Like every other person fresh out of college, I also wanted to make quick money. A friend suggested trying freelancing. After a few days of gathering information on how to go about it, I made my first gig on a freelance platform.
Soon, I got my first order. I was over the moon. I spent several hours researching the topic, taking tips from people who were already doing it for a couple of years, and finally came up with content that got approved. That was just the start. A few months down the lane, I had a handful of regular clients and made good money.
What could be better, you ask? Well, after the initial euphoric state of making more money than I expected, I realized that I was trading my time for money. I spent all day working tirelessly to get my orders done and got cash in return. The orders kept coming in, and the hours went rushing by, and soon I started running out of time. I couldn’t do it singlehandedly.
I started outsourcing work to other newbie freelancers. The workload reduced to some extent, and I started getting time for other activities. That’s when it hit me! Why not take my freelancing up a notch and transition to entrepreneurship? It wasn’t an easy task, but I had already set foot towards it, and with a little more effort, I could easily become a business owner.
I didn’t have a mentor or anyone to guide me, so I did what I thought would work. Not all strategies were successful; some sent me hurling back to square one. But with persistence and hard work, I soon understood the basics and started seeing results.
I would like to share my experience and journey with you!
What steps did I follow to take my brand from freelance to business? Here’s a rundown.
5 Steps to Take Your Brand From Freelance to Business
1. Change your Mindset
When you transition from freelancing to business, the first step is to change your mindset – think about growth. You must think passionately about acquiring new skills and take failure as a learning curve, instead of a setback. You must change your focus from “How much work have I got done today?” to “How many clients did I get this month?” and “How much revenue will I be able to generate this year?” It’s all about taking control over everything and streamlining processes so that you can make money while you sleep.
2. Build a Team
The second most important step in switching from freelancing to business is to delegate tasks. You certainly can’t do everything yourself! You need a team. Maybe in the beginning you might feel that everything is manageable, but as your business grows, so do the tasks, like accounting, marketing, graphic designing, blog writing, video editing, and more. Building a team will not only help you take care of additional tasks and give you a support network, but it will also enable you to spend more time on creating strategies to expand your business.
3. Provide a One-Stop-Shop
As a freelancer, you can only offer limited services, as you’re solo. But, as a business owner, you have an entire team with a variety of skills like technical specialist, designer, SEO specialist, etc. This will enable you to provide a one-stop-shop to the clients and get your hands on bigger and more interesting projects with a huge budget.
4. Invest in Your Business
If your business is based on word of mouth or referrals, it’s time to move to the next level. This means going professional by making your own website, and investing in various marketing techniques to create consistent revenue streams. You may need to invest in web designing and hosting, social media management, advertising, business permits, and other marketing material like business cards, etc.
5. Turn Services into Products
You have a team, you have a bunch of different services; now it’s time to turn those services into products. Change your per-hour work into monthly contracts that you can sell to your customers. Offer packages with promising deliverables to clients who want to establish their business. Not only will this strategy end your per-hour struggle, but it will help you grow something beyond a job.
I’ll be quite frank with you here.
Taking the leap from freelancing to business can be a daunting process that requires a lot of patience. It may take several years to fully establish your business and make a name. The initial period may be quite stressful and you might be short on cash, but perseverance is the key. With a proper business plan and a growth mindset, you can build an infinitely rewarding brand in the long haul.
Follow these steps and see yourself soar to new heights!