Northwestern Mutual: Tips for Freelancers Expanding Their Clientele

Freelancing can give professionals the freedom to set their own schedules, choose their projects, and increase their income potential. Full-time freelancers are also solely responsible for finding their own work, paying themselves, providing benefits, and saving for retirement.

Here are some tips to help freelancers get more clients and grow their businesses so that they can earn a consistent and plentiful income.

Showcase a body of work

For a freelance business to be successful, potential clients must know that a) the freelancer exists, b) what they do, and c) how well they do it. The first step in marketing their talent is to create a portfolio of their work. Freelancers can show this portfolio at in person, on social media platforms, or anywhere else prospective clients might be found.

Freelancers can also set up a website where potential clients can find them. They can include examples of recent projects, skills and services provided, types of clients served, testimonials from satisfied customers, and anything else a client might find useful. At the very least, freelancers can promote their website by talking about it and including a link to it in the signature of every email and on related social media platforms. They should also keep their portfolio and website updated in order to show the world that their skills and experience are relevant to the current market.

Network and build authority

Another form of marketing that’s key for growing a freelance business is networking. Networking opportunities for freelancers include attending industry events, joining professional groups, and connecting with other professionals in their fields. Building authority within their industry can also help freelancers attract new clients, and they should consider writing blog posts or articles for industry publications and websites, speaking at industry events, or creating educational resources that offer value to the public. Freelancers can also promote these things on their websites to further increase their authority in their field.

Keep financial goals in mind

Freelancing is usually a one-person operation. It can be difficult to focus on growth while also getting the job done. A personal “why,” such as wanting more time with family, is often used as motivator. Another way that freelancers hold themselves accountable is by setting financial goals and tracking their progress.

Freelancers might choose to work toward goals that can help them over time, such as saving up for a down payment on a house or getting a permanent life insurance policy like whole life insurance or universal life insurance. Permanent life insurance comes with a guaranteed death benefit and cash value that freelancers can borrow against for any reason. This can come in handy in many situations, including when income fluctuates.

Consider upskilling

Freelancers who upskill prioritize improving and learning skills. By taking courses, attending workshops, or pursuing certifications, freelancers can stay up-to-date on the latest trends and technologies, making them more valuable to their clients and potentially opening them up to new ones in other industries.

Have a lot of Irons in the fire

Successful freelancers have a consistent income that meets their needs. To accomplish this, they need a steady flow of projects coming in. Serving multiple clients ensures that if one falls through, there are others to fall back on. As a result, a freelancer should always be thinking about future projects and expanding their client base. With that said, it’s equally important for them to understand their capacity, as well as how to manage time and set effective boundaries with their clients. This allows them to continue attracting new projects while delivering high-quality work, and avoiding burnout.

Utilizing the cash value through policy loans, surrenders, or cash withdrawals will reduce the death benefit; and may necessitate greater outlay than anticipated and/or result in an unexpected taxable event.

Source: Northwestern Mutual

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) and its subsidiaries in Milwaukee, WI.