idealmike
Level X3
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This is Question 7 of my 10 part series on 10 Questions to Ask Yourself Before Becoming a Full Time Freelancer.
How Much Money Can I Make Freelancing?
If you have skills and experience. And you are selling freelance services that have very little outlay and your profit margin is good. And you're selling services and things to people that are selling for big amounts like $100+ or more. And you are selling a lot of them. Then there is no real limit and cap on how much you can earn. Some freelancers are earning 5x more than their boring day job wage used to be. Some more than that. Most can earn double or even triple that with a lot of success.
However, one thing you can do is do a little research first into whether or not you can make money as a freelancer. Whether or not you can make money from the skills and abilities or talents you have as a freelancer. To find out how much those other freelancers who have the same skills as you are earning.
And one great way to do that is to use question and answer sites like Quora and Yahoo Answers. For example. One could search on Quora for "how much money do SEO freelancers make?" Here you can find quite a few very niche questions asked with some good answers in them to get an idea on that. You could search something like "how much money do writer freelancers make?". Replacing "writer" with whatever your skill is. You can do the same thing for Yahoo answers and you can find reports and white papers and things too in the answers. There is sometimes some fluff and more on YA than Quora but generally Quora is fluff free so it's why I recommend/mention it for this reason/purpose.
And of course. The SEOClerks Community Discussions as well! An Amazing place to ask such questions based on your skills. This is because there are many fully skilled and experienced veteran freelancers here who love to share their knowledge and tips to people that ask intelligent questions like this!
But you should think about and add up on paper or in your calculator, how much money you'll need each month to pay for the things you need like rent, mortgage, bills, shopping, broad band, Netflix, incidentals etc. Will what you earn from your freelancing be enough to pay for these bills and have some left over.
Or will there be too much month left at the end of the money?
The simple reality is, there are many people out there that don't have many life skills let alone skills in something else. And don't really qualify as a role model citizen or have anything about them that makes them some what interesting and even popular. But they do have some skills and are fast learners, determined and confident and can get paid for those skills by someone who doesn't want to to it by their self. Which is a lot of people as it turns out.
Doing The Math
So that was the explanation and here's the math because I like doing the math part sometimes don't you? After all, freelancing is basically chasing numbers. So much so they could rename it chasing numbers. Because you're chasing the paper aren't you. And that's the whole reason you've stuck into reading this up to now isn't it? Good on you! You're not a skimmer! Skimmers only get the fat. You're going to get the meat and that's a skill that qualifies you to be put into the "Will possibly go far" and the "one to watch out for" box.
But let's say that you need to bring in around $1000 a month. Enough to pay all your bills and have some left over to go towards a holiday or a new computer so you can work faster and better. And then let's say you sell a service of some sort as a freelancer for $50. You would need to sell this service 10 times a month to earn your $1000.
Ask yourself: Could I sell my service 10 times a month?
That's roughly 1 sale for every 3 days. Sell a service for $10 and you'd need to sell it 100 times of course to earn $1000. But you might sell more of these than you might your more expensive service. But say you sold 3 services per day every day for one month from $10 to $50. That means you could earn anywhere from $100-3000 per month.
These numbers aren't that hard to reach if you can do it either. Become bigger, sell more services, and you could earn even more. To put it into perspective for you, some of the top freelancers on SEOClerks earn up to $25000 per month. However, this is because they have a lot of sales/clients and that means they are ultra busy!
You have to ask yourself then if you can keep up with the demand of all those orders?
You may have to outsource, and this carries its own risks, but can you do it all on your own? If not, then you really need to find some good other freelancers that you can outsource some of your work to otherwise you're going to be later delivering orders and that will result in upset clients and a dwindling of sales and revenue!
What about our other freelancers here? What can you tell the rookie freelancers out there about how much money they can make?
What would you tell them if they asked you this question personally?
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Webguy2024
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