Stanislava Tsvetanova, Author at Freelancelifemagazine https://freelancelifemagazine.com/author/stanislava-tsvetanova/ News and resources for freelancers Sun, 28 May 2023 15:41:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://freelancelifemagazine.com/wp-content/uploads/cropped-favicon-32x32.jpg Stanislava Tsvetanova, Author at Freelancelifemagazine https://freelancelifemagazine.com/author/stanislava-tsvetanova/ 32 32 From Undervalued to In-Demand: Mastering the Art of Raising Your Freelance Rates and Upselling Your Existing Customers https://freelancelifemagazine.com/from-undervalued-to-in-demand-mastering-the-art-of-raising-your-freelance-rates-and-upselling-your-existing-customers/ Sun, 28 May 2023 07:47:38 +0000 https://freelancelifemagazine.com/?p=35529 Are you a freelancer who’s been in the game for a while and is looking to raise your rates? It’s a tricky topic that can leave even the most seasoned freelancer feeling uneasy. Will a higher rate drive off potential clients and result in fewer jobs? How can you raise your rates skillfully? These are… Continue reading From Undervalued to In-Demand: Mastering the Art of Raising Your Freelance Rates and Upselling Your Existing Customers

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Are you a freelancer who’s been in the game for a while and is looking to raise your rates? It’s a tricky topic that can leave even the most seasoned freelancer feeling uneasy. Will a higher rate drive off potential clients and result in fewer jobs? How can you raise your rates skillfully? These are questions that require answers now more than ever in a world of economic instability, where the freelancing market is flooded with talent and available jobs are becoming scarce.

However, it’s important to remember that as you gain more expertise in your field and provide value to your clients, it’s only natural to raise your rates accordingly. In fact, not doing so can actually be harmful to your business in the long run. So, let’s dive into some tips and tricks for raising your rates as a freelancer in a way that’s both strategic and skillful.

How to Raise Your Freelance Rates by Increasing the Value You Provide

As a freelancer, it’s important to understand that the value you provide is the foundation of your business. When you offer a service that is truly valuable, you have the power to increase your rates and attract more high-paying clients.

 But how can you increase the value of your offer? One way is by understanding what your clients truly want and how your offering can help them achieve their dream outcome. For example, if you’re a copywriter running a successful blog, you can showcase your experience and highlight the hundreds of clients you’ve helped to get more clients through their blog. Providing guarantees and proofs can increase your clients’ perceived likelihood of achievement of their dream outcome – having a blog that attracts thousands of clients monthly.

It’s also important to decrease the perceived delay and effort on the part of the client in reaching their dream outcome, by providing short-term wins and emotional experiences that help them achieve their long-term goals.

Doing these simple steps, you can be pro-active in understanding and increasing the value you provide. You can skillfully raise your freelance rates and build a successful business for the long-term because you will be getting your clients to decide based on value and not on price.

Crafting a High-paid Offer: Solving All Your Client’s Problems

Have you ever had trouble converting potential clients? It might be because your offer isn’t solving all of their problems. To craft a high-paid offer, you need to understand your client’s needs and offer solutions that truly solve their problems. One way to stand out from the crowd is to provide a comprehensive package that addresses all of their concerns.

For example, let’s take Steven, a freelance graphic designer who wants to increase his rates. He realized that many of his potential clients were looking for a designer who could not only create beautiful designs but also understand their business needs and provide branding advice.

By including these additional services in his offer, John increased his rates and attracted more high-paying clients. So, take the time to understand your client’s problems and offer solutions that truly meet their needs to craft a high-paid offer that stands out from the rest.

Another example, let’s say your client wants to achieve a blog with XXX visits per month. To help them achieve this goal, you can offer a comprehensive package that includes not only blog writing but also search engine optimization and social media promotion.

And why not give them a little something extra, like a customized social media strategy or a content calendar to help them stay organized?

By providing these additional services, you not only solve all of your client’s problems but also create a memorable experience that keeps them coming back for more. So, define your client’s desired outcome and give them something extra to craft a high-paid offer that stands out from the rest.

Don’t Be a Mind Reader: Define the Desired Outcome of Your Clients

As a freelancer, understanding what your client needs is crucial to your success. But don’t worry, you don’t have to be a mind reader! By taking the time to define the desired outcome of your clients, you can offer a package that truly meets their needs.

 It’s important to have a clear vision of your target audience, including their pain points, goals, and values. For example, if you’re a copywriter targeting small business owners, you may want to offer a package that includes not only copywriting but also marketing strategy and social media management.

By understanding the desired outcome of your client, you can create a comprehensive package that solves all their problems and exceeds their expectations.

And let’s be honest, if you’re a mind reader, you’re in the wrong business! So, take the time to understand your clients’ needs and create a high-paid offer that truly meets their expectations.

Identifying ALL the Issues Their Clients Might Have

If you are doing freelancing but you have never stopped to annalize deeply your client’s problems and needs, you are playing whack-a-mole. So, are you tired of doing “something” and praying it will work? Do you want to become the superhero your clients need?

Well, step right up and learn how to identify ALL the issues your clients might have! It’s simple, really.

 “Just make a list of every single problem you can think of, and then brainstorm some more!”

Think about the pain points your client might have. Let`s pick up the blog client example. From the technical skills required to design and maintain a blog, to the time it takes to set up and launch, there are myriads of challenges the client might have. He might have no clue about the platforms and tools needed, as well as the vision and direction of the blog. And let’s not forget about SEO – can be confusing and daunting for many. 

By understanding your client’s perspective and getting deep into their problems, you’ll be better equipped to offer a comprehensive package that solves all their issues. So, put on your superhero cape and start identifying those issues like a pro!

Transforming Problems into Solutions: How to Create a WOW Offer Your Clients Can’t Resist!

Now that you’ve identified ALL the issues your clients might have, it’s time to identify the solutions they’re looking for!

How can you create a WOW offer like this? First, pick up the list you created with all the issues. Transform each problem to a solution. This means you need to come up with a solution for every problem you identified earlier. Finally, package your solutions into a high value offer that’s hard to resist. Your clients should ask themselves, “I get all these solutions for only that?”. Of course, you can do this with confidence only when you have the skills to fulfill what you promise.

Surefire Ways to Boost Your Freelancer Skills and Gain Confidence in Your High-Paid Offer

Expertise does not come out of thin air. You need to back it up with experience and knowledge.

Now, it’s time to focus on improving your skills so you can be more confident in your high-paid offer. Remember, confidence is key when presenting your offer to potential clients. When you are confident in your skills, then you can be converting more clients.

Don’t be afraid to invest in your skills and education to become an expert in your field. Take David, for example. He was a struggling freelance writer, barely making ends meet until he decided to invest in a copywriting course. After improving his skills and refining his offer, he was able to attract high-paying clients and grow his business exponentially.

FACT: Did you know that according to a study, freelancers who invest in their skills and education earn 50% more than those who don’t? So, take the time to improve your skills, and it will pay off in the long run.

What are some ways you can start improving your skills right away? The practice shows that these are working for many freelancers out-there:

TIPS:

  • Attend industry events and webinars
  • Read books and articles in your field
  • Join online forums and communities
  • Take online courses and certifications
  • Practice, practice, practice
  • Seek feedback and constructive criticism
  • Stay up-to-date on the latest trends and technologies
  • Collaborate with other freelancers and professionals
  • Build a strong network and client base
  • Never stop learning and growing!

Letting Your Freelancer Clients Know About Your Rate Increase

If you have already decided to upgrade your offer, it is fine for the new coming clients. But what about those that are already with you? Informing them about a rate increase can be daunting. But don’t worry, there are ways to approach the topic with confidence and professionalism.

Consider these Tips:

Give clients ample notice: It’s important to give your clients enough notice about a rate increase. You don’t want to spring it on them at the last minute and risk damaging your professional relationship. A good rule of thumb is to give at least a month’s notice. But you can evaluate each situation individually

Explain the reasoning: When informing your clients about a rate increase, it’s important to explain the reasoning behind it. Whether it’s due to an increase in demand for your services, a need to cover rising expenses, or simply to ensure you’re being paid fairly for your time, being transparent with your clients can help them understand and accept the increase.

Be open to negotiation: Some clients may push back against a rate increase, and that’s okay. Be open to negotiation and willing to compromise if it means retaining their business. Consider offering a discount for a larger project or agreeing to a gradual increase over time.

In conclusion:

Just like David, who started out as a novice freelancer and quickly gained success by continuously improving his skills, and the value he is providing to his clients, you too can raise your rates confidently and skillfully, as you consider it right to do so. So, get started today and watch your freelance career soar!

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From Freelancer to Entrepreneur – When and Why? https://freelancelifemagazine.com/from-freelancer-to-entrepreneur-when-and-why/ Thu, 13 Apr 2023 15:22:35 +0000 https://freelancelifemagazine.com/?p=34474 As a freelancer, you have the skills and expertise to provide services to clients. However, as an entrepreneur, you can leverage those skills to build a scalable business and create new opportunities for growth, expansion, and passive income. Becoming an entrepreneur can help you take control of your financial future and achieve your dreams.

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Freelancing is a huge step for many people. It means transitioning from where you feel very safe at your 8 to 5 job, and all is secured for you, to where it feels more like doing business. You need to secure your living, find your clients, arrange the payment of taxes and social insurance, and keep improving your skills and knowledge so that you can keep up with your market, which is ever-evolving. when you master all these good, you might feel like a superhero!

So Why Transitioning from being a Freelancer to Entrepreneur?

There is one danger when you are good at all these, juggling all the tasks and improving your abilities to secure new contracts, and the clients start flooding your door or mailbox. And that is: to remain permanently at the same level.

Yes, you are a good freelancer and doing great, but freelancing is still another way of selling time for money. You can become more time-efficient and learn to do more jobs in less time, but in the end, there is a limit to the number of clients you can take on as an individual. And this is a fact that you learn with experience.

Increase in your abundance

When freelancing and working as an individual, you can only perform that much work per month and usually have that much money per month. When you own a company, you typically have a team and set systems to work for you. These systems work for you even when you are sleeping or not around. If we take an example of an online shop or course, they can generate income regardless of the time of the day. Sure, it takes some time and effort to set this in place, but the results are great.

A step to your development and growth

When you are transitioning from being a freelancer to being an entrepreneur, you are on a steep learning curve. You are learning and experimenting, and you develop and grow in this process. Being an entrepreneur allows you to develop good qualities such as perseverance, consistency, positivity, generosity, diligence, discipline, and patience. By enduring challenges and never giving up, you learn how to achieve just any goal you set your mind on. And this feels great from the inside. What matters most, you are bringing so much more value.

The Value you are Bringing to the World

If you are already very successful freelancer, it is tempting to remain in your comfort zone.  You are financially sound; why bother to do more than that? It seems tempting to stay there. Yet, love can bring you out of this. Just think of the benefit you can get by expanding your activities and sharing your knowledge and skills with the world.

Being an entrepreneur means having a team you can coach and mentor. You can share with them all the good practices that make you successful so they, too, can benefit. Together with them, you can expand to more individuals through your products and services, which will help hundreds or thousands of individuals, fulfilling their needs and contributing to their lives in a meaningful way.

Regardless of your industry or niche, with few exceptions, all professions bring value to society and individuals. Focus on this great value will bring courage and motivation to take the next step!

How to prepare yourself for transitioning from Freelancer to Entrepreneur?

When transitioning, you must take small steps and prepare yourself well. Here are some points that you need to do before moving to full business ownership.

You’ll find six things to do when moving beyond the freelancer phase to full business ownership.

1. Know your Market

When you want to start a new business, you must thoroughly know the people you will be addressing.

The best is to create a persona or ideal client, representing all your potential clients. What are their age group, sex, and characteristics? What needs do they have that you will be addressing?

What problem or challenge do you want to resolve for this client?

By performing market research, you will know your clients better, and by knowing them,     you will be able to deliver better service to them.

2. What is your Value?

Once you know your niche, your clients, and their challenges, you need to brainstorm what solutions you will be bringing to them.

Your product or service should resolve a challenge or improve their lives. Think about what you will focus on. Brainstorm it with your team if you have one. Think in perspective of 5, 10, and 15 years ahead. Will this product and service be beneficial for them in the future?

Some niches which there is a lot of need in this modern Post-COVID world right now:

–  Nutrition and health knowledge and awareness
–  Sustainability and renewable resources
–  Financial Stability and financial health

3. Don`t stop freelancing and keep finances in check

Quitting your freelancing to focus on your business idea is only wise if you have substantial savings or other stable income sources.

You can integrate your freelancing into building your business in the beginning. When the wheels start rolling, and your business can sustain itself, you can diminish freelancing.

But do this gradually and in stages. Statistics show that more than 50% of new businesses fail during the first five years. So build your business, be positive, and be very rational and practical about the cash flow and the sources of income.

You can educate yourself about finances and business management so that you are clear of the tasks and challenges of successful financial planning.

4. Have a Good Financial Runway

When things start moving and your business starts producing revenue, it is essential to move with caution again. You need to be prepared for the bad times.

Even if the sales are doing great and your customers keep buying your products, you must expect it to be different from this.

some months will go without such big sales, and you need to be prepared to be able to pay all the bills, the operations, the employees, and so on. Having savings for at least 6 to 12 months will give you a buffer period and a good foundation for more rocky periods.

A well-documented budget will help you evaluate your monthly expenses and predict future costs.

From Freelancer to Entrepreneur - When and Why?

5. Develop your Networking Skills

Freelancing is something you can do on your own. Still, you need to source for clients, but it is only to a certain extent. Running a business expands a network of partners and clients.

Start with your existing connections – your friends and relatives. Reach out to them and tell them what you are doing. Ask them for suggestions and recommendations or if they would like to contribute to your project in any way. In return, offer your help and assistance.

Another great way of building a solid network is by attending workshops and events with people with similar interests. Make is a routine if you really want to develop a professional edge.

6. Make your systems work for you

When starting in your niche, you need to do everything from scratch. Yet, great business owners focus primarily on building solid systems that will eventually work for you.

Evaluate the things that you are doing daily and which things are not contributing to your success. Focus on those things that are creating value for your company.

Think for the future. How do you imagine your life and the life of your business then? How do you envision it all? Work backward to determine the areas you want to develop and the systems and technology you need to implement.

Be ready to make changes to your systems. Do not get stuck or “married” to one software or program. Sometimes in business, the change is so quick that if you do not move along with the flow of your industry, you can leave behind very fast.

In conclusion,

Being a business owner is a great responsibility and it requires a greater level of initiative than being just a freelancer. You need to educate yourself, grow, and take the courage to act swiftly and with decidedness. You need to improve your level of priority management, as an entrepreneur has a list of things to do that is larger than what he can possibly do. 

Sure, it is an effort, but the happiness and satisfaction you would enjoy are far greater than that of remaining on the same level of freelancing. Make your plan, create your vision, mission, and objectives, and put them into action!

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How to Take Your Freelancing Career to the Next Level https://freelancelifemagazine.com/how-to-take-your-freelancing-career-to-the-next-level/ Mon, 06 Mar 2023 16:54:20 +0000 https://freelancelifemagazine.com/?p=32546 Being a freelancer makes you think in terms of somebody doing a job. But actually, you need to think of your activity in terms of business.

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When you first start freelancing, your primary concern might be getting going, finding some clients, and making ends meet.

However, your freelancing business should bring you more than food on the table and paid bills. It should be able to provide financial stability for you and your family.

You must plan strategically and move forward to take your freelancer to progress in your career and activities. This article will give you five valuable ideas to bring your freelancing career to the next level.

Think in Terms of Business

Being a freelancer makes you think in terms of somebody doing a job. But actually, you need to think of your activity in terms of organization. Register a company to pay your taxes more consistently.

Maybe, in the beginning, it is only you running the whole show.

But you need to be aware of the different hats you are wearing. And how much time, energy, and resources each step takes you.

If you are a freelance copywriter, you spend some time writing articles for your clients. But you also spend time looking for clients, writing proposals, educating yourself on the newest trends, managing your bills and software tools, taking care of the accounting of your business, and so on.

This awareness will help you develop a scale and growth mindset crucial for taking your freelance business to the next step.

How to Take Your Freelancing Career to the Next Level

Look at the bigger picture

When we started freelancing, we were very concerned about many little things. What is grammar and spelling software better to use for our texts? How to improve my copywriting (other skills).

However, if you want to progress, you must have more than short-term goals. You need to have middle-term and long-term goals for your future career.

It is good to make a vision board or a clear vision of your future goals and see yourself as living this reality. Do you see yourself as a successful entrepreneur in the freelancing field in your specific niche?

When you have a clear mental picture of your future self, perform an honest skills gap analysis to estimate what is lacking now regarding knowledge, skills, and attitude.

Then you need to set reasonable goals for yourself and improve on each one of these points.

When you achieve a goal or a milestone, measure your progress and do a gap analysis again.

Making your market positioning and branding

Your professional presence is what makes the first impression on the client. Ensure your profile picture, website, and materials are well-cared for and polished.

Craft an image of yourself as an expert in your field and stand faithful to this image.

This will bring you the respect of your clients, and you will see new clients at your door.

It is a very professional move to have a website. A website is your real estate online. Write about your professional services and how you can contribute to your clients. Functional materials you can include on your website are a rich portfolio of your work that can testify to your skills, case studies and testimonials of your former clients, and a blog where you share valuable information about your niche.

Some ways you can use for branding are having a professional name card, document templates, a personal stamp, and images that reflect your profession and your attitude towards your clients. If you meet them in person, the way you dress and the language you use are also part of your branding, as well as your attitude and the respect you show them. You can see the results coming quickly if you are careful with these details, how you appear to your clients, and how you feel and think about them.

If you always think of how to benefit your clients, this is the best branding, as it will show in your attitude, behavior and the job done.

Increase Your Rates

When your business grows, your rates should increase as well.

When you scale your business, there will be more costs for administration, bookkeeping, and paying your staff.

You will need more clients and high-quality ones.

It would help if you had people that could appreciate your expertise and skills. Many clients are okay with paying extra for a good job done. For them, the most important is the result, not the fact that they will pay something different. 

You do not need clients negotiating over pennies as they are more likely to be dissatisfied with your work and give you a hard time under other aspects.

Improve your tools

When expanding and evolving your freelancing business, you must better your sandbox with instruments and tools. These must be functional and simplify your job instead of making it more difficult.

When something you use saves time, money, and energy, it is a good investment, and you should not think twice before taking it.

Sometimes, the cheaper options could be better for you in the long run.

Some tools that can be suitable investments:

A computer or tablet that can improve your work experience

A tool to collaborate with clients and sub-contractors, and staff

Cloud solution to facilitate the work management

Online meeting platform to save you time from offline meetings

Office equipment such as a bike desk or ergonomic chair to improve your health and performance

Expand your skills

When you are in a specific niche, you may need to look into it from a different perspective. If you are a good copywriter, consider looking into the marketing aspect and start generating content that uses proven sales strategies and can create more income for your clients.

Always think about what can benefit your clients more and bring them more money, save them time and energy, or provide them with a better process experience. This way, you can enhance your skills in a meaningful way.

How to Take Your Freelancing Career to the Next Level

Do Good Networking

Networking is excellent if you want to expand your career and take it to the next level. You can meet more than just potential clients. Networking with business owners and people that can benefit your growth is one of your most essential things. Learning from the experience of freelancers ahead of you in their career development is a critical catalyst for change and a source of inspiration.

If you cannot meet them in person, find out forums, YouTube videos, or podcasts where you can learn from them and benefit from the experience and advice given. You do not need to learn by yourself from a trial and error.

In conclusion

Taking your career to the next level is something you must experience right now in your mind. Visualize the result you desire clearly. Measure the gaps in competency and skills you need to fill. Reach out for advice from more experienced freelancers and improve your toolbox and mindtool box. Always strive to grow not only in your career but also in having a more balanced and fulfilling life.

You are freelancing to enjoy life and meaningful relationships with your loved ones, not to be a working machine that is productive 24/7.

Growing your freelancing means getting more money per hour and being able to work less and do it more meaningfully with clients that resonate with your vibration.

Write your short-term, middle, and long-term goals, and follow your strategy to accomplish them!

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How to get local clients as a freelancer https://freelancelifemagazine.com/how-to-get-local-clients-as-a-freelancer/ https://freelancelifemagazine.com/how-to-get-local-clients-as-a-freelancer/#comments Wed, 08 Feb 2023 16:52:06 +0000 https://freelancelifemagazine.com/?p=31706 Freelancing generally involves working with remote clients. But should we give up on local clients? Of course not, and here's how to find them!

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The charm of freelancing is working with clients remotely. However, getting clients from their country or local area is essential for some freelancers.

Let’s see why it is good to have local clients and what are some valuable tips on getting them.

Why Have Local Clients

It is good to explore local opportunities for several reasons.

It depends on your niche. If you are a tourist guide or an expert specialized in a specific field that is relevant in your local area but not elsewhere, it is essential to develop the skill to acquire clients locally.

It is also crucial for freelancers who prefer to interact and communicate more closely with their clients and consistently monitor their needs and project development.

It is also a waste of energy and resources to spend hours upon hours sending proposals on freelancing websites while some businesses and clients need your help right under your nose.

Ignoring such opportunities is not good, and this article will give you plenty of valuable ideas on how to get your backyard clients.

What’s Local SEO?

Local SEO is beneficial for knowing your business known in your area.

Search Engine Optimization for the Local market allows people in your area that need your specific skills to find you easily.

If you have a website to promote your freelancing business, you can use SEO strategically so that local people and companies can find you.

This way, every time a person on google search for “tourist guide in (your area),” you will have your website or freelancer profile at their fingertips.

You can optimize your website or freelancer page by selecting your keywords and location and inserting these keywords and location names in relevant places on your website pages and profile.

You can ask an expert what the best way to do that is. If you want to do it yourself, you need to consider some keywords people use to search for your service or solution.

For example, if your service is a tourist guide, some strings can be

Tourist guide New York

Tourist guide service New York

and so forth

You can research what people are searching for and what is competitive. Then use your site name and H1 titles strategically to optimize your SEO for the local market.

How to get local clients as a freelancer

Ask for Recommendations

When new in the business, you must do more than sit around and wait for your dream client to knock on your door.

You need to look for clients proactively. You might already know a group of people that can become your new freelancing clients. Make a list of these.

Friends and Family

Think of your immediate and in-law family, friends, classmates, and other social relations you have. Asking them around is an excellent way to start. They might know people that can benefit from your service and would be glad to work with you.

Suppose you feel reluctant to ask your friends and family, don’t! They are the first ones that want to see you successful and happy, so they might even put in extra effort to look for clients for you! Ask them to spread the word for you among their friends and business connections; this works like charms in most cases.

Former colleagues and bosses

You can also ask former colleagues and bosses to get more freelance projects.

If you have had good work relationships in the past, make sure you inform them that you are on the lookout for local projects. This is one of the best sources of new freelance opportunities for local freelancers. Business people usually have plenty of connections, and if they know you are a good worker, they appreciate you and would be happy to help you.

More than that, they might even hire you on the spot if they are looking for the same service you are offering.

Other acquaintances

Never miss an opportunity. Your hairdresser or the person doing repairs on your card might need a new website or a new design for their name cards. Freelancing opportunities are abounding everywhere. You can mention your service and expertise to people you meet and throw in that you are currently looking for local clients.

Leave your name card at locations you visit as the public library or an announcement board at your local hypermarket store.

How to get local clients as a freelancer

Use Social Media

Social media is a great tool to get you, new clients, locally. There are a lot of groups and forums out there that are aimed at creating meaningful business relationships. This is why you must set your goal to use this tool well.

With most social media, you can search locally for people and businesses that might benefit from our service.

Linkedin

Linkedin is a social media platform built entirely over professional connections.

Invest time and energy to create a meaningful and complete profile and update it regularly. The website is used a lot by Human Resources when they are looking for freelancing or in-house contributors.

Facebook

Facebook is great when you are looking for e new job. You can publish your professional profile and spread the word among your Facebook friends that you are looking for new projects.

Posting the exciting projects, you have completed will create proof of your expertise that might attract clients among your friends and people who know them.

Find a Facebook group focused on your industry where you can share your experience, get tips on finding clients locally, engage in a meaningful community, and promote your skills and services.

When getting professional on Facebook, you might beware of how you present yourself on social media. Make sure your pictures and the materials you publish are decent, and you won’t be embarrassed to show them to people you work with.

Instagram

If your freelancing services are related to visual design or photography, Instagram is an excellent platform to showcase your work locally.

Many professionals are using Instagram to spot potential freelancers they would communicate with.

Add relevant hashtags with your local area and your skills to maximize the possibility of being discovered by potential local clients.

Social Gathering and Networking Events

Explore your area for local networking events or other family and social gatherings. Meeting people in your industry is an excellent way to exchange experiences, create new friends and find new opportunities or freelancing in your area.

Social gatherings

You can be relaxed and straightforward at these events. If you are, you can drive people away instead of attracting them.

It would be best if you used insight and delicately mentioned what you do without seeming to be making an advertisement for your business. You need to figure out the social context and the situation. It is not appropriate to talk business at funerals, for example.

Networking events

These events are meant to do business and expand your networking clients, so it is good to speak up about your freelancing activities there.

Focusing on those specific to your industry and your niche is good. Meeting clients and colleagues at such events is beneficial for expanding your freelancing activities, as such meetings usually have a more significant impact than contacting someone online.

Find a Local Co-Working Space

Co-working spaces are a perfect environment for connecting to professionals in your area and building your network.

You can share experiences with your co-workers and refer clients to each other.

In Conclusion

These are just a few ways you can find local clients. Use your imagination and write down on a piece of paper all the ideas that come to your mind after reading this article. Then, write your goals and the due date for putting these ideas into practice. If you persevere and apply them constantly, you will shortly see the results coming.

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The Impact of AI Writing Software on the Job of a Freelance Writer https://freelancelifemagazine.com/the-impact-of-ai-writing-software-on-the-job-of-a-freelance-writer/ https://freelancelifemagazine.com/the-impact-of-ai-writing-software-on-the-job-of-a-freelance-writer/#comments Tue, 10 May 2022 16:12:46 +0000 https://freelancelifemagazine.com/?p=17548 The algorithms and functions of AI are becoming smarter and smarter, and they are applied in a vast number of digital services. So, can really machines replace human writers?

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Many professionals nowadays feel that their jobs will be taken over by AI, or artificial intelligence. The algorithms and functions of AI are becoming smarter and smarter, and they are applied in a vast number of digital services. And when it comes to content writing, many copywriters are worried about the advent of the new AI writing software. So, can really machines replace human writers?

AI has been already employed in writing, but it is still dubious whether AI could replace a professional content writer.

Let’s take a look at what is AI writing software is and how it has been employed so far.

What is AI Writing Software?

The technologies that AI Writing Software’s involve are quite complex. They use a process called deep learning that peeps into a database of millions of text samples to pull information and the repeating patterns. Ai writing software also utilizes natural language processing that aims to organize the data according to the grammar and syntax of human language. The AI writing software produces structured sentences according to the formats and algorithms they are programmed to learn.

In order to have a closer look at how AI writing Software does, let’s examine three such writing products: AI-writer, Writesonic, and Jasper.

The Impact of AI Writing Software on the Job of a Freelance Writer

AI-writer – a pioneer in the field of AI writing software

AI-Writer.com has been around since 2015 and it is one of the pioneers in the field of automated content creation. The company is based in Germany. The app is available only on the web and you can find it on AI-Writer.com. It stands out from its competitors because it is focused mainly on long-form pieces of content. 

AI-writer.com aims to automatically produce blog posts and articles. The service also offers a function that enables the rewriting of content up to 1750 words. It has a simple-to-use interface. Although the content that is generated is not structured and professionally finished, users report that it stays within the given topic and provides sentences that are grammatically correct.

However, the final output still needs human editing. What content writers that have tested this software report is that it is so time-consuming to go through the text produced, decipher it, add structure and subheadings, polish it to look and feel like a decent, readable article, that it would take them less time to write an article themselves.

The Impact of AI Writing Software on the Job of a Freelance Writer

Writesonic.com – aims to automate the creation of short marketing content

Writesonic.com offers to its users AI writing tools to write relatively short formats of business and marketing materials that can be ads, landing pages or product descriptions, and more. You can choose the template to use before you start creating your copy, according to the purpose of your materials. It also assists businesses in other ways as they offer suggestions to businesses for the growth and development of their organization.

Users of the software report that it works relatively well for short texts by producing a text that is free from grammatical errors and repetitions. But the content itself – as it is the output of the database and the algorithms that the software uses, lacks the value of substance and the organization that a human writer would create. It does not only lack the emotional element but also is lacking in logic and structure.

The Impact of AI Writing Software on the Job of a Freelance Writer

Jasper.ai – the friendly AI-writing robot

Jasper.ai has gained fame and reputation as the best AI-writing software on the market now. It has more than 50 templates to choose from – from blog posts, SEO optimized texts, social media posts, ads, email subjects, headline generators, and more. It has many helpful features and supports up to 30 different languages. Jasper is provided with its own native grammar tool, content simplifier, and a list of growing tools.

However friendly Jasper might be, he is somehow unreliable, when it comes to the exactitude of facts and figures portrayed in the content. This happens especially in some niches where specialized training is required. So, in this case too, it can be a very helpful tool, but it needs to be used by a professional content creator that knows very well his field and won’t be misguided by inconsistency in facts, logic, and organization of the text.

Wil AI-Writing software replace human copywriters?

By now the content generated by AI writing software remains no threat for professional content writers. The output generated by the software can be suitable for some product descriptions, game score results, or any other simple text that requires just the enumeration of facts. Where higher skills, creativity, and fine-tuning with the audience and the message are required the AI writing software is still failing on many levels. This demonstrates that robots have not yet approached the full set of human cognitive and creative skills.

The shortcomings of AI-writing software come into these main categories:

  • Failure to adjust to the nuances of tone
  • Inadequate use of synonyms
  • Inability to adapt to audiences and personas
  • Inability to replicate authenticity and create personalized content
  • Cannot consistently develop an idea in a logical way
  • Need to be supervised by an expert in the field

The advantages of AI-writing software

  • When supervised, it can speed up the content creation
  • Can be used effectively with simple product descriptions and texts
  • Can provide templates useful in marketing

So, AI-writing software can be useful for some commodity brands like Ali-baba and for the creation of materials according to a template for some marketing purposes. It can be a useful pool of inspiration, ideas, and suggestions for content creators, and it can speed up their work in some ways. However, they should be mindful that the automatically generated content in most of the cases needs to be edited and sometimes re-written. The bottom line is, those who wish to establish a stable relationship with their audience and provide valuable and consistent content will definitely need the help of professional human writers tuned into their vision, mission, and audience persona.

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How to stand out in a sea of freelancers https://freelancelifemagazine.com/how-to-stand-out-in-a-sea-of-freelancers/ Tue, 03 May 2022 13:49:31 +0000 https://freelancelifemagazine.com/?p=17233 Yes, the competition is high. But this does not mean that you too cannot find your place amongst the talented freelancers and stand out with your own uniqueness.

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When first approaching the freelancer’s lifestyle, some people feel disheartened when they notice just how many talented freelancers populate the freelancing platforms and Facebook groups. They have piled an outstanding number of qualifications and skills and their profiles and portfolios are as professional as they can be. Yes, the competition is high. But this does not mean that you too cannot find your place amongst the talented freelancers and stand out with your own uniqueness.

Let’s examine five important ways you can stand out from the crowd and be noticed by your kindred clients.

Stand out with your profile picture

Experience shows that having a professional-looking and friendly profile picture makes the client stop his attention on your freelancing profile and look into it further. We subconsciously decide who to do business with and the visual impact a profile picture gives has its role in determining if the client can trust you with a project or not. Invest your efforts into creating a good-looking and professional picture that represents you faithfully as an expert in your field, and these will repay you into many potential clients. Here are some tips to keep in mind while creating your profile picture:

  • Keep the focus on your face and try to add a heart-felt smile
  • Have a simple background and avoid any distracting elements
  • Keep your posture upright and your outfit nice and tidy

Stand out with your profile title

When you are writing your profile title, you can underline something special about your skills and character. You want to avoid just stating blandly: “Developer” or “Copywriter”. Try to add a little emotional tweak so the clients will notice your uniqueness. Instead of just stating Copywriter, you may add “Science-backed” or “Persuasive”, in front of it. According to your niche and your strengths and skills, add an adjective that is both emotionally engaging and represents truthfully your abilities. And then attach some words that briefly show your special secret power, for example, if you are an expert in a particular area or field here is the place to showcase it as it will grab the attention of your potential clients that are looking for just that. You may consider adding some special characters to your title so that it looks professional and intriguing.

Here are some examples of good profile titles:

  • Result-driven [Content Creator] Using Ethical Persuasion Techniques
  • Full-Stack Python/Django {Senior Developer}
  • Certified *Personal Trainer & Nutritionist* Expert in Healthy Weight Loss

Stand out with your profile description

The third place the client will look at while considering working with you is your profile description. You can make sure it stands out in the crown by considering some important points. Firstly, you should really focus on the first one or two sentences of your profile description, as it is what the clients will read first, this is your lead-in introduction. Make sure you state straight away from your unique point of strength – and especially how the client will feel while working with you – what are the results that you are there to deliver to them.

Then, describe in detail how you can help your clients in different areas of their business. Avoid describing extensively your qualifications and degrees. Focus on the clients and on their needs and the problems that you can resolve for them so they can earn more money or have a happier life.

In order to attract only good quality clients – make sure you add a sentence or two about what kind of people you would like to do business with and what are your requirements. This way you qualify the clients, and they feel they need to put in some effort and go after you, in order to have the possibility to work with you.

Remember to add a Call to Action to your description so the clients will feel inspired to take the next step by sending you a message.

  • Underline your strengths and uniqueness in the lead-in paragraph
  • Focus on your client and how you fulfill their needs
  • Qualify your clients by stating your clear requirements
  • Add a clear call to action
How to stand out in a sea of freelancers

Stand out with the job proposals you are sending

Some freelancing platforms allow you to apply for jobs by submitting a job proposal. You can skillfully craft your job proposals so you really stand out from the crowd. Here are some ideas on how to do that.

One way to stand out with your job proposal is to record a short video of yourself in response to their project in which you briefly introduce yourself, explain what your plan is in fulfilling the project and invite them to send you a message to discuss the project in detail. Really few people will have the courage to record themselves in this way and it adds so much value and personal touch to record something especially for them. They will also have a chance to know you as a person and trust you better.

But what if recording a video is not within your comfort zone? That is completely fine, and there are other ways you can stand out with your job proposals. One is sending a relevant sample of your work that is very similar to the project you are applying for. This way they will have an actual taste of the final product they will receive, and if they like it – they will for sure continue working with you! If you are just starting, you can even create one just for the project.

Remember to carefully read the job description and highlight how you as an expert can help them in resolving their pain points and fulfill their needs.

  • Record a short video in response to their project
  • Send a relevant sample from your past projects or create one from scratch
  • Read carefully the job description and highlight how you can help them

Starting your career as a freelancer is not easy, especially when there is so much competition. However, by applying these simple principles you can find your way on the freelancing platforms and soon you will find clients you would love to work with! Put in consistent effort in doing a good job with your projects and soon enough you will get many happy clients that will spread the word for you!

Happy freelancing!

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Freelance Management System (FMS) – What is it, and what are the benefits? https://freelancelifemagazine.com/freelance-management-system-fms-what-is-it-and-what-are-the-benefits/ Tue, 26 Apr 2022 13:21:51 +0000 https://freelancelifemagazine.com/?p=16956 Freelance management system (FMS) is a platform that manages all of the operational, finance, and legal components of working with freelancers to help companies to boost productivity.

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A Freelance Management System is software that helps with administering all the tasks related to freelancers. From the process of hiring to payments, work management, and so much more. If you have a company that works with freelancers, or independent contractors, this article is just for you.

What is Freelance Management System?

Nowadays, more and more companies rely on collaboration with freelancers. They hire independent contractors for different aspects of their business. However, managing all of them is not an easy task. If there are many freelancers, it becomes a cumbersome and stressful hassle. Sometimes, the company can lose essential time in the process. You could well spend that time growing your business or tending to more crucial issues.

Freelance Management Systems (FMS) come to alleviate the hurdle. Managing many individual contractors and agencies becomes an easy game. FMS manages all the operational tasks. It makes the administration easy, transparent, and streamlined.

There are many different platforms and options for the needs of each company. The interface is usually super easy and intuitive, and many of them can manage many projects simultaneously.

Let’s see some of the significant benefits of using Freelance Management Systems (FMS).

1. Hire the Best Freelancers

Using Freelance Management Systems, your company’s HR team defines your requirements for collaborations. It allows independent contractors to share their processes and submit applications in the FMS. Then the hiring team can assess each application quickly and see who the best candidates are. The process makes finding suitable candidates much more effortless. Most FMS already have a pool of freelancers to source from or an established process to find the best candidates for your position.

2. Efficient Onboarding

The onboarding must be as quick as possible and allow your freelancers to get to work as quickly as possible. FMS makes the process easier for you to avoid delays and unnecessary paperwork. Freelance Management Systems can create automation where each step of your checklist is streamlined efficiently. The customization ensures the process fits the needs of your company.

This process can include signing contracts, NDAs, data protections, a compilation of forms, and others. You can add the IT department to your FMS to ensure freelancers have access to all systems they will be using for their work.

3. Smooth Offboarding

Offboarding is just as essential as onboarding, but not many companies have a process for it. FMS helps you define the steps according to your company’s needs. It ensures all aspects of ending the relationship are handled smoothly and efficiently. One of the essential aspects is cutting the access to the systems and data of your company.

4. Payments and Invoicing

Freelance Management Systems enables you to manage invoices seamlessly. No more endless paperwork. It ensures the payments are released promptly without a place for error or delay.

The FMS gives the HR managers a good view of the freelancer timesheets. Time spent on the project is clear, and they can make estimations and assessments efficiently. 

Generating invoice with FMS makes sure freelancers accurately get what they have earned. Different Freelance Management Systems have options for different payment generations. They can depend on the hours billed or on the completed work.

Freelance Management System (FMS)

5. Sign Contracts and Agreements

Before starting any official collaboration, it is essential to sign a contract or agreement. This makes sure the company and the service provider have the same ideas about the working relationship. The terms and conditions, the payment methods, and the retribution are clear. It allows you to avoid misunderstandings that can lead to legal issues. Most Freelance Management Systems have an easy signing tool. It can help you and your contractor start working together with clarity and speed.

6. Time Tracking Tools

Efficient time tracking instruments allow freelancers to track the time they spend on each project. This allows them to fulfill their obligations without hassle. A good Freelance Management System has a way to generate and access the timesheets of each freelancer. The persons in charge can access them easily, which is most helpful.

Monitoring process becomes thus effortless. Companies can track the progress on each project and assess how much time is spent on each one.

7. Project Management Made Easy

Freelance Management System allows you to manage your projects with ease and grace. It provides a solid structural frame and an excellent organization. All the files, tasks, deadlines, milestones are in one centralized, structured location. You can access them with a few clicks.

The FMS’s project management tools make sure the organization and the freelancer are on the same page. All can access all files relevant to the project without stress or worry.

8. Accounting Support

Many Freelance Management Systems offer accounting support. This way, companies that manage their finances themselves do not have to rely on outside help. The many tools include subscriptions, billing, invoicing, and others. This way, an efficient FMS allows you to control your company’s financial aspects and all the related processes.

9. Consistent Communication

A good Freelance Management System makes communication between users easy and trouble free. When managing freelancers and contractors external to your company, communication is one of the most critical factors. Miscommunication can lead to the delay or hindrance of the project’s success.

10. Easy Interface

One of the most significant benefits of an efficient FMS is that it is intuitive and easy to navigate. This makes onboarding users simple, which saves time for the company.

You do not need a difficult learning curve. Choose a platform that offers clarity and does not require you to spend hours reading manuals. The intuitive design is essential. It offers to anyone involved a smooth and easy process of managing and participating in the project.

11. Generating reports

One of the best features that FMS offer is the possibility to generate reports for each project. This is crucial to assess how many resources the completion of the project has required. It tells how efficient the freelancers have been and much more. Analytics allow you to have a clear vision of the progress of ongoing projects.

They have reporting tools that are simple and clear, are very important to stay on track, and do not miss deadlines. This makes planning projects easier and shows if there is something to improve.

Conclusion

These are only several of the benefits that a good FMS can offer. It is a real game-changing solution. Freelance Management System allows you to run all processes related to freelancers in an easy and bureaucracy-free way.

Do you have experience with some FMS? Share your thoughts in the comments below!

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What costs do we have to consider when we start freelancing? https://freelancelifemagazine.com/what-costs-do-we-have-to-consider-when-we-start-freelancing/ Sun, 24 Apr 2022 15:39:53 +0000 https://freelancelifemagazine.com/?p=16849 Is freelancing really free? Undoubtedly, being a freelancer has many perks, and location independence is one of them. However, there are many factors a fledgling freelancer must consider if they wish to make a lasting career.

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Becoming a freelancer has sometimes been publicized as living carefree as a bird in the sky. You see pictures of freelancers working on a beach or in bed in your pajamas. But is freelancing really free? Undoubtedly, being a freelancer has many perks, and location independence is one of them. However, there are many factors a fledgling freelancer must consider if they wish to make a lasting career.

One of them is to manage their expenses carefully. What costs do freelancers need to take into account when they start freelancing? Let’s see.

1. Physical Working Space

Many freelancers do not need real working space. They can work from the comfort of their home, from a coffee shop, or any other location with internet access. However, some need to meet with clients. They need to rent a commercial office. And the rentals vary a lot from one area to another. Some cheap options are using Coworking spaces or daily office rentals. If you know other freelancers in the same situation, you can share the rent and the office space and thus save on the bill. You will need to provide for all the expenses and hassles related to renting, negotiating, and paying.

2. Office Equipment

If you work at home, you will need a comfortable setup to have all you need to work and be efficient. The list includes an ergonomic chair you can sit for long hours without breaking your back or legs. You will need a suitable desk too and a lamp, for the late-night projects. Also, you need to consider any hardware like a printer, for example. And stationery – pencils, notepads, pens, paper, business cards, if required.

3. Laptop or Computer and Other Devices

Of course, you need to own at least a laptop if you are a freelancer. Then, according to your services and needs, you may require a desktop computer and a monitor. Designers might require a tablet to draw on. If you are customer support and need to take in incoming calls, you must purchase a good headset.

Based on your service and niche, you will need a different set of hardware. You will need to provide it for yourself. The good news is that they are usually last for several years, so you won’t need to replace them that often. You also can get a tax deduction for purchasing your hardware and supplies. Ask your accountant how to do it.

4. Subscriptions and Licenses

You need to consider the software you will need to use for your freelancer services. If you are a translator, Trados, the go-to translator program, costs approximately 600$. Some software will cost you a one-time payment, while others come as a subscription. Some programs you may need include the Office 365, access to VPN – Virtual Private Network, Stock Photography providers, or Adobe’s Creative Cloud. If you are just starting and cannot face the costs, you have options. All these have alternatives in the open-source world. But consider it a temporary solution, as to be professional, you will need the best tools out there.

5. Publicity and Freelancer Platform costs

Freelancers need to find ways to reach their clients. They need to market their services in a way that they find new clients. They can do that using Social Media ads on LinkedIn or Facebook, Twitter, or Instagram. Google pay-per-click ads are another option.

Consider the payment for freelancing platforms as Upwork too. Services such as Upwork or Freelancer allow you to have your profile free. However, some platforms charge money if you want to bid on projects. They also get a fee from the project’s worth of sometimes up to 20%.

What costs do we have to consider when we start freelancing

6. Professional Website

Some freelancers, for example, designers, need a well-built professional website. They need it to feature their work and attract prospective clients. Even if your website has not had many extra perks, you need to consider all the costs of having a website. They include subscriptions for hosting and domain. Development and design costs are also quite expensive unless you build it using WordPress.com or Wix.com. If you want to have a blog on your site, you will need to hire a copywriter.

7. Taxes and Accountant

Unlike employees, freelancers need to manage their invoices and tax themselves. The rate of self-employment taxes is usually about 15%.

Unless you have the skills to lead your accounting, you need to hire a good accountant who will book your activity as a freelancer. Accounting services for freelancers depend on your country and region, but you can find affordable options in most cases.

8. Paying your Health Insurance

Freelancers face medical costs too, and they need to allot a part of their budget for good health insurance and other health expenses.

Choose the option that works for you best. You can ask your accountant to help you find good health insurance for your needs.

9. Retirement Plan

Freelancers need to provide for their retirement too. They must save money on their own or make sure they pay taxes related to retirement. Plan with your financial advisor the best solutions for your future financial stability.

10. Professional Development

As a professional freelancer, you need to constantly learn and grow in your chosen niche. This way you can keep up with the latest trends and develop their skills. Freelancers need to be very conscious about choosing a development program. Is it going to pay off more than it costs? Is it worth it?

If you are starting your business, you may consider some programs at a relatively low cost or free of charge.

What costs do we have to consider when we start freelancing

11. Vacations and Sick Leave

Freelancers can take time off, but it is not paid, unlike employees. You definitely should plan time to recharge your batteries and take good care of yourself as a freelancer, especially if you are not feeling well.

Set aside a portion of your monthly income for your coming vacation and travel expenses. You need to do the same for sick time. One strategy many freelancers do is saving 10% out of each completed project. They put it into a separate account that they do not touch. This saving account is convenient when vacation time, or time of crisis, comes.

In the long run, it is a good practice among freelancers to keep up to 6 months of living expenses. Just in case you won’t be able to work, or you will need to face an unexpected loss of clients, you will be safe.

In Conclusion:

Before moving to a full-time freelance career, calculate your expenses very well. This will guarantee your success and sustainability over time.

How was your experience with facing all these freelancer costs? Have you managed to have all of them in check? We’d love to hear about your experience.

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Lili.co – the go-to banking service for freelancers https://freelancelifemagazine.com/lili-co-the-go-to-banking-service-for-freelancers/ https://freelancelifemagazine.com/lili-co-the-go-to-banking-service-for-freelancers/#comments Sat, 23 Apr 2022 11:22:08 +0000 https://freelancelifemagazine.com/?p=16827 Lili.co is designed to offer help for freelancers in navigating their finances in a safe and carefree manner. It is a mobile-only digital banking service skillfully crafted as help for freelancers.

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Being a freelancer, or a self-employed person, means you have to manage your own financial situation. Managing income that has its high and low periods, keeping money for predictable and unpredictable expenses, and allotting money for taxes – it can be a really challenging task to manage all of that!

Lili.co is designed to offer help for freelancers in navigating their finances in a safe and carefree manner. Let’s dive into some of the characteristics of the app.

What is Lili.co?

It is a mobile-only digital banking service skillfully crafted as help for freelancers. The fintech company was founded in November 2018 and it is officially based in New York City. However you will not find lili.co bank building made of bricks anywhere in the world, it is entirely online-based service. Its founders are Lilac Bar David and Liran Zelkha, and they have raised more than 25 million dollars with the project.

Lili.co comes under the form of an app, so here is the first heads-up for those used to using a desktop in managing their banking service – if you feel uncomfortable switching to a mobile-only financial service, maybe you should consider other options, and not lili.co.

Also, this app is designed for freelancers and small business owners only. Upon your signup, you will be asked if you fall into one of these two categories. If the answer is no, the app will inform you that its service is not for you. If the answer is yes, you can proceed to create your account on the Lili.co platform.

Account ownership and debit card

The account is free of charge with no hidden costs or minimum balance. Also, you get FDIC insurance on your funds up to 250,000$ thanks to Lili.co’s partnership with Choice Financial Group. Like the other banks, Lili.co provides a routing number so that clients can deposit funds on your account. What is outstanding with Lili.co, is that these transfers are delivered very speedily. Customers report a delivery that is up to 2 days faster than a traditional bank.

Along with the account, you will receive also a VISA Business debit card within 10 business days, which will allow you to withdraw funds free of charge from network ATMs. From the mobile app, you can freeze or unfreeze the debit card.

Once you get your card, you can set your PIN code and also set it as a default payment card for services such as Apple Pay.

The first advantage of using the Lili.co service is that Lili charges no monthly fees, and no transfer fees. No return checks expenses, and you are not required to have a minimum balance on the app. There are some fees associated with using out-of-network ATMs and that is $2.5 in the US, on top of what the ATM itself charges you. If you are traveling, these fees will rise to up to 5 USD. However, Lili has more than 33 000 network ATMs in the US. So you are located there, you will need to put some effort into finding an ATM that will charge you.

Lili.co - the go-to banking service for freelancers

Lili divides all expenses into categories

When you make purchases with the card, it allows you to categorize your purchases into a specific category. The app has made it very straightforward – you can divide the Life or Work purchases by simply swiping in one direction or the other. You can also select to view more categories to put your expense into a more specific category.

If you put in the effort to mark your business purchases – this will allow the app to generate very accurate quarterly reports of your expenses which can be exported as PDF, CSV or Excel formats and emailed to yourself to be viewed on desktop or handled to your bookkeeping service person.

Manage taxes effortlessly

Lili also splits your funds into buckets for you. Sometimes, when you first start freelancing, setting aside a portion of your income for taxes is not very intuitive. Therefore lili.co can be very helpful in this regard because it can be set in a way to immediately allocate a portion of your income for taxes. This feature of the app is called Tax Bucket. However, you should be mindful of the taxes you owe and set the percentage put aside in a manner it allows you to cover your taxes on a monthly, quarterly, or yearly basis. If you become aware that for some reason there are more funds than needed in your Tax Bucket, you can transfer them out of it any time. And the same is valid also for the other way around! The money in your Tax Bucket won’t display as a part of your main balance, but just below it. It is a simple but very handy tool in managing the taxes and setting aside the required amount when the due date comes around.

Lili.co - the go-to banking service for freelancers

Lili makes the habit of saving money easier

Lili also has a feature that is called Emergency bucket. There you can allocate funds for some unforeseen circumstances in life as downtime at work or a period of sickness. This bucket will stay out of sight until you need it. You can also transfer anytime money into your Emergency bucket. This can make saving money a consistent part of your life and make you build this extremely useful habit for freelancers, in case you don’t already have it.

Lili.co has also thought of a way for you to deposit cash – you can do that at certain retailers. And although Lili does not charge any money for the deposit, the retailer does, but it is never more than 4.95USD.

One drawback of the app is reported to be the mobile check deposits. And while the feature is there, you still need to have a minimum amount of $200 in order to access it.

Thanks to some well-thought features, Lili could make life so much easier for self-employed people like freelancers and small business owners in relation to personal finances. However, to make the most out of their service, you should make Lili.co your main banking account for income and withdrawals, and expenses.

Pros

  • Divides the expenses into Life and Work
  • Automatically allocates a percentage for Taxes
  • Makes saving money easier with the Emergency Bucket
  • No taxes and fees for the account, withdrawal, or transfer
  • Fast delivery of transfers
  • Generates reports useful in bookkeeping
  • Debit card with free-free withdrawal at network ATMs

Cons

  • To use its full potential Lili.co will need to be your primary banking account
  • Cash deposits can cost up to 4.95USD
  • Out of network withdrawals can cost up to 2,50USD
  • Out of US withdrawals can cost up to 5USD
  • The service is unavailable on desktop – but only on a mobile device

You need to have at least 200$ to use mobile check deposits

Lili.co - the go-to banking service for freelancers

Lili Pro

Lili Pro is a version of the lili.co app that is subscription based and offers some additional features. Some of them include

  • Cashback rewards at more than 14,000 merchants
  • Savings account with up to 1% APY
  • Invoicing for your account without any limits or restrictions
  • Overdraft up to $200, free of charge
  • Advanced features for the tracking of your expenses

Lili Pro comes at a subscription of $4.99 per month.

 

Disclaimer: Freelance Life Magazine is not affiliated to the Lili.co. This review is the result of honest opinion.

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How Freelancing Shapes the Future of Work https://freelancelifemagazine.com/how-freelancing-shapes-the-future-of-work/ Tue, 22 Mar 2022 17:13:13 +0000 https://freelancelifemagazine.com/?p=15626 Freelancing has been going on for more than a decade now and is becoming more and more established as an efficient collaboration model.

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Freelancing has become increasingly popular, and it is undoubtedly shaping the way many people see and will see the future of work. Let’s see how this process is evolving.

The Rise of Freelancing

During the last century, the standard work model was going to a specific physical location and performing tasks for a particular period, usually from 9 to 5, on the weekdays. This model has been adopted all over the western world and not only, especially in the factories involved actively with the production of goods.

With the advancements of production technology in factories, the need for a workforce in physical goods production has become less and less. On the other hand, the services occupy a significant chunk of the economy today – they are now over 70%.

The advancement of technology has shaped the way people and working teams communicate. Now all are connected to computers, mobile devices, and the internet. The rise of digital information technology has changed how many services are performed and delivered.

All these technological novelties have led to the boom of freelancing, which challenges the standard 9-5 40 hours work week. The rise of freelancing has also debunked the idea that a worker has to be physically present to perform at a high level of skills and achieve organizational goals.

With freelancing, more and more companies rely on full or part-time independent external contractors for a wide variety of services and skills. Let’s see the consequences and benefits that we can observe.

The Benefits of Freelancing

This new way of remote collaboration has provided both clients and freelancers with undeniable benefits. Like:

1. Lower Company Costs

People who seek the services of a freelancer do not have to worry about renting a physical place to accommodate the worker and all other costs that come along with having a fixed employee.

If the project demands skills and preparation that an employee does not have in the office setting, the company must provide extensive and expensive training and education. And also provide for social insurance, taxes, and paid leave.

Hiring independent professional freelancers save the clients all these costs by providing them with already trained experts in their field, who often have a portfolio of satisfied clients on their backs.

Freelancers can choose their work setting and environment, giving them the freedom to travel more and increase the overall quality of their lives.

2. Increase of Quality of Performance

Relying on a pool of professional freelancers gives the clients the possibility to hire different extraordinarily talented individuals to grow their company effectively and quickly. As the working relationship is based on the delivered value to the organization, if a freelancer is not performing according to the organization’s standard, the clients can easily find a better contractor to meet the needs of the project.

This way of working creates more value for an organization and can lead to long-lasting and mutually beneficial collaborations between freelancers and clients.

3. Increased job opportunities

Every area of the world connected to the internet can become a workplace for digital professionals. It has created many opportunities for people in developing countries to find clients from all over the world and contribute to bringing more abundance to their families and communities. However, they live in a less advantaged place in terms of economics.

4. Improved Skills and Personal Development

Many have been inspired by the new opportunities and the freelancer’s success stories. Aspiring freelancers have found a stimulus to learn and grow in a particular area and develop professional skills. This has brought a significant increase in awareness of the quality of work and performance. It is a stimulus for personal growth and professional development in all world areas.

Talented freelancers are thriving in all digital services like marketing, education, and IT technologies, and they inspire others to take on this path.

5. More Freedom and Higher Quality of Living

Freelancers can choose their work setting and environment, giving them the freedom to travel more and increase the overall quality of their lives. They can work when they choose and where they choose.

This is a cause of an experience of higher efficiency because freelancers usually do not feel under pressure to wake up at a specific time and be productive. They can arrange their productivity time according to their own needs and thus perform when they are at their best. This increases the creativity of their minds and the flow of the working process.

How freelancing shapes the future of work 2

Location independence is one of the most popular bonuses of freelancing, and it has been cherished by many travelers whose dreams came true through freelancing. It also allows moms to work from home and spend more time with their children and families. Freelancing gives a new chance to seniors as well, so they can share their skills and talents during their golden years.

6. Highly adaptable to changing circumstances – this is the future of work

Freelancers have been known for constantly shifting projects and gears. And they can be very adaptable to changing circumstances. Today more than ever, people need to take advantage of this high level of flexibility.

The wave of unemployment that stroke the world due to the Coronavirus pushed many out of their comfort zones. They started searching for new options and possibilities. Many of them are joining the rows of freelancers – either in the same sector, they are experts in or learning new skills through platforms like GeniusU, LinkedinLearning, Udemy, Skillshare, and similar freelancers use to upgrade their skills and win the hearts of their clients. Some of them have entirely transformed their lifestyle – from the life of a typical office employee to a freelancing traveler and explorer, a full-fledged digital nomad.

In Conclusion:

The beautiful dance of demand and supply of remote skills has been going on for more than a decade now and is becoming more and more established as an efficient collaboration model. Undoubtedly, the freedom, flexibility, and sense of personal strength related to freelancing make it an excellent asset for all that choose it as a career path.

Upwork, one of the leading freelancing platforms, claims it receives more than 10 000 applications for new profiles daily, which is just a fraction of what is happening worldwide. A growing tribe of people consciously chooses freelancing as their future, and the numbers are constantly increasing.

Are you looking into the possibilities of becoming a freelancer, or are you already a well-established freelancer with a network of clients? Please share your experience with our community and us. We’d love to hear your story!

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