avatarTim J. Schröder

Summary

The article discusses three misconceptions about freelancing that can hinder income growth: the belief that more work always equals more income, the necessity to start with low rates, and the expectation of quick financial success.

Abstract

The author reflects on their early freelancing career, identifying three detrimental beliefs that limited their earnings. Firstly, they challenge the notion that simply increasing the volume of work will proportionately increase income, advocating instead for selling complete services or products to focus on the value rather than the volume of work. Secondly, the author suggests that starting with free work to gain social proof can be more beneficial than beginning with low rates, as this can lead to higher rates and better clients. Lastly, the article warns against expecting freelancing to be a quick path to wealth, emphasizing the importance of building trust and aiming for sustainable growth over time.

Opinions

  • More work does not necessarily equate to more income; freelancers should focus on selling value and outcomes rather than just output.
  • Starting with free work can be strategically advantageous for gaining social proof, which can then be leveraged to increase rates significantly.
  • Freelancing is not a get-rich-quick scheme; it requires building trust and consistent effort for sustainable financial success.
  • Freelancers should aim to create scalable income by offering complete services or products, which can decouple earnings from daily effort.
  • The journey to successful freelancing involves working smarter by creating efficient systems and leveraging social proof, rather than just working harder.

3 Lies I Believed When I Started Freelancing (That Killed My Earnings)

Don’t let them fool you

Photo by Unsplash on Unsplash

Four years ago, I started my freelance journey.

After moving back to Germany from the UK and leaving corporate, which I was sick and tired of, I decided it was time to do something else.

Although I had no idea what I was doing.

I sent out 30 proposals until one got stuck, and I got my first full-time writing gig. Life has never been the same.

But I could have earned more.

Why? Because I believed 3 stupid lies that killed my earnings.

Don’t.

Here’s what to avoid.

#1 More work equals more income

Freelancing enables us to have a scalable income.

That’s awesome. But if you’re a newbie, you might fall into the trap of thinking more is more.

It doesn’t work like that.

When I started writing, my pay was limited to how many words I wrote. The more words, the higher the income.

Sounds great, right?

But that’s the wrong approach.

Because then, again, you only tie yourself to a limiting factor. In this case, it’s the number of words. In most others, it’s time.

You want to sell a complete service/product.

It’s simple: instead of selling 800 words for an article, you sell an article that serves the purpose.

You sell the outcome, not the output.

With that, you can focus on packing a punch and saving time.

If you have a once-made product to sell, even better.

Because it unhinges your salary from your daily effort.

Work smarter, not harder.

#2 You need to start with small rates

To be fair, it’s the easy way in.

And I’ve done it. But again, it’s not the smartest way.

The better way is to get your first few clients for free.

Yep, for free.

Why? Because you want social proof.

You want someone publicly telling others that you’ve done an incredible job.

This is how you can skyrocket your rates.

Just look at most of the LinkedIn and X ghostwriters. Within weeks, they start getting big clients to work for.

You can do the same.

Don’t work for low rates; work for social proof.

Then, leverage it.

#3 You’ll become a quick hit

Freelancing can help you get wealthy.

But it won’t skyrocket you there. You need to build it.

When I started, I only saw the potential and thought I could continue multiplying. But it doesn’t work like that.

You need to build trust first.

Then, you can scale. But scaling needs continuous effort.

You’ll lose speed as soon as you step off the gas pedal.

Instead, you want to focus on continuous and sustainable effort instead of afterburner action.

Then, you can make it sustainable in the long term.

Choose a pace you can keep.

Plan for longevity over instant success.

Don’t believe these lies when starting to freelance and build something that lasts.

Thank you for reading.

What lies would you add to the discussion?

Photo by Daniel Thomas on Unsplash

And if you want to read more:

The Happiest People In The World Have Realized These 3 Simple Truths

Here’s What I Learned After Publishing 100k Words On The Internet

What I Learned From My First Viral Story on Medium

Freelancing
Earning Money Writing
Business
Self Improvement
Solopreneur
Recommended from ReadMedium