Go for it!

I recently released my first Google Sheet product (A calculator for freelancers to figure out how much money they need to make and the rate they should charge in order to get there).

I got a lot of sales when I first launched it. I have a way to track the links and see how many times the link is clicked. I have not noticed any abnormalities so far.

I also am not worried. If someone wants to steal it, well have fun! I hope it brings them value. You could waste a lot of energy and time trying to keep people from pirating your tool, or you could use that time to better support the paying users. That is the approach I am taking.

As far as “is it a good idea”, yes! I was surprised at how many people would pay for a tool like this. It beat my expectations on sales in the first couple of hours. I say go for it! You already have the tool built.

When the going get’s tough…

Zoom out.

If the equity you are gaining is gaining value, when are you expecting to cash in on that value? 2 years? 5? 20?

While that might be amazing in a few years, it is putting you in a weird spot now.

The question you need to answer is are you willing to “hustle” a little in order to gain those equity benefits in the long term?

It sounds like the answer is yes. You just need to keep reminding yourself of WHY you are putting in this extra work right now and let that fuel you.

I freelanced for 11 years. During that time I went through many different seasons of business. During some I worked 80 hour weeks. Other times (like when my kids were born) I barely worked for a few months.

The great thing about freelancing is that it can mold to what you need right now.

I no longer freelance, I instead spend time creating digital products and growing my newsletter for freelance web developers (link in my profile, it might be of interest to you!). Shoot me a DM too, I still have clients come in and I am always looking for freelancers to send them to!

Everything in the freelance world is going to get saturated. More people are leaving the 9-5 to work for themselves. The creator economy is only getting started!

This is not a bad thing though. Competition will always exist.

Everyone will need to find ways to set themselves apart. Find where you can compete.

Often these services become commoditized. Video Editing is a commodity. Anyone can do that from a phone.

What do YOU do better than anyone else?

Don’t try to compete on price, it is a race to the bottom. Compete by being super specific about the audience you serve, providing superior quality, or combining skillsets.

Example:

1. Do video editing ONLY for other digital nomads. Focus specifically on that audience. You know the lifestyle, you know what they should show, focus on them.
2. Go the extra mile in how you provide your service. Add your own custom tracks, b-roll, make splash screens, add animations ,etc. Be the best quality.
3. Combine video editing and copywriting. Write the copy for the captions or descriptions of these videos.

I have seen many waves of new competition into a freelance field. I started as a freelance developer in 2012. I survived the builders, and AI, and all the other “web dev is dead”. The reason was that I didn’t just develop websites. I created a scalable platform that would increase your revenue. Others only built websites and for some businesses that was ok.

Now I am focused on growing my newsletter for freelancers. I talk about a lot of this stuff over there if you want to check it out!

Heyo! This question is an important one and one that I often chat with other freelancers about.

It can be hard to “know your number”. But once you do it keeps you informed.

Your situation is different than everyone elses.

1. What are your other responsibilities? (partner, kids, mortgage, etc)
2. How confident are you in your abilities to make it work?
3. How much do you have saved for runway?

In general I would suggest saving 6 months of salary expenses as a minimum. Figure out your bare minimum to make each month and make sure you have enough to cover your butt for 6 months.

I actually am writing a newsletter issue right now literally called “how to find your number”. It is not finished but it will be published on November 7th, you can join here so you do not miss it!

I am also working on a Notion template and mini course to help people work through this number. I believe it is super important to understand and once you do it will empower you to take the leap!

Pricing is a challenge, but when you get it right, you get it right.

Keep in mind that you will be paying the employers side of the taxes along with anything else required to keep your business moving. Make sure you calculate that into the rate.

It sounds like your rate is not set yet. That is good, you have time to research and prepare. Do not go into that meeting without your ideal number locked in your head.

Before the meeting, do your research on the company and make sure you can answer these questions (to yourself, but use them as ammo during your discussions if it comes up).

1. How big is the company?
2. What is the current revenue?
3. How big is the problem you are helping them solve (does it make them more money, save money, or save time?)
4. What value do you bring that no one else brings?
5. What do people of similar experience charge?

When you know the value that you are providing you can come in much more informed for the rate discussion. If you do not come in with your own standards, the company is going to set them for you and they will be what is best for that company, not you.

Know your value.

I have been doing freelance for the past 11 years. The last 2 have been mostly as a consultant/advisor for tech companies. When we have the rate discussion I am direct about the problems I will help them solve along with my value. I rarely get a no (but still do sometimes and that is healthy, if you only get yes then you are charging too little).

Now I am branching off into helping other devs make more money as freelance consultants. I write about everything I have learned over on my newsletter, I know it would help you now and later on down the line!