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Managing your money as a freelancer

I have been freelancing for almost 7 years now and I had to learn on the job. The many articles I read before and while on the freelancing journey did give me tips and tricks to help me as a freelancer, but none of them really prepared me for how to manage my money as a freelancer. When it comes to managing your money as a freelancer, you need to have your numbers head screwed on tight and quick or risk losing the plot. The life of a business owner can be a rollercoaster. You have to be prepared for the busy times as well as the not so busy times.

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Here are a few tips that should help in managing your money as a freelancer –

Set your prices

One of the first things I did was to set my prices. I have a fixed price for every service I offer. That way I don’t have to research or think about what price to give a client for a job. I know what I am worth and I do market research every now and again to make sure my prices are competitive.

Send out invoices

I know many freelancers don’t send out invoices to clients for various reasons but I always make sure my clients receive an invoice for every job. That way I have a trail of all my jobs, clients, and prices. It also makes submitting my tax returns easy since I have all the records in one place.

Take payment in advance

I like to take payment in advance where possible. That way I don’t have to chase payments (that is a job in itself). I appreciate clients that pay quickly and in advance. Going forward, I will be requesting to take more payment in advance. It saves time and effort.

Save for the rainy day

Most freelancers will know all about how busy work can be in some months and how quiet it can be in other months. I have been freelancing for a few years now and I know the pattern. My advice to not just the freelancers but every business owner is to save some money for the rainy day. Don’t spend all your earn, stash some away for when work is quiet.

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Don’t work for free

These days, I thankfully don’t have people asking me to work for free anymore. My work pays my bills and more, so working for free isn’t really an option. I know my worth and I am very quick to ignore anyone who questions it by asking me to work for free or for a ridiculous fee. I manage my money by not working for free.

At the end of the day, we are all different and we will manage our money in our own way. These are some of the ways I make it work for me. Being able to work for me for this long is a dream come true. It has completely changed my life for the better and I am grateful to be able to do all that I do. Apart from this blog which is my main source of income, I am also a Content Writer, Blogger Outreach Consultant, Social Media Manager, Blog Coach, Authour, and Vlogger.

How do you manage your money as a freelancer/business owner?

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How To Find Clients For Embroidery?

*Collaborative post.

If you have an embroidery business or if you are into applique embroidery designs for earning money, you need to find the right clients to keep your business going. But how can you find them and where can you find them?

So, before you start looking for clients, here are some of the essentials you need to make sure are fulfilled.

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Your Customers

Before finding your clients, you should know your target audience. Make a list of all your potential clients you can cater to the needs of. Know their scale of production and if it matches with yours. Once you know them well, it will become easier to find them.

Your Niche

It is also important to place your embroidery business in a particular niche. Establishing a niche will also help in finding the right clients and customers for your business. To know your embroidery business niche, access the type of products your business excels in, know your likely competition, and finally set your niche on the most viable one.

Your Business Website

Another thing to focus upon to find clients for your embroidery business is own a good business website. An intuitive and well-established website could help you find possible clients for your business. 

Display samples of your work in clear and high-quality photos. Don’t forget to include an About Us page and Contact Us webpage to make your probable customers reach you easily. 

Once this is set, now you got to start finding your clients. 

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Your Network

Once your niche and customers are all set and defined, it’s time to expand your network by communicating more. Build your network with the help of your existing network, make use of recommendations. Focus on building new business relations. Also, if you are willing to expand your existing network, be sufficient enough by expanding your working base, tools, and capacity to produce more. 

You can even expand your network by fulfilling more needs for your existing clients, communicating with them daily, and being social in all ways possible. 

Spread A Word Within Your Circle

The closest and cheapest way to find clients is within your circle. Spread a word about your embroidery business within your family, relatives, close friends, and other acquaintances.  They may not be your direct client but can turn as a word of mouth advertisers and promotors. 

Search Geographically

To start with, visit the nearest shop or business that would be interested in your products. Visit the nearby boutiques, souvenir shops, and other related businesses that could accept your first order. Find retail shops to start your embroidery business with. Remember to know your capacity and their needs before finalizing the deal. 

Expand Further To Big Businesses

Next, move on to other clients that could be your probable customers like salons, dance studios, hotels, restaurants, and the like. Yes, these could be your clients and you can seek the opportunity of your embroidery business in them. The possible products you can help them with are their customized towels, logo towels, embroidered costumes, and much more. 

List down your possible embroidery products related to every industry to widen your approach. Present the list to your probable clients to make them easier for them to choose from them. 

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List Your Business Online 

Another trendy method to gain clients for your embroidery business is through listing your business on online platforms like Etsy, Garmeo, and Artfire. With so many social media platforms, it is rather easy to provide the exposure that your business needs to get started. 

By adopting some right tactics, you can put your products well on these online services, get offers, and accept and reject them according to your need. 

Attending Trade And Craft Shows

Always be ready to put your products on sale on trade and craft shows. There is not a place where craft and trade shows don’t take place. Be at the forefront of these shows, display the best of your work, and gain the needed leverage your embroidery business needs through such shows. 

Attending local community craft fairs is the best for building a network. Try to lure your customers by offering them discounts at such events. Also, if it doesn’t hurt your pocket, send out a few freebies to make people remember you. 

There were some of the ways you can find a client for your embroidery business. Moreover, as embroidering is a creative job, you can always find great clients by increasing the list of your product you deal in. Go creative and find the new realms of embroidery designing, present your product to your potential business partners. Lastly, working in a partnership is another way to hype your business.

 

Self employment – Charge what you deserve

I have been self employed for about 6 years now and I have seen it all. The clients that never pay up until you chase them and those that wait until the very last day to pay. I have seen clients that want all for nothing. They are happy to pay you peanuts and keep all the profits for themselves. Earning money as a self employed person is hard work. Don’t believe the stories that tell you it is easy to earn a living from home because it is far from easy. Trust me, I have 6 plus years worth of experience to know that being a self employed person, running your own business from home is hard. Which is why you should charge what you deserve.

 

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My reason for doing this

I found myself working from home full-time after my twins were born. Going back to my old job was not an option. I hated it and the commute and income won’t be worth the hassle at all, so I ended up focusing on making money online. It worked! I started earning a full time living wage from this blog and my freelance jobs (mainly copywriting and blogger outreach). It wasn’t easy. I had to work every free hour I got and I hardly slept all those years, but the money started coming in.

It got easier as the twins got older and started pre school and now primary school. I have more free time to focus on my hustle and even throw in studying for a whole new degree. However, the journey has been a rollercoaster ride and has taught me a lot. What kept me going all these years was my “why”. To be a happy self employed person, you have to have a “why” because you will need to remember the reason when the days get tough.

 

Which is why I charge what I deserve

I love what I do and the opportunities it brings are too numerous to mention but I also have my own fair share of dealing with people who don’t want to pay the right amount for what they want. A really funny email came in yesterday and it was the lowest fee I have ever been offered and it make me giggle. Obviously I didn’t bother replying but I am pleased with how far I have come because on a good day I would have been fuming at the audacity of the email.

My rates are my rates. I charge what I deserve and I don’t apologise for it. I believe there is value in my work and I would now let anyone take advantage of me by accepting low fees just because that is what they are willing to pay. The first rule when it comes to self employment or running your business is to charge what you deserve. There is enough to go around for everyone if people stop being greedy and I believe to unblock the flow of abundance, we need to charge the right amount of money. There will always be people who will happily pay your rates once you are comfortable asking for it.

 

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When it comes to self employment, the pros outweigh the cons massively for me. Which is why I am still doing what I do full-time for now. It is great to be able to work from home. I won’t charge that for anything now. Are you self employed? Do you feel you charge what you deserve? Do drop your comments in the comment section below.

Thanks for reading, sharing, commenting and liking. Have a good one.

 

 

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