontract with novice freelancers or less experienced than you to carry out the work instead of you under your supervision.
For example, if you are contracting with your customers to submit an article for their blog at the $10 price of the article, why not contract with another independent to implement the article at the $7 price, for example, and you benefit from the price difference?
This strategy helps you increase the number of projects you can deliver to your customers. It also makes it easier for you to contract more customers. The more freelancers you can help, the more customers you will earn.
It sounds tempting, doesn't it? But be careful in choosing assistants for you and constantly reviewing the work they do so that you don't lose your reputation if they don't do business well.
8. Provide paid consulting in your specialty
Surely you have come across a kind of customer who wants to know how to complete the work so that he completes himself in order to reduce the cost as much as possible.
With these customers it becomes the best service for you and them to provide paid consultations according to your specialty. If you offer promotional designs for example, you can provide consultations on color selection and the like.
You can also offer what looks like an e-booklet to become a complete guide to helping customers get their projects done themselves to make this guide driven, of course, but at a lower cost than providing the service yourself.
Although that method will not bring profit as much as service delivery, it guarantees you a reasonable additional profit, and you don't worry about customers going to this type, most customers want to get the job done by a professional freelancer like you.
9. Maintain specialty
Some believe that if you provide a lot of made-up services it will achieve greater success and vogue opportunities, but unfortunately this is not true at all, but specializing in a specific and clear service helps you to achieve greater success.
Your specific specialty helps you raise your experience and skills faster, and increases the number of your customers and their outgoing referrals. The specialty allows you to dig deeper into your field than reflected in the nature of your service to the public.
On the other hand, specializing in one field makes it easier for you to continuously develop and learn about the latest developments in this field, which increases the quality of your services and increases their marketing value.
The idea of specialization also helps you reduce the size of your competition in order to get customers, the more you specialize in a specific service the fewer your competitors in it.
Choosing a specialty is best for you and in the context of your actual interest as it makes it easier for you to adhere to this specialty and continue to develop and learn about it.
10. Review your skills in professional ways
New customers have more confidence in professional-looking freelancers, this shows a highly experienced independent who has high confidence in his business than is certainly reflected in the same audience.
One of your most important ways of appearing in a professional way is your interest in your LinkedIn account. The client often sees your LinkedIn file to learn about your expertise, skills and a lot of information about you, so make sure to look like a professional expert.
It is also advised to create a personal website for you, and review on this website the highlights of the projects you have accomplished while familiarizing yourself with your most important experiences, testimonies, etc.
You can take advantage of the various self-employment sites to give this professional look to your career by taking care of your profile information on these sites with the inclusion of an exhibition of your work containing your most important projects.
11. Keep marketing for yourself
The online freelance market is filled with competitors, and in order to maintain your place in this vast market you should pay close attention to the constant marketing of your services and the continued appearance of potential customers.
Continuous marketing increases the number of your customers while also increasing the number of referrals from old customers, so it is recommended to allocate daily or at least weekly time and maximum monthly attention to the marketing process of your services.
The Internet offers you a wide range of tools and platforms that can be used to market your services, and LinkedIn is one of the most important ones that connects you to potential customers.
You can also rely on paid marketing campaigns if you need to, and this feature is available on Google Search Engine and various social media sites.
The most important marketing method is also to message your old customers to view your latest services, or talk with your friends about your services and your desire to increase the number of customers and involve them in your marketing process.
No one overlooks the importance of the network of relationships in marketing operations, which you get when you participate in professional groups on different platforms such as Facebook or by attending events and conferences in your field.
12. Keep a specific time to work
As a freelancer, time is your real wealth, either you can organize it and exploit it in a way that helps you accomplish your tasks and increase your projects, or it is lost from you and therefore your business is lost from you.
Although the sense of freedom from managers' grip with freelancers is remarkable, this freedom may become a spectre that threatens to lose business, for easy submission to various distractions, and the possibility of postponing tasks due to the lack of a manager and his permanent follow-up.
So as a freelancer keep a specific time to complete your daily work and not be subjected to any distractions at this time, commit to this timing in engaging in work, and imagine yourself inside your office in a company.
Social media notifications are also advised to close so you don't get busy answering them, with a set time every few hours to see important email for example.
In order not to be busy with other tasks such as home business or buying some items etc, you can also schedule and organize all those tasks so that they do not affect the timing of your work and do not neglect to perform them.
To implement these tips you can rely on some electronic tools such as social media shutdown programs for a fixed period, or time tracking programs to learn how much time you spent on each task and so on.
Here we come to the end of our advice to answer one of the most important questions of freelancers, both experienced and new, after we have reviewed more than 10 effective tips to increase the profit rate from self-employment.
At the end of our topic, we recommend combining all or least of these tips to get the most out of the way, surely if you want to ask how I get the highest return from self-employment.
These tips and steps have gathered the most important factors that directly or indirectly affect your production rate and your profit, so they have provided solutions to solve all the problems you may face.
It also introduced steps that increase the effectiveness of your customer compact processes or increase your concentration rate, time and other important matters, thus ensuring you significantly increase your earnings ratio.
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