How to 10x your income as a freelancer
Get paid for results, not how many hours it takes.
Starting as a freelancer can be difficult for two reasons, you don’t have any clients, and you think you can’t get paid much.
The way for us to know if we’re getting paid enough is to divide the total amount paid by how many hours it took us to get the job done.
The thing is, there is a limit to it or more like a mental barrier.
We think that we shouldn’t earn more than $x/hr and it’s great like that because it never happened before.
While this thinking could be great in the beginning as you don’t end up working for $5/hr, it can quickly become a true barrier when you want to grow and earn more.
One technique you can do to overcome that is to get paid to think, as a strategist, and not be seen as just an order-taker.
Getting paid to think has no limit and is unique to everybody, mostly because of the experience that no one else has.
But this article won’t be about this first option, it will be on the second one which is to get paid based on results.
Now I can hear many people saying that the downside to this option is that you could spend years working on a single project since the only thing that matters is the result.
Yes, that’s true.
Which is why you can get paid way, way more for that.
Here is how you can do it:
- Audit your potential client and learn more about his problem and what he thinks is the solution to it
- Ask him how much this problem is costing him
- Find out how much he is ready to invest in order for the problem to be solved
- Make sure to know what’s stopping him from potentially moving forward with you
- Exactly do what he said, for how much you think the problem is worth
For example:
If a restaurant is running ads online to attract new customers but the ads bring in enough leads.
The restaurant will hire you to bring in more leads, a specific amount.
The owner tells you that they could make an extra $5,000 every month in extra revenues from those new leads.
Now you can tell the owner how much you think the problem is worth solving for you. It could be $5,000, $50,000, or even $500,000.
For the latter investment cost, you could spend 2 years getting to the specific amount of leads required by the restaurant owner and still making $250,000/year.
Where if you simply worked per hour I’m sure you would need to have many projects going on at the same time to reach this yearly income.
This is just a simple example to show you how you can earn more by getting paid for the results the client wants instead of wanting a specific hourly rate.
This is a strategy that you can apply starting today in order to get bigger results and have the leverage to choose who you really want to work with.
Get paid for results, not how many hours it takes.
