5 important tips I learnt in 5 years of freelancing

I got my first start as a freelancer in 2019, just before the pandemic. 

At first, I thought I was living the dream, earning around $70 every two weeks from an SEO agency. But soon, I realized I was overworked and underpaid.

I took a step back to audit my entire business. Nothing was spared. Not even my ego.

Five years and many lessons later, here are the five golden tips that helped me cut stress and become a better-paid freelancer. 

Freelance Tip #1 – Invest In Your Skill 

You must be exceptional at what you do. Prospects can tell if you’re not as skilled as you claim to be. It shows in your samples and confidence.

But unlike employees, freelancers don’t get training or perks. You have to invest in yourself, by yourself.

For example, I spent three years as a student journalist before freelancing as an SEO writer. Later, I taught myself video editing over two years to add that service.

I watched hours of tutorials and fiddled with video editing software. I put in the reps with every new client. My income grew, too.

Today, I can manage projects across both written and video content, thanks to the time I invested in my skills before going pro.

As a freelancer, you’re your own boss, so create a system to master your skill and keep learning.

Here’s the learning system that works for me:

• I research extensively on every niche or field of interest to me.
• I highlight up to 5 key learning sources from my research.
• I start learning the basics of my new niche and skill up daily.

Pro Tip: Use your favorite AI tool to develop a custom learning curriculum for you, and be sure to practice daily.

Freelance Tip #2 – Be Deliberate About Bookkeeping

At first, I thought every dollar I earned was pure profit. 

Wrong. 

I wasn’t accounting for costs like data, power, and reinvestment.

Here’s what helped me:

• Paying myself a salary from every project, even if small.
• Tracking all business expenses and running costs.
• Deciding what to save and what to reinvest.

Some financial advisers recommend rules like the 50/30/20, but I suggest you find what fits your business best.

Keep a separate digital file or journal to track your finances. This record will guide your pricing, which we’ll discuss in the next tip.

Freelance Tip #3 – Charge What Makes You Smile

Being able to set your rates without salary caps is one of the perks of being a freelancer.

But many new freelancers undercharge out of kindness or fear.

According to Myron Golden, “If whatever you are charging your clients doesn’t make you smile, then you are charging too low.”

Here’s what I do differently:

• Set clear earning goals on a monthly, quarterly, or yearly basis.  
• Set your prices before clients approach you.
• No bargains. Target customers who can afford my services.

Keeping track of your payments from past projects will help you determine if your pricing is right or needs to be reviewed. Use this freelance writing rate calculator to find out what you should charge to meet your earning goals.

Freelance Tip #4 – Work From Home (If You Can!)

For most of my freelancing years, I commuted to shared workspaces instead of working from home because:

• I didn’t have steady power and internet
• I couldn’t work without distractions
• I was overworked from not being able to set clear work hours

This cost me a lot of time and energy. 

If this is you right now, save up to create your ideal home office. It’s worth the investment as you’ll spend more time working and less time commuting. Plus, you won’t dread the long ride home. 

You can still take occasional breaks to get outside and disconnect when needed.

Freelance Tip #5 – Make Your Clients Accountable

Freelancing is a two-way street. If you deliver your work on time, clients should pay you on time.

With time, I have discovered that when you do not communicate your expected payment terms, your clients may default.

Also, clients without a brand to protect may try to scam you by promising full payments only after service delivery.

Here’s how I protect myself:

• Using contracts and invoices with clear project and payment terms.
• Asking for 50-60% upfront.
• Only making exceptions for trustworthy big brands that I can hold accountable in the event of a default.

Final Takeaway

If you need to enrol for a course to upskill, or you need to start planning how to set up a home office. Start making that change today, no matter how small.

Don’t stress about hitting big income goals overnight. Even I am still working on mine. 

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