How Using Freelancers Saves You Money

I’ve been working with freelancers for over nine years now. One of the biggest things I want businesses to know about working with freelancers is how much money they can save by hiring freelancers for projects. Whether you’re a multi-level corporation or a small start-up, chances are, you could benefit from using freelance work. 

For most businesses, utilizing freelancers helps save them money, even if the freelancer has a high rate. This is because of the high-value that each freelancer brings to their projects. Sounds good, right? Below, I’ll let you in on the details of how using freelancers can save your business money. 

Keep a Smaller Staff

Hiring an employee to cover every single thing your business may need is often not possible, or smart. Instead of paying many employees to cover many bases, you can keep a smaller team and bring in specialists as and when they’re needed. This is where freelancers come in, and one way freelancers save you money. 

Say your cafe needs to send out a newsletter about your special events once a month. Asking one of your regular employees, who isn’t an expert in writing, to do it for you isn’t a great choice. The employee may stumble through it, and then the result from the investment may be subpar as well. However, you might not have the extra funds to hire a full-time marketing professional. 

By hiring a freelancer to do the job for you, you avoid needing to grow your staff to accomplish your marketing goals. It allows you to easily test the success of your marketing efforts without investing in hiring a new employee as well. The investment you make on paying the freelancer can be looked at as a marketing expense and will be easily tracked for success. For example, if you pay $300  a month for the newsletter and it garners a $5,000 increase in sales on event nights, then you are definitely making a good investment. If you don’t see any return on your investment, it’s easy to discontinue working with your freelancer, whereas you’d have a bigger decision to make if you'd hired someone to do the job. 

Hire Experts

When you utilize freelancers, you enable yourself to hire experts in their field. Hiring a full-time employee with 20 years of experience is going to be costly. However, if you hire a freelancer with the same 20 years of experience, you’ll be able to get that specialized help for a specific project. In addition, you’ll always be able to negotiate a price that works for you, and if it doesn’t, you’re free to look elsewhere. 

A freelancer’s fee may be high--you may need to pay $3,000 for a new website--but the investment will garner a higher return. Let’s say instead of hiring a freelancer for the job, your startup decides to hire a fresh graduate to build and upkeep the site part-time. Even though you can pay the graduate a much lower rate, the site will most likely take longer to develop and will be less professional. In the end, you may end up making less money because you invested less to begin with. 

The expert skill and experience is the value in freelancing. Freelancers have experience with many different companies and factors, so they can advise the best plan of action for your needs. Employees who have not had the chance to work for different companies have a limited range of experience to draw from. Because you are hiring only for specific things, you can afford to hire experts for every situation. Although it takes time to find the right freelancer, the time spent on hiring a freelancer is generally much less than a traditional employee. 

Save Time and Money on Employee Expenses

By hiring freelancers, you can drastically reduce your expenses usually spent on employees. When you hire a freelancer, training or orientation are not required like you do when you hire an employee. This means that you’ll be able to allocate your time and funds to other things that need your attention. 

You can view your payments to freelancers as investments in your company. Whatever product you’re paying them for has a particular value price to you. Keep in mind that when you’re hiring a freelancer, they still need to pay for their own insurance and taxes, so their hourly rate will have this built in. Don’t be afraid to pay top dollar for a highly qualified freelancer--you’re already saving money by microselecting skills for specific projects instead of multiple employees. 

Hiring freelance experts can be one of the best investments your business can make. Are you ready to increase your profitability and decrease your expenses with freelancers? Head over to CreativesAtWork to find the perfect match for your project!

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