Freelancing can be a great way to earn income, gain experience, and test your ideas. But it can also be a stepping stone to building your own business, if you know how to leverage it. In this article, you'll learn some of the best ways to use freelancing to create and grow your own venture, whether it's a product, a service, or a platform.
One of the first steps to building your own business is to find a specific problem that you can solve for a target market. Freelancing can help you do that by exposing you to different industries, clients, and projects. You can use your freelancing gigs as an opportunity to research and validate your niche, by asking questions, getting feedback, and spotting gaps and trends. You can also use your freelancing skills to create a portfolio or a prototype that showcases your value proposition and differentiates you from the competition.
Explore freelancing to test at a small scale your business idea Before taking a scaling approach. It’s a good opportunity to master a diverse range of skill set whilst managing a smaller amount of clients to know what is needed for your business when you build it.
Explore specialized freelancing platforms and networks related to your niche. These platforms can connect you with clients seeking specific expertise, helping you build your portfolio.
To identify your niche I suggest analyzing previous projects on three main factors inspired by good to Great. What are best at? What are you passionate about? What drives your economic engine (can make money)? If you want to add a 4th element consider if it can help the world. Get em all and you’ve found what the Japanese call your Ikigai. The niche is SO important. Don’t fall into the trap trying to be all things to all people. Make hard choices. It WILL pay off!
Agreed with a caveat. I think that you learn something from every work assignment, no matter if it's a freelancing gig or a fulltime role. You may not want to work in a consultative capacity if you are definitely going to be working in their specific niche. For example, if you are going to build a CRM platform, certainly get a freelancing gig on sales consulting. But maybe don't get a job consulting with Hubspot or Pipedrive. You want to use freelancing as a way for you to understand the tactics and day-to-day of your target market. You don't necessarily want to compete directly with the companies that you work for as a freelancer.
Freelancing allows you to try your best in various industries with not much at risk. You can try and fail again and again Until you find the real gap and something that really interests you. Ofcourse you can build a reputation and portfolio as a freelancer which will be really usefull when you start a service based business
Another benefit of freelancing is that it can help you build a network of potential customers, partners, and mentors. You can use your freelancing contacts as a source of referrals, testimonials, and word-of-mouth marketing for your own business. You can also use your freelancing relationships to find co-founders, collaborators, or advisors who share your vision and can complement your skills. You can also use your freelancing platform or community to connect with other entrepreneurs who are in the same or similar stage as you, and learn from their experiences and challenges.
Network is everything! Il helps getting support, expertise, different point of views. It takes time to build and nourish it but it is absolutely worth.
The importance of networking is signified in the definition of the word. "Networking" means "the process of interacting with others to exchange information and develop professional or social contacts." Technology has enabled us to be able to connect with one another from across the globe, and there is great value in building your network here on LinkedIn and whichever social media platforms you prefer. However, to have a true and honest conversation with individuals is where the real connection is made. I met some of my most valued clients while working at presidential libraries, before I considered ever venturing into freelancing. Don't get so caught up in adding contacts that you overlook the power of conversation.
Expand your freelancing skill set beyond your niche. This allows you to offer a wider range of services to potential clients and positions you as a versatile problem solver.
I find it a good way to identify potential clients to ask myself the following questions: 1) What kinds of problems am I good in solving of? 2) In what industries to these problems occur? 3) What are my most potential client firms in these industries? 4) What is the title or job description of the person, who would by this service from me? 5) What are his pain points currently?
Absolutely, freelancing is a great way to build a network. Especially with more senior professionals, they might be "embarrassed" by using platforms like Fiverr, etc. But don't be - use freelancing platforms to generate relationships with these customers, and use their testimonials elsewhere. You don't have to mention where you got them. Meaning, use freelancing platforms to get you off the ground, and develop a roster of testimonials that you can showcase.
Freelancing can also help you develop the essential skills of time and money management, which are crucial for running your own business. You can use your freelancing income as a way to fund your business expenses, such as domain names, hosting, software, or marketing. You can also use your freelancing schedule as a way to balance your time between working for clients and working on your own business. You can set aside a certain amount of hours or days per week or month to focus on your own goals, and use tools like calendars, timers, or trackers to stay organized and productive.
Time is money is not just an idiom. Many successful entrepreneurs launched their business as a side hustle first to test the market. Once you’ve honed your price and validated demand, don’t be afraid to move 100% into entrepreneurship. Businesses fail when they don’t monetize momentum.
Treat your business tasks with the same dedication as client projects to ensure steady progress. Apply discipline to your entrepreneurial journey by setting clear goals and deadlines, and sticking to them.
As I work with many start up and early stage entrepreneurs, having free lancers and voluntary staff is key. Being an inspirational leader or business helps to get the freelancers and 'cheap' work force on board, as their is fierce competition for staff, paid and unpaid. Especially, in the UK sustainability sector where I work predominantly in. Having a clear vision makes a company stand out and helps with gaining trust, not only from customers, but also to attract staff, freelancers etc. Flexible working modes, also attract freelancers, that want to contribute in various jobs and stay flexible. Clearly having clear mapped out tasks and responsibilities does help to keep projects to time and budget, which applies not only to freelancers.
Leverage freelancing as a springboard to build your business by: 1. Networking: Forge relationships with clients and peers; they could become partners or refer new business. 2. Portfolio Building: Deliver exceptional work to create a showcase that attracts future customers. 3. Capital: Use earnings to fund your ventures without seeking outside investment. 4. Skill Development: Hone skills on diverse projects, becoming a seasoned expert in your field. 5. Market Testing: Pilot services and receive feedback to refine your offerings. 6. Brand Building: Establish a strong personal brand reflective of quality and reliability. Remember, each freelance gig is an opportunity to learn, earn, and grow your future enterprise.
Freelancing offers a chance to master vital skills like managing time and money—a must-have for any business owner. The money you earn freelancing can fuel your business expenses, covering things like domains, software, or marketing. Your freelance routine becomes a blueprint, balancing client work and your business tasks. Allocating specific hours or days each week or month for your own goals and using tools like calendars or timers keeps you organized and super productive. Freelancing is like a training ground for mastering essential skills like time and money management, skills that are vital for steering your own business.
Finally, freelancing can help you test and iterate your business idea, by allowing you to experiment with different aspects of your product or service, such as features, pricing, delivery, or customer service. You can use your freelancing projects as a way to get feedback, data, and insights from your clients and users, and use them to improve and refine your offering. You can also use your freelancing platform or channel as a way to launch and promote your business, by creating a landing page, a blog, a newsletter, or a social media account that showcases your work and invites people to sign up or buy.
Freelancing can be more than just a way to make money. It can be a way to build your own business, if you use it strategically and creatively. By identifying your niche, building your network, managing your time and money, and testing and iterating your idea, you can turn your freelancing skills into a successful venture.
Not everything you try will work. But if you don’t try, how will you know? There is a law of large numbers at work here to help you find your niche. The fewer things you try your success rate has to be high. The more attempts you make you only need a few wins AND you’ll identify something that works. Don’t be afraid to fail. It’s a data point. It’s learning. It’s getting closer to what wins!
Creo que el trabajo autónomo es un puente que te abre camino al mundo de "negocios propios", y es que solo trabajando por tu cuenta desarrollas habilidades claves que, con la iteración vas perfeccionando para construir ese proyecto de negocio que en realidad se convertirá en tu estilo de vida. No es fácil dejar la zona de confort y salir a abrirse su propio camino en un mercado cada día competitivo, pero sin duda es necesario dar este primer paso para avanzar en el mundo del emprendimiento
I've been freelancing for over ten years in business consultancy. I've been learning from one entrepreneur after another. Business after another. Only after this time I started building a startup myself. I am testing with a product, then another, and learning from all those clients. Yes, freelancing can be a huge value-adding element to entrepreneurship.
Embrace feedback, both positive and negative. Constructive criticism is invaluable for improvement. Be prepared to pivot or make changes based on what you learn. Remember, the most successful businesses are often the result of many iterations.
Freelancing offers a unique opportunity to experiment with different services, pricing models, and marketing strategies. Use this time to test the viability of your business concepts. Understand what resonates best with your audience, refine your offerings, and gather feedback. The lessons learned from these experiments become the guiding principles for your future business. Consider freelancing as your sandbox, where you refine your entrepreneurial ideas before launching them on a larger scale.
Working with freelancers has been a tremendous benefit to building my company. I've been able to hire exceptional talent at a reasonable rate to help me move quickly through challenges I encounter that I don't have expertise in. Working with freelancers is also a great way to test working with someone before bringing them on full-time. However, you must be clear on expectations and have a legitimate contract because anything can happen, even if you work with friends.
While freelancing, have a clear exit strategy in mind. Define milestones and goals that indicate when it's time to transition from freelancing to running your own business. Your exit strategy should encompass financial considerations, portfolio milestones, and a clear vision for your entrepreneurial venture. Planning ahead ensures a smooth transition and minimizes potential hurdles when taking the leap into entrepreneurship. Freelancing, when approached strategically, goes beyond earning income; it becomes a transformative phase for skill acquisition, networking, and market exploration. Each aspect of freelancing contributes to the holistic development of an entrepreneur, creating a solid foundation for a successful business journey
Transitioning from a corporate job to freelancing was both liberating and challenging. It allowed me to explore my niche in digital marketing, but I had to learn to manage my time effectively and build a network from scratch. This shift ultimately paved the way for launching my successful consultancy. Growing my freelancing business is consistently investing time in skill development. By staying updated on industry trends and expanding my skill set, I not only offer a broader range of services to clients but also position myself as a versatile and in-demand freelancer.
Sometimes freelance work is a great way to experiment with a skill set that you’d like to develop but haven’t found a way to monetize previously. Use it as your real world training! Better than spending $10,000’s on college courses you may never use, this may give you an opportunity to fund your education, practice self-directed learning, and retaining your occupational autonomy. It’s low risk with potentially large rewards. And pass clients can easily become future customers, or even partners ??