July 7, 2015
One of the most valuable lessons I learned as a freelancer was that the key to making more money was to truly understand what I was good at, what I wasn’t as good at, and who my ideal client was. The better I knew myself and my capabilities, the better and more efficiently I could server my clients. What it took me a bit of time to learn was that raising rates isn’t the only way to make more money. Spending time more efficiently is often preferable.
When I stopped consulting with clients I was making 50% more per hour than 6 months before that point, and I hadn’t raised my rates the whole time. Could I have charged more and made more? Sure. Could I have worked more hours per week to make more? Absolutely. But working too much causes burnout (been there, done that), and charging more is difficult when you can’t explain to clients why they’re going to pay more. So to effectively charge more, someone providing any kind of client service needs to be able to explain exactly what the value is for the client – what the service is worth and why you’re best suited to do it.
In other words, whether new to the consulting game or not, all freelancers and small consulting teams need to go through a self-identifying process in order to build a successful client list while also charging more. The following 4 articles are particularly helpful with better understanding who you are, what you’re great at, why clients should pay you more, and how to show clients that you’re the best person for the job.
4 Resources to Charge More with Better Self-Branding
The Drip Team shows you why specializing in a field can be incredibly lucrative via an example of someone making 100x the average of their field and helps you focus on a very specific, tailored set of problems and their solutions.
Brennan Dunn, one of the best known voices in the online freelancing community, validates Drip’s point about specializing/niching, and digs deeper into how you create a niche offering. He also counters the fear of over-specializing with the logic of why focusing on a niche actually lowers your risks.
Prospective clients need to have a sense of who you are and what type of person they’re trusting with their projects. This article breaks down how to create an effective personal brand which you should use to support your client work. (This article focuses on “entrepreneurs”. If you’re a freelancer then you’re an entrepreneur regardless of if you’re in client service or have a SaaS app).
Ryan Battles’ message is solid – be authentic, transparent and helpful via social media to improve your social brand and your following, and therefore credibility will increase.
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