The pandemic was an inflection point for most people. Many people lost their jobs, many others were forced to work from home full-time — and what’s more, they liked it! And the global acceptance of flexible work also saw a boom in freelancers across industries. The numbers are hard to state, but the tribe of freelancers is growing exponentially.
In 2020, a report by the Businessline called India the second-fastest growing freelance market in the world, with an estimated 15 million freelancers. And the popularity of remote jobs indicates the number has only grown since then.
For professionals, freelancing has many obvious benefits. There’s the flexibility of setting your own work hours, remote working from any corner of the world, and possibly making more income than a desk job would afford you. As appealing the freelance life sounds, there are a few technicalities to becoming a freelancer. We will cover all the points for you in this guide to help you become a successful freelancer in 2023.
Steps to getting started as a freelancer
As per a Razorpay report, the average annual income of freelancers in India is INR 20 lakh. But the final figure is likely to change based on the job role you choose. But a fair word of caution: Becoming a successful freelancer in India requires a lot of grit, hard work and dedication. Here are some basic steps to help you get started:
- Identify your skills and passions: Before you begin your freelancing journey, taking stock of your strengths and interests is important. It will help you choose a niche that you are passionate about and have the skills to excel in.
- Create a portfolio: A portfolio is a collection of your best work that showcases your skills and abilities. This will give potential clients a better idea of what you can offer them.
- Set up your workspace: Whether you work from home or in a co-working space, it’s important to have a dedicated workspace that is conducive to productivity.
- Determine your rates: Setting your rates can be tricky, but it’s important to find a balance between what you are worth and what clients are willing to pay. Research industry standards and adjust your rates accordingly. It’ll likely take a bit of trial and error to settle on freelancing rates that work for you.
- Register with freelancing websites: There are many freelancing websites in India that can help you find clients and build your reputation. Some popular options include Upwork, Freelancer, and Fiverr.
Choosing your niche and target clients
Finding your specialisation and the ideal clientele is the first step to succeeding as a freelancer. You must choose the clientele you wish to deal with and the services you can provide. This will help you to concentrate your efforts and establish your reputation in your industry of choice.
Start by evaluating your knowledge and talents before deciding on your focus. Consider your skills and limitations and pick the services where you can excel in terms of output.
Some other factors that go into choosing your freelancing career: your existing experience, education, and talent. It’s time to decide who your target customers are once you’ve established your specialty.
Study the market
Understanding your target industry, market, and competitors requires extensive study. Doing this will help you establish yourself as an authority in your industry and get a competitive edge. Online resources like social media, forums, and blogs may help you connect with your target audience and demonstrate your knowledge.
Deciding on your specialty, and the ideal clientele, is an essential first step to being a successful freelancer. Remember, you need to concentrate your efforts and develop a compelling solution for your clients’ problems. The solution should satisfy their demands. This will enable you to differentiate yourself in the gig economy and create a successful freelancing career.
Building your online presence as a freelancer
If you are a freelancer, then the internet is your best friend! Building a solid digital presence is a key differentiating factor that determines your success. It is the first step to building your brand, connecting with new customers, and displaying your work.
Showcase your freelance work and services
Identifying your abilities and creating a portfolio that showcases them should be your priority. This portfolio needs to contain examples of your work, recommendations from previous customers, and a thorough outline of the services you provide.
Select a home workspace or co-working space
The next step is to design your workplace after you have built your portfolio. This might be a workspace that is convenient for your productivity, such as your home office. Additionally, you should spend money on the equipment and software required to produce top-notch work for your clientele.
Settling on a good co-working space in your city or town will also provide some break from the monotony and isolation of working from home.
Setting a competitive price
Setting your prices is a crucial part of developing your freelance career. Establish a competitive charge that represents the value of your job, after researching the market pricing for your services. Setting your price right will help you attract the right kind of clients, who will pay for these services. Lastly, signing up with freelance websites is a fantastic method to display your work and get in touch with possible clients. Upwork, Freelancer, and Fiverr are a few of the top freelance websites in India. These websites give independent contractors a forum to advertise their services and meet clients from all around the world.
Setting your rates and managing your finances
One of the most important factors of being a successful freelancer in India is setting your fees. You must make sure that your prices are competitive on the market and but sufficient to cover your expenses. Following are some pointers to manage your cash flow and determine your prices as a freelancer:
- Research the market: Before setting your rates, research the market and see what other freelancers in your niche are charging. It can help you set competitive pricing by giving you an idea of what the typical going rate for content is.
- Calculate your expenses: Calculate your monthly expenses, including rent, bills, and other necessary expenses. It will provide you with an idea of how much you need to earn per month to make a living!
- Determine your hourly rate: Once you have calculated your monthly expenses, determine how many hours you plan to work per week. Divide your monthly expenses by the number of hours you plan to work to get your hourly rate. Over a period of time, you should look to work with clients who give you a higher hourly rate.
- Consider your experience: If you are an experienced freelancer with a strong portfolio, you can charge a higher rate than someone who is just starting out. Your past full-time work experience should also factor into any freelancing career that you take up. Consider your experience and adjust your rates accordingly.
- Set project-based rates: For larger projects, it may be more beneficial to set a project-based rate rather than an hourly rate. This will ensure that you are paid for the entire project rather than just the hours you worked, saving you time on paperwork!
- Manage your finances: As a freelancer, you are your own finance manager and HR department! It’s important to manage your finances effectively. Keep track of your expenses and set aside money for taxes. Hiring a qualified Chartered Accountant or using accounting software can make this process easier.
Strategies for finding and landing clients
As a freelancer in India, finding and landing clients can be challenging. However, with the right strategies, it can be made easier. Here are a few effective steps you can take to find and land clients:
- Leverage your network: One of the easiest ways to find clients is to leverage your network. Reach out to your friends, family, and acquaintances and let them know you are a freelancer. You can also consider joining professional groups and communities on social media platforms like LinkedIn and Facebook.
- Cold pitching: Cold pitching is an art. It involves reaching out to potential clients who may not have advertised a job opening and getting work! It can be done through emails, social media, or even phone calls. Ensure that you have done your research and clearly understand what the potential client needs before you make those cold calls.
- Freelancing websites: There are many freelancing websites, like Upwork, Freelancer, and Fiverr, that can help you find clients. It is, however, important to note that these websites are highly competitive, and you may have to bid lower than your usual rates to land your first few clients. They also take a cut out of your money, so keep that in mind when you sign up.
- Referrals: There’s no better way to grab more work than word-of-mouth referrals. Once you have landed a few clients, ask for referrals. Satisfied clients usually refer you to their network, which can help you find more clients.
Some final words of advice
For individuals who have a niche, existing specialisation or a well-paying industry, taking up freelancing may be a lucrative career choice. You can follow the tips provided in the article to become a successful freelancer.
Remember to maintain your composure in the face of difficulties. Maintain perseverance, remain adaptable, and continuously work to deliver high-quality work and first-rate customer service.
A freelance career also allows you the freedom and flexibility of being your boss. Make sure you make the best of the situation! Good luck with your freelancing endeavours!