Being a freelancer can be exhilarating. The freedom to set your own hours, choose your projects, and work from anywhere is liberating. But one fear haunts every freelancer: the fear of not earning enough.
The Fear Factor
Picture this: You’re sipping your morning coffee, checking your bank balance, and suddenly, panic sets in. “What if I don’t make enough this month?” It’s a fear that strikes even the most seasoned freelancers. But what do you do?
1. Know Your Worth
- Action: Calculate your ideal monthly income. Consider your living expenses, business costs, and desired savings.
- Example: If you need £2,500 per month to cover everything, aim for projects that pay at least that amount.
2. Diversify Your Income Streams
- Action: Don’t rely solely on one client or project. Explore different avenues.
- Example: Offer freelance writing, consulting, and maybe even teach a workshop on the side.
3. Set Clear Payment Terms
- Action: Be crystal clear about payment terms with clients.
- Example: Invoice promptly, set late payment fees, and follow up politely but firmly.
4. Network Like a Pro
- Action: Attend industry events, join online forums, and connect with potential clients.
- Example: Strike up conversations, exchange business cards, and build relationships.
5. Upsell and Cross-Sell
- Action: When you complete a project, offer additional services.
- Example: If you design a website, propose ongoing maintenance or SEO services.
6. Track Your Time
- Action: Use time-tracking tools to monitor your work hours.
- Example: Knowing how long tasks take helps you price projects accurately.
7. Embrace the Power of Retainers
- Action: Convince clients to sign retainer agreements.
- Example: Offer a fixed monthly fee for ongoing services (e.g., social media management).
8. Invest in Self-Improvement
- Action: Learn new skills to expand your service offerings.
- Example: Take an online course in digital marketing or graphic design.
And most importantly…
9. Celebrate Small Wins
- Action: Acknowledge every payment received.
- Example: Treat yourself to a fancy coffee or a small indulgence.
I have been there – I am still there some months! But by implementing these action items and staying informed, you’ll banish the fear of not earning enough. Remember, every month is a fresh opportunity to thrive. So conquer that fear, and let your freelance journey be as delightful as a well-brewed cup of tea! 
- Some interesting stats:
There are approximately 2.2 million freelancers working in the UK. - Freelancers in the UK make an average of £13.77 per hour
- In the third quarter of 2022, the average quarterly earnings for freelance workers in the United Kingdom were £25,887
- The overall economic contribution from freelancers in the UK was approximately £139 billion in 2022
- The UK is the second-fastest-growing freelance market.
- 16% of freelancers in the UK are mothers, balancing work and family life.
- 39% of freelancers work in associate and technical occupations
Sources:
bing.com, statista.com, statista.com, financesonline.com, dontdisappoint.me.uk
About Me
With over 25 years of business experience, I specialise in providing streamlining, tech, and administrative support to small business owners. I’m a bit of a nerd and love revamping complicated processes into smooth, slick operations.
My services include general administration, bookkeeping, email management, minute-taking, social community management, and back-office process optimisation. I’m AML supervised and committed to streamlining your business operations.
Feel free to contact me for assistance! 
