How To Become A 6-Figure Freelancer

I haven't posted much content in the past 2 years here on LinkedIn (or elsewhere, for that matter) geared towards colleagues and freelancers.

The main reason was that in these 2 years my business exploded, I had a new baby, and decided to reorganize my daily schedule and operations.

In these 2 years I also became, quite unexpectedly, a 6-figure freelancer.

Money is not a topic Italians discuss a lot about (scratch that. It's definitely a taboo). That's probably why I was always looking at international 6-figure colleagues thinking they had some magic power I just didn't possess. On top of that, I had this feeling that making it to 6 figures in the US was easier than in Italy, basically for the sheer size of the market.

So how did I become a 6-figure freelancer?

Keep your sense of perspective

First of all, I have no overnight success story - it took me 10 years. There, I said it.

Invest in your business

It all began during the lockdown. My work had gone down to zero, and I decided to invest in an SEO course held by Meg Casebolt (highly recommended).

At the end of the course I started implementing tweaks to my Italian website and completely overhauled my English one, learning 1 important thing: getting feedback from professionals outside of the T&I industry is crucial. They don't get what we do, for the most part, so they can really help us create a customer-centric website.

The SEO course was not the only thing I invested in during that time. I also decided to make the most of LinkedIn, so I booked a coaching call with Virginia Katsimpiri, eMBA, PhDc that proved extremely useful. I improved my online presence and landed one of my most important customers to date.

Delegate

Work started rolling in again and pretty soon I was booked solid. Towards the end of the year, it suddenly hit me. Marketing was working, but if it had to depend on me, it just wouldn't get done. I didn't have the time.

So, I looked for a VA and delegated my editorial calendar to her, thus freeing up a lot of time.

Increase your rates

Over time, I increased my rates. Nothing extravagant (I didn't double them in a week), but I started quoting higher prices to each new client.

Find the right people

Some freelancers don't like being project managers. I loved it. But I still was doing most of the work myself. So I booked a Voxer Day with Laura Briggs (if you haven't read her Advanced Freelancing, just go get a copy) and followed her simple, straightforward advice: find new freelancers to team up with.

Through this, I was able to find one colleague in particular, who has become my project manager recently.

Teaming up does not mean outsource only: you can diversify your services offering something complementary to your core business, through a partnership with another colleague.

Know your numbers

This depends on where you live, so I can only offer vague advice, but one thing that's applicable to everybody is: know your numbers. Even if you are starting out, be sure to know - at the very least - how much your net income is, how many costs (fixed and variable) you have, and ask your accountant to give you a forecast of the taxes you'll be paying with reasonable advance.

I use accounting software that allows me to have a quick overview of my gross and net income, of my expenses and social security payments. On top of that, I know that I need to consider my private health insurance and pension fund.

Get unstuck

I often get tangled up in all.the.possibilities. And my scarcity mindset does not help either. So, I look for answers in podcasts and books, I reach out to authors, and I also get coaching.

This year I worked with Moira Monney and she really helped me get unstuck. After the birth of my third child, I was overwhelmed and had lost any interest in my work. She helped me prioritize, face my fears and - most importantly - free up time without freaking out.

This could be a whole 'nother book on its own, but let's just say that you can be as skilled and talented and organized as you want, but to get to the next level you often need a gentle push.

If you reached 6 figures, how did you do it? Is there any topic you feel is a taboo that you would like to discuss about? Please feel free to reach out!