How to start a freelance business & earn extra money

This article will give you a 7 step process on how to start a freelance business of your own. Make sure you check out our blog for more great freelancing tips.
How to start a freelance business & earn extra money

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With people tired of the corporate rat race, many are looking for ways to make money on the side or start their own business altogether. Starting a freelancing business can give you the flexibility you desire, but it can seem daunting at first. Don’t be discouraged, because there are a lot of resources online to help. 

Do you want to know how to start a freelance business? This guide can get you started. 

Determine Your Goals

First, determine if you are going to keep your current job and freelance on the side or if freelancing is going to be your full-time gig. Freelancing allows you to work a flexible schedule from home. You need to research the types of jobs that allow for this setup and find ones that interest you. Some examples include writer, graphic designer, photographer, IT support, recruiter, data entry, customer service, tutor, translator, and personal trainer. If you have the right software and tools, you can perform a variety of jobs from home on your schedule.

Understand Your Finances

When figuring out how to start a freelance business, money is key. It’s fun to dream about creating a multi-million-dollar business, but the truth is you need to be realistic. You may have always wanted to tell your boss you’re quitting, but make sure your finances are set up first. You should test your business ahead of time and see how much income it’s generating before you hand in your resignation. 

Find out how much money you’ll need to spend on your business. Set goals for monthly income based on your living expenses. If you don’t meet them, it may not be the right time to jump ship from your full-time job just yet.

Be Committed

To start a freelance business and be successful at it, you need to be committed. It won’t be a laid-back experience. If you’re looking for more than a side gig, you’ll need to put 40+ hours into your business every week if you want it to succeed. Therefore, you need to find a niche you’re not only skilled at but is also interesting to you.

Find Clients

Many companies hire freelancers because they can use them as needed. They don’t have to pay them a salary or benefits. They don’t have to provide equipment or office space. They just send them assignments as needed. So once you figure out what you want to do, look for clients who could use your services. There are many job boards with ads from companies looking for freelance workers. They’re a good place to start.

Create a Portfolio

Potential clients will want to see examples of your previous work, so you should have examples ready to present. Create a website that shows off your best work, whether articles, presentations, videos, or artwork. Once you create a website, update it regularly with fresh content. Clients will be impressed by this, especially if you can create something just for them to show them what you’re capable of achieving. 

Set Pricing

As mentioned earlier, to start a freelance business, you need to focus on making money. There’s likely a lot of competition out there for cheap freelancers but focus on your value, not your price. Do some research based on your skills and experience. Also, look at similar positions to determine how you will set your prices. You can charge per job or on an hourly basis. If you plan to work with a company for the long term, you can work on special pricing.

Keep at It

If you want to know how to start a freelance business, you need the right attitude. Stick with it! It won’t be easy, especially at first as you gear up and find clients. But even as you become established, you’ll likely hit snags along the way. Running a successful business requires a positive, can-do attitude. If you get frustrated and upset easily and are inflexible, then a freelance business may not be right for you. 

Contact Us Today

Many of us dream of a better life. If you want to know how to start a freelance business, Moxie can help. We can show you how to work smarter, not harder. Use Moxie services to manage your freelance business.

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Our team of career freelancers writes about best invoice practices, what makes a great client, and repeats the mantra, "never work without a contract." We're opinionated about the future of work and will always be on the side of freelancers.
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