5 Easy Steps to Start a Freelance Business

You’re probably aware that you have to spend money to make money. The good thing about a freelance business is you can start with a pretty bare business budget and still see results. You can build a solid foundation without spending hundreds or thousands of dollars on bells and whistles. Here are important (and relatively affordable) business tools to invest in first that won’t break the bank:

What You Need for Your Freelance Startup

Get a System to Collect Money
By definition, freelancing is working for many different bosses instead of being employed by one boss. Collecting one check from an employer is as simple as pie. Invoicing and tracking many payments can get pretty challenging. Invest in a system that will make this process easier for you and the customer. Due offers invoicing and ways to collect payment online that are affordable.

Start an Email List
An email list is key because it’s where you’ll keep in touch with your people. Typically, email services charge by the number of people on your list. A small email list won’t cost too much to manage in the beginning. MailChimp is the email service I used at first. It’s currently free up to 2,000 subscribers and 12,000 emails sent per month. The next plan up starts at $10 per month. MailChimp has a cool feature where you can estimate the cost of your email list as it grows here.

Sign Up for a Project Management System
Freelancers juggle many projects at the same time. A project management system is one way to stay organized so you can meet all of your deadlines. The good news here is that many project management systems are completely free to use unless you get premium features. Asana and Trello are both systems that I’ve used in the past to manage different projects. Having a system in place to manage your projects will be a lifesaver when it’s time to outsource.

Invest in the Right Marketing
Putting money into marketing can be a tricky business because you can easily go down the rabbit hole. There are many marketing strategies and social media platforms where you could invest your money and time.

If you don’t have much money to invest right now, the foundational elements are your website and social media pages on platforms most used by your audience. Your website and social profiles are like online business cards.

I’ve used WordPress for most of my websites. I’m a non-techy person who taught myself how to build sites with WordPress from scratch. There are a plethora of YouTube videos on how to start a WordPress site. Wix and Squarespace are other “drag and drop” website builders that may be easier to set up.

Invest in Teachings that Won’t Break the Bank
No need to drop a lot of money on a business coach right away. Instead, focus on looking for clients and doing the work. Much of the information you need to learn about business comes from running your own business. If there’s an aspect of business you need to learn from a pro, try books first or affordable courses and then move on to the more costly options when you really need it.

Final Word
Starting a business doesn’t have to be expensive. Build the foundation and then invest back into your business as the money starts coming in.

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Source: https://smallbiztrends.com
Image Credit: Due.com




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How the '3 Whys' Can Help You Find Purpose in Your Business

As part of my MBA program, I’m taking a class on entrepreneurship. It’s been interesting, mostly because there’s a lot of content that seems familiar because I’ve been running a business for more than a decade. But, it’s also been a good reminder.

One of the items we’re learning about is the importance of having a purpose in your business. Finding that purpose can keep you going when you’re feeling unmotivated, and it can help you innovate and move forward when you’re stuck.

As you dig down to find purpose in your business, one strategy is to use the “three whys” to help direct your thoughts. Once you go through this exercise, you’ll have a better idea of how to hone in on your purpose. You’ll have a better focus for growing your business, and a mission that will keep you -- and your customers -- excited about your business.

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Using the “three whys” to pinpoint your purpose

Using the “three whys” is about getting to the heart of the purpose in your business. You start by asking yourself why you’re starting the business you start. For example, I might focus on my freelancing business.

Why am I starting a freelancing business?

That first question forces me to ask why I’m starting. So, I answer with: “So I can earn money while working from home.”

Next, you drill down deeper, asking the second why. “Why do you want to earn money while working from home?”

The answer to that question, for me, was, “To be able to spend more time with my son and be available for him while still paying the bills.”

So, now we’re getting somewhere specific and concrete.

The third why is, of course, why I want to spend time with my son while being able to pay the bills.

And my answer is that I want to have a good, meaningful relationship with my son while maintaining the financial stability that allows us to focus on our relationship.

This exercise can work for any number of businesses. You can use the “three whys” to follow your line of reasoning for making more money, helping others with your product or service, or any number of things.

Once you get to your third why, you have a good idea of your purpose, and you can focus on that.

Staying motivated by your business purpose
With the “three whys” helping you, it’s possible to stay motivated by the purpose in your business. Because I started freelancing to maintain a better relationship with my son, I’ve found it helps me stay motivated. When times were tough, or I didn’t feel like doing the work, being able to point to my son and our relationship helped me stay focused on motivated.

The freelance lifestyle gives me freedom and flexibility to spend time making memories with my son. On top of that, it also allows me time to volunteer in my community and engage in other meaningful activities. By staying focused on the way my business enhances my life -- and allows me the chance to enhance the lives of those around me -- I can stay motivated.

Find that for your business. When you know you have purpose and you’re fulfilling it, it’s that much easier to stick through the hard times and achieve success.


Source: https://www.entrepreneur.com/

ABOUT WNFP
Westchester Networking for Professionals (WNFP) is a business organization focused on providing our members and guests with an extraordinary networking experience, bringing business professionals together for the sole purpose of generating new relationships and developing new business opportunities. Not a member, learn how you can become a member and join this awesome group of professionals to connect and grow your business.

Stay Connected with WNFP!