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How to Turn Freelancing into Successful Business?

Choose Your Niche

Choose a specialty and stick to it. If you prefer to work in the legal field, only solicit attorneys and paralegals. If you really like working with the healthcare industry, then choose to solicit doctors and other health professionals. While this may seem like you are turning away potential customers, the opposite is actually true.

By choosing a specific type of industry, you can hone your skills and build a solid reputation as a leader in your field. A professional will often look for the words “specializing in” when they want to hire a transcriptionist or other service. Those two words mean that you are well-versed in your field and you have experience in that area. After you become established, you can branch out into other areas.

Outsource Certain Tasks

There are only so many hours in a day. As your business starts to grow, you may need to outsource certain tasks. Hire someone to answer your phone and do your scheduling or add a transcriptionist to your payroll so that they can pick up the overflow when your dedicated clients send you large amounts of work.

The key is having the right people at your disposal when you need them. If you receive a large amount of work from a client, having a few extra hands will make the work go smoothly and allow you to relax and know things are taken care of. When you have quality help on standby, you won't feel overwhelmed and you can keep your mind on the jobs that are most important.

Add Anchor Clients

Your anchor clients are your foundation. They are the ones you rely on for the bulk of your work. They provide steady work on a regular basis. These clients will also be the ones you have contracts with. Often times, they will be consistent enough with their work to be able to guarantee you so many files a month as a minimum.

In return for that volume of business, you may be able to offer them a discounted rate. Always remember that your anchor clients are the ones who have put the most trust in you by committing themselves to your business. Do what you need to do to always make them your priority.

Put Your Retainer Work First

Retainer work is performed for your “anchor” clients. These clients provide you with dedicated, consistent work. In most cases, you have a contract with them with strict details that determine payment, length of time, and other specifics that pertain only to the jobs they provide you. These anchor clients are the foundation of your business so making them your first priority is a must.

As time goes on, your list of retainer or anchor clients will continue to grow. If you start to feel overwhelmed by the amount of work you are receiving from your dedicated clients, hire someone to help you manage the workload. Doing it all yourself can lead to burn-out and may even cause you to make mistakes when you feel rushed.

Take the time you need to grow your business. Rushing through the process can lead to mistakes. Establish a list of dedicated, anchor clients who will help you build a strong reputation. A successful business doesn't just take off overnight. It's built one client at a time with a strong work ethic and a positive attitude.


Need help turning your freelancing into a successful business?

Book your complimentary business coaching consulting coaching call with me.


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