Is Freelancing Online A Lucrative Career?

This is a common question that many people wanting to pursue a career freelancing online today ask. Having been a freelancer for now 10 years, is freelancing truly a lucrative career? The answer to this question is an affirmative yes. Now the success that everyone is looking for lies on how you pursue it.

For instance, freelancing on a platforms like Upwork, Fiverr, freelancer and others was very lucrative 5 years ago but now things have changed. It’s now hard to make a descent amount of money there. This is owing to an increased number of people joining these freelance gig platforms looking for work compared to the number of clients hiring.

So what makes freelancing a lucrative career despite the shifting tides in the freelance marketplace? It is the individuals flexibility to adapt to change. In this blogpost, I will share with you 3 things that still makes freelancing a very lucrative career to date.

Direct Connection With Clients

One of the biggest shifts that we all witnessed during the Covid-19 lockdown in the year 2020 was the change on how businesses connect with their customers and workers. Freelancers were not left out. They contacted clients directly to seek for work as opposed to applying for work through the freelancing platforms.

As it turned out from the freelancers I have interacted with, getting hired by a company directly online is more lucrative than applying for gigs every day via a freelancing platform. I am also a firm endorser to this approach to freelancing. It is the way to go.

A good example is a client who hires a freelancer for a 6 months contract. The contract pays the freelancer an average of $4,000 a month. That’s good money depending on the country you are residing in.

Moreover, you can plan how you will spend the money or invest.

When you compare this to a freelancing on a platform; on a freelancing platform, it’s really hard to get a client who hires you and give you work consistently for more than 3 months. You may have a contract with a client for long but what you make from it in a month is very small.

The secret today to a lucrative online freelancing career is to look for direct clients.

Diversify

Diversification gives one a room for growth. Diversity when it comes to freelancing is investing your earnings in profitable ventures. Before you do this, educate yourself on how different online investments work. For instance, before you start investing in cryptocurrency, educate yourself and know how the cryptocurrency you are investing in works.

Look for avenues in which you make good profit from your investment.

When you do this, you will be able to shift your focus from depending on one source of income to many. Freelance diversification is not only limited investments; you can diversify your knowledge as well.

For example, if you are a video producer like me, you can diversify and offer video script writing and graphics designer. This move will give you a room to grow financially.

Diversification multiplies your sources of income and this makes freelancing a lucrative career.

Own A Business Online

Take freelancing as an avenue to study and do market research for your next business. Have a goal of owning a business online that serves people within your career. The beauty of freelancing online is that you are paid as you learn how it works. When I started freelancing way back in the year 2013, I had very little experience in video production.

When I was hired for my first job, I learnt from it. I kept perfecting it with time while working on paid contracts. However, my goal always had been to own a successful video production business in Kenya. At the time, I had started it offline.

Take freelancing as your foundation to not only a lucrative career but a successful business as well.

Once you have you idea ready, start. Know who your target audience are and address them clearly. When you position your online startup well, you will definitely prosper in it.

The long term benefit of being a freelancer is owning a lucrative online business.

Conclusion

With new emerging technologies and ideas, freelancing will never cease to be a lucrative career. Be very honest with yourself when you take this path. I have seen many people show off and lie on camera that their luxury lifestyles are being financed by money they got from freelancing, trading on Forex, writing e.t.c. Not all of those who share their story about their freelancing journey or trading are lying. But the loud and flossy ones in most occasions lie.

When you get into the world of freelancing, be open minded. When you come across a good idea, pursue it with a positive mind. When you do so, you will surely succeed.

And that is if from me on why freelancing online is still a lucrative career today.

Did you find this article helpful? Let me know your thoughts in the comments section below.

And if you need professional video production services, you can reach out to me here.

Until next time, bye bye and take care.

Follow me on twitter @cheptiony.