There’s no one-size-fits-all approach when it comes to building your freelance business. But there are a few actionable tips you can use to get your leg up by finding your niche as an entrepreneur.
Whether you’re a freelance photographer, an artist running your own studio, or a digital marketing expert, here are a few ways you can set yourself up for success.
Find your niche
As an entrepreneur, the last thing you want to be is a solution looking for a problem. Businesses often have this issue. It’s part of the reason why new products fail and why 90% of startup companies fail in the first 10 years.
Think of common issues that businesses or potential clients have that you could solve. These problems can exist in any industry; don’t be afraid to expand your horizons.
For instance, self-driving vehicles haven’t seen much success as passenger cars because drivers are uneasy around them. However, self-driving trucks have seen incredible success because they solve multiple problems including:
- Truck driver shortage. The trucking industry has suffered a driver shortage for years and only 500,000 refrigerated trailers are in operation. Compared to the steel production industry, which employs 142,000 people, the trucking industry employs 3.5 million people and needs 51,000 more drivers.
- Long-haul capabilities. Long hauls for truck drivers can be dangerous because they can fall asleep at the wheel and pose a hazard to themselves and those around them.
- Number of trips. When hauling a shipment, only a certain number of goods might be shipped depending on the size of the truck and the number of drivers available. But with self-driving trucks, one driver can lead a fleet of self-driving vehicles so fewer trips are necessary.
To find your own niche as a freelancer, consider skills and interests, identify the problems you can solve, research your competition, and determine how profitable your niche can be. Essentially, be the self-driving truck the trucking industry wants to see in the world.
Test the ideas that you have
When you have an idea for your niche and a potential solution to a problem, it’s time to test the idea that you have. Testing is always recommended because you don’t want to put all of your eggs into one basket if that basket can’t handle it.
Set up a landing page for pre-sales of a product you’re developing or you’re having patented. The USPTO receives more than 500,000 patent applications a year, so you’ll have enough time to drive traffic to your landing page and get your audience excited.
By testing out your product or services, you can find out whether or not there’s anything stopping your target audience from becoming invested in your work. It’s always easier to backpedal on a test than a major investment.
Have a backup plan
Not all ideas come to fruition, and that’s okay. That’s also why it’s important to have a list of potential products and services you can offer. If your landing page didn’t see a lot of activity despite your best efforts and paid advertising, it may be worth trying out a new idea. Working at a call center, for instance, can turn into a successful freelancing career in some situations. Choose work that fits your skills and availability, then increase earnings with experience, great performance, and scheduling more time. Most opportunities pay a per-talk-minute rate, so the more calls you take, the more you earn. For example, you can earn $200 per week working 20 hours.
Browse the top products and services in the niche you’re considering. You want to find a niche that has a few good products and services available to them, but not an overabundance. You need to be sure that the area you’re going into is profitable while also ensuring your solution is unique.
These are just a few ways you can increase your chances of success on the market as a freelancer. With the right tools in your arsenal, you might be making $200 in less than 20 hours weekly. By finding your niche and knowing how to navigate it, you can find greater rewards.