“How to make six-figure income” is one of the most commonly asked questions about freelancing.
A six-figure income is a goal for many freelancers, and while it may not seem like much in some regions, it may be a life-changing number in others.
Additionally, breaking the $100,000 threshold in any freelance profession is a dream.
Take a look at this article on a freelance writer’s path to a six-figure income. The Freelancer explains her techniques for achieving this figure, as well as some tips and tricks for freelance writers.
Moreover, if you use this strategy consistently, you can easily reach a six-figure income. It won’t happen immediately, and it won’t be free (it will take work, and there will be costs as you scale), but if you’re ready to put in the effort, you’ll be successful.
Let’s Get started with the journey of six-figure income!
As A Freelance Writer, I Used These Strategies To Build A Six-Figure Income
If there’s one thing I can guarantee, it’s that anyone who claims to be able to teach you how to make thousands of dollars freelancing in a matter of weeks is most likely lying.
Additionally, earning a good career as a freelance writer will require an investment of time and a strong dedication to patients, just like any other business.
Let’s get this started:
- 2016 was my first year as a freelance writer. Before taxes, I made about $5,300.
- 2017: I was freelancing for the second year in a row. Before taxes, I made around $32,000.
- 2018: I made just under $80,000, not considering the large government checks I wrote.
- In 2019, I made roughly $102,000.
- In the year 2020, my gross income was roughly $98,000. That’s accurate, it was lower than the previous year, but I made it through.
- In the year 2021, I will have made around $118,000. It only goes to show that freelancing has its ups and downs.
See? Freelancing is a process that takes time to develop. It will not happen quickly.
Moreover, I understand that getting started as a freelancer can be difficult and discouraging. However, if you keep going, the snowball will really start to roll. You can pursue larger clients if you have a proven portfolio under your belt.
Once you’ve landed a few assignments with those bigger clients, your name starts to spread, making it more likely that even bigger, higher-paying clients will contact you.
So, in a nutshell, the lesson is to be willing to put in the effort and invest the time. There is no way to get around it.
Source Of The Funds
Another common misunderstanding I hear is that you can’t actually make a living just writing. This is probably due to the gurus who promise to put thousands of dollars in your bank account if you buy their courses.
I can see where this viewpoint comes from. Many freelancers (including myself) lecture about freelancing. As a result, many people assume that successful freelancers make their money entirely from teaching others rather than from actual client work.
However, I can promise you that none of the aforementioned earnings came from any passive income or products—all it’s been tried and proven freelancing labor for clients.
Here’s a quick rundown of what goes into some of the larger sums you see:
- Project Management: In addition to being a writer, I also work for a content marketing business as a freelance project manager. It’s a pleasant break from my typical writing duties.
- One-Time Writing Assignments: One-time writing projects that I do for clients account for a very minor amount of my income. These projects rarely contribute for more than 10% of my total income.
- Regular Contributor Roles: As a freelance writer, I believe the best thing you can do for yourself is locate places where you can create a relationship and become a regular contributor for them—for example, you know you’re writing four articles per month for a fixed amount. It allows you to maintain a more consistent income without having to seek out new projects month after month. These recurrent projects always account for the majority of my earnings.
Refined On My Niche
While I’ve long believed in the importance of niches, I’ll be the first to confess that when I initially started my freelance job, I was all over the place.
Like, tax tips were the subject of one of my articles. Even, I published an article regarding healthcare like ways to safeguard mental health. Moreover, I even published a whole article on how to find your ideal date.
As a result, my reputation (along with my freelance portfolio) became jumbled and unfocused, and I failed to secure the jobs I actually wanted. My storage unit writing samples did not impress career websites.
Then, I understood I needed to focus my efforts. I discovered that I like discussing the workplace, and my specialty was born.
I’ll warn you ahead of time that this wasn’t a seamless transfer. You don’t have to go all-in on a niche right now.
Slowly but steadily, I let go of the odd jobs that weren’t a good fit for me and concentrated my pitching efforts on clients and possibilities that fit my specialization.
I Dropped Off Some Clients
I learned there were a number of monthly assignments I wasn’t very enthusiastic about—and, even worse, they weren’t paying me very well.
Of course, this isn’t to imply that I didn’t consider anything that paid less than a particular amount—there’s a lot to be said about a job you enjoy or even one that helps you build your reputation.
Moreover, was there anything exceptionally low-paying that I was willing to give up? That is exactly what I did.
That freed up time that I could either devote to my personal passions and interests or to existing, higher-paying clients who needed more work from me but couldn’t accommodate my full schedule.
So, What’s the end result? In 2019, I worked a lot less than I did in 2018, yet I earned around $22,000 more. It’s insane, but it’s the truth.
Focused On Uniformity
Moreover, I concentrated on maintaining uniformity. When it comes to freelancing, you’ll hear a lot about the feast or famine phenomena. You’re immersed in work one week, then your inbox (and fridge) are empty the next.
Rather than performing one-off writing assignments for multiple customers, I prefer to seek recurring contributor agreements, in which I submit a predetermined number of projects (in my case, articles or blog entries) each week or month.
This not only allows me to have a more realistic and predictable task for myself, but it also ensures a more consistent revenue.
Don’t just deliver your project and ride off into the sunset when you finish an assignment for a one-time client. Make it clear that you’d like to work with them again. This can be accomplished in a variety of ways, including:
- Take a look at the many freelance services you provide.
- I’m pitching an idea for a beneficial project that you could do.
- Directly inquire about their prospective freelance need (don’t be hesitant!).
Hard Truth: I Put In A Lot Of Effort
Here’s the harsh reality: I may have finally reached the six-figure income mark that everyone talks about. But there was no quick tip or hidden secret that could have aided me in accomplishing this.
It just took a lot of hard effort and patience in the end.
In my freelance business, 2019 was the first year I broke the six-figure income mark. That was my third year as a full-time freelancer. That implies I’d been doing this for three and a half years as of the end of 2019. That’s how long it took me to get to where I am now financially (and not 30 days like so many gurus and experts would have you believe).
As a freelance writer, you can certainly make a good living. But it won’t just happen—there will be a lot of effort, sweat, and tears involved. You’ll have to be willing to put money into it.
Will You Be Able To Make Six-figure Income As A Freelancer Every Year?
Maybe. You can even earn more with efforts and time. However, it’s possible that this isn’t the case.
Freelancing is unpredictably unpredictable. Yet that’s fine. I’m proud of how much money I’ve been able to make thus far. In future, it won’t bother me if my income fluctuates from time to time. As with better financial management and multiple income streams, this will be taken care of. Furthermore, the ups and downs are all part of the freelance rollercoaster.
What about you? Whether you’re nearing a six-figure income or still looking for a single-paying gig.
I’ll leave you with this bit of Truth: Whether you make a six-figure income or not, freelancing is more than just earning money. It is a rewarding and successful professional choice!