To forge a successful career as a Freelance consultant requires courage, resilience, possession of marketable skills, relationships with people who are willing and able to help you get hired into one money-making opportunity or another, an affinity for selling, the discipline needed to set goals, a talent for big picture thinking and setting strategies, and an understanding of human nature and motivation. The ability to attract good luck and dodge bad luck helps, too.
Precious few Freelancers are able to just “go to the office” everyday and take on the usual work. In order to generate an acceptable number of billable hours, we understand that multiple revenue streams must be created and that we must learn to recognize the marketability value of segments of our overall skill set and learn to package, promote and sell those segments to prospective employers, as well as target clients.
Take my revenue streams, for example. When asked, my short form elevator speech is that I’m an external consultant who provides business strategy and marketing solutions to for-profit and not-for-profit organizations. What that means in reality is that I’ve facilitated strategic planning meetings at not-for-profit organizations; edited a book and also served as its photo editor and project manager (it was published by the sponsoring organization); developed curriculum for a series of 90 minute sales skills training workshops; periodically teach business plan writing; and was made a staff writer at an online magazine targeted for women entrepreneurs.
Yes, I continue to do the business strategy and marketing assignments, but the fact is that there are always assignment gaps and I’ve learned to branch out and offer related skills that enhance my brand as they allow me to make some much-needed money. In my experience, it is the ability to leverage your additional competencies that help a Freelancer to create and sustain a profitable business venture.
My friend Adela is a busy educational consultant who works with college bound high school juniors and their parents to first identify suitable colleges for the student and next to navigate the application process. Her business seems to be quite lucrative, yet she nevertheless teaches Spanish at a local college (Adela was born and raised in Mexico and came to the U.S. to attend Harvard University).
Jackie, a friend of many years, launched a small, full-service fitness center that became very successful in that highly competitive market. Yet Jackie has continued to teach fitness classes and train clients at a large downtown gym. Why? Not only does she earn a few extra dollars that a mother of four can always use, but also gets to observe sophisticated fitness center management from the inside and also receive instructor training in new fitness techniques that she can evaluate for inclusion in her own gym. Sometimes you can get paid to research the competition!
My friend Carole toggles between Freelance marketing for technology companies and corporate positions in that sector. She’s a Lotus alumna who’s also worked for tech giant EMC, distinctions that command respect and open doors in the tech industry. In between corporate gigs, Carole goes out on her own to develop marketing strategies for tech start-ups. A couple of years ago, she was offered a position as director of marketing at one of those start-ups, but when the inevitable reorganization occurs, she’ll re-enter the Freelance life.
Now you, Freelancer friend, what else can you do to create additional revenue streams for yourself and if possible, enhance your skill set or obtain useful competitive information?
Sometimes an opportunity that is outside of your brand and strictly for cash-flow may present itself and I suggest that you discreetly take it anyway. As long as running into prospective clients is not a danger, if time and energy allow, a pragmatic Freelancer understands the necessity of promoting cash-flow whenever possible. Build up your retirement account, or use the money to attend seminars that provide professional development and potentially good networking. It’s all about doing business as a solvent and successful Freelance professional.
Thanks for reading,