There comes a time during the course of your career as a freelancer where you have a steady influx of clients, and most of them go away satisfied with your services, ready to refer other people to you. Things are going well, and you’ve even had to turn down clients because of being swamped with work. Well, if you’ve got to that stage, you have a few options in front of you to take your career to the next level.
1. Start Charging More
Raising your prices is the easiest way to deal with too many requests for work, whilst still maintaining a balance in your earnings. You’ll be servicing less people, but at a greater price. This means less work for similar earnings. You need to consider a few things before you go ahead and raise your prices:
- Do I have enough “over-requests” to justify raising my price?
- Will my client demographic be able to afford such a rise in price?
- How much should I raise my price by?
- What will be the reaction of the existing client base?
A great way to answer some of those questions would be to do a short survey with one of your trusted clients, and ask them personally what they think about you raising your prices. The worst thing that can happen is them turn around and say they would never hire you if you were to become more expensive, and by them doing that you’ll save yourself a lot of hassle if you make the wrong decision.
You need to keep in mind that the general consensus is going to be a negative one for the majority of existing clients, so if your existing client base is where you draw the majority of your work from (not new clients) then I suggest you don’t go with the price rise and instead take another step mentioned here.
2. Become Selective
If you have plenty of potential clients looking for you to complete some work for them, it becomes an opportunity to make your work a lot more exciting and fulfilling. There are always clients who bring projects to you that you love to work on, probably because you have an already vested interest in that topic. Well, you can choose to go with these projects more often, and select the clients and projects that you want to work on more, rather than widely accepting most projects that come your way.
Here is where I start covering ground which strays from the core freelancing ethic. You have a lot of clients who need servicing, and this is a prime time for you to look to expand your operations to be able to cater for this demand. Yes, I mean work with another freelancer and start to expand into a firm. This will likely lead to a drastic increase in earnings, because you’re able to service the majority of requests and aren’t just brushing away work because you don’t have the time to do it.
As soon as you start seeing that you have too many requests for work, you should consider taking steps to develop or evolve your business. Waking up in the morning and seeing that you have multiple requests for work per day is a very healthy sign for your freelancing business, so I would encourage you to make the most of it and really take it as an opportunity to grow your business rapidly.
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