How to create consistent income in your freelancing business.
Recently, I did a Q&A on our Instagram stories and someone asked us:
How do you budget for van life & apartment life when freelancing income is so inconsistent..?
This made me inspired to share with you the real question:
How do you create consistent income in your freelancing business?
I'm going to share with you my top three quick tips on how to make it happen.
I know all too well the cycle of feast and famine as a freelancer.
One minute you are on top of the world the next you have double digits in your bank account wondering how you'll afford your bills.
SO instead of using tactics like budgeting, spending less money, freaking out, tracking bills, and hoarding every dollar in fear, you'll never have enough.
Here are some things that are a little more productive.
TIP #1: Create alternate sources of income.
If you are relying on your clients to pay bills and constantly chasing invoices.. you'll find yourself relying on other people for 100% of your income.
This is the main reason why you’re feeling stressed out
Make time in your weekly schedule to create another income source. Even if it's only $100 extra dollars a month..that is still a little bit more freeing.
Here are some examples of alternative income sources:
Create a digital product(e-book, template, audio files, workshop)
Share affiliate links on your blog, podcast, or videos.
Start a Patreon account
Write and publish your own book
Sell physical goods
Tip #2: Create an amazing offer & client experience
It's one thing to book new clients... but what about the clients you already have? People you've already worked with are much more inclined to hire you again, but you need to let them know and be available to them!
First, you need to make an amazing signature service or offer in your business. One that your clients can't resist!
Then you need to focus on creating the entire process an EXPERIENCE.
If your clients have an amazing time working with you, they will likely tell your friends, and come back for more.
Make sure you look like a pro with a website, brand, pricing guide, welcome kit, client management system, invoicing and contract process..etc. This will make their experience better which will, in turn, lead to more consistent $$.
How can you offer MORE to the clients you already have? How can you make the experience working with you even better?
I personally use HelloBonsai to manage my clients and create an epic experience for them.
The less they have to think about the better. HelloBonsai makes it easy for them to sign contracts, view proposals, pay invoices, and download all of their files in one place.
I LOVE this software for my business and I've been using it ever since I started in 2014. There are so many other options out there, but this one is the best for freelancers.
It's easy to use, the interface is beautiful, and it makes managing your projects a breeze.
If you are looking for something even more robust, Dubsado is another great option! But HelloBonsai is perfect for freelancers just starting out and if you just want a simple process for contracts, invoicing, and proposals.
Tip #3: Take a good hard look at your reality.
If things are not going the way you wanted them to.. money isn't coming in, clients aren't paying, or they are nowhere to be found. Don't just make the excuse that the work isn't out there or that there isn't enough to go around.
If things aren't consistent right now for you, ask yourself...
Where in my life am I not being consistent?
A lot of the times what is happening in your reality is a reflection of yourself. There is most likely some area of your business or your life where you aren't being consistent.
Maybe it's your social media marketing efforts, maybe it's your branding, maybe you aren't on time with deadlines or paying your bills. Maybe you haven't been sticking to your healthy habits...
Whenever things seem to not be working out for me AKA a client doesn't pay on time..I take a hard look at areas in my life where I am not showing up on time. It might be pressing snooze on the alarm clock too many times, it might be avoiding a bill I don't want to pay..
It might seem a little odd, but trust me.
Whenever I focus more on how to be more ON TIME in my business or my life..that's when my clients suddenly start paying their invoices on time too.
Like attracts like. Based on the law of attraction, whatever vibe we put out into the world, draws to us more of the same.
So if you're not showing up on time, being late, and not paying a bill..similar events will come back to you.
I teach you all about how to create consistent income in your freelancing business in the Work From Wherever Academy and the doors officially open on October 23rd! Enter your email below to get on the waitlist!