Managing Freelance Cash Flow

Managing cash flow is one of the most difficult challenges for any business owner, regardless of their size. Bills may come when you don’t have any money in your account. Clients pay at inconvenient times and worse, they sometimes don’t pay at all. When you’re a freelancer, managing cash flow is extremely important. Without a good system, you can go into debt quickly. Let’s take a look at a few expert tips to make sure you stay in the black each month.

#1 Collect a deposit before starting a project. Some freelancers actually collect 100% of the project’s estimated cost before starting. If you have a fantastic reputation in your industry, you can probably get away with this. Otherwise, a good rule of thumb is to collect 50% in advance. This ensures you’ve at least collected half of the project’s costs and you’ll have cash to work with.

#2 Make your invoices due upon receipt. Many companies are accustomed to working with a net 10 or net 30 invoice. This means they don’t have to pay it for ten or thirty days. When your invoices are due upon receipt it can throw them and their accounting department for a loop. Make sure your customers know your terms before signing on to work with them. Implement consequences if customers don’t pay on time.

For example, add a late fee for every day or week a payment is late. Make sure this is clear in advance so your customers are not unhappily surprised. You can also offer a discount to clients who pay on time to motivate them to pay quickly.

#3 Invoice right away. It may seem like common sense; however, many freelancers wait to invoice. Don’t wait. As soon as you deliver that project, invoice them. Even if there are going to be revisions, make the invoice part of your project delivery process.

#4 Pay your bills at the last possible moment. Again, this may seem like common sense; however, many folks are inadvertently giving away money. Hold onto your cash and earn interest as long as you can. Afraid you’re going to miss a due date and incur late fees? Using automatic bill pay helps you make sure payments are on time and you can schedule them for the last possible day. (You’ll also save money on stamps.)

#5 Reward clients with ongoing projects. When you have a client that has regular work, reward them for that. Set up a discount for regular work – we’re talking a project every week or month here – and agree to invoice them at the end of the month. This way, you have guaranteed cash flow and they get a discount. It’s a win-win.

It’s tough to know when your next paycheck is coming sometimes. By taking a few steps to manage your cash flow and offer incentives for repeat business and fast payment, you help to ensure you never have to use that credit card to buy groceries again.

Are You a Freelancer or a Consultant?

Whether you’re just starting out in the freelance world or you’ve been at it for quite a long time, there’s one question to ask yourself that many people neglect to think about. Are you a freelancer or a consultant?

What’s the Difference?

A freelancer is a person who works on a project by project basis. They’re assigned a task to complete, they complete it and they get paid. They may have one or two primary clients or they may have dozens. A freelancer can also work for an individual or a business.

A consultant on the other hand is a person that a business or individual turns to for advice, expertise and help. They also are assigned a task and paid to complete it. However they’re given wiggle room within the project to use their skills and experience to help the client achieve their objectives.

For example, a freelance copywriter may write the copy exactly as a client has dictated. This includes the exact format, benefits and even call to action.

A consultant, on the other hand, will be asked what approach they recommend to sell a product or service. The client will trust them to make the best decisions for their sales copy.

Why Does It Matter?

There are benefits to being a freelancer only. For one, there are no heightened expectations. You’re not expected to be an expert in your industry. You’re just expected to complete a task. Freelancers don’t have the added stress of helping a client thrive and grow.

However, consultants benefit for a number of other reasons. They’re able to charge a lot more because of their expertise. Their clients are also often loyal and come back for their expert help time and time again. This means consultants may spend less of their time actually seeking clients and more time making money.

Which Is the Right Approach for You?

There’s no right or wrong answer here. Each and every freelancer has their own reasons for being a freelance professional. They have their own goals and agenda. If you want to simply work part time and make some extra money, then maybe the idea of positioning yourself as a consultant just doesn’t make sense.

However, for those freelancers who are looking to build a solid full-time business, it makes sense to position yourself as a consultant.

How Do You Position Yourself as a Consultant?

One fantastic way is simply to publish, a lot. Become a guest blogger. Publish articles on your website and other websites. Write reports and ebooks and give them away. Publication helps establish authority and credibility. Also, participate in social networking sites and offer advice to those who need your help.

Finally, you can position yourself as an expert by simply offering advice and experience to your current clients when it’s appropriate. If you’re looking to grow your business and make more money, consider adding “consultant” to your list of services and watch your business boom.

Top Tips from Super Affiliates

Top Tips from Super Affiliates

A super affiliate is someone who generates a significant amount of profits for the products or services they represent. Many super affiliates make six figures simply promoting the products and services of others. Sounds good, right?

Here are five top tips from super affiliates:

Tip #1 Build a strong content foundation. Content drives traffic to your website. It builds awareness. It boosts your credibility and authority in your industry. It gives people a reason to come back to your website. It increases your search engine page ranking. It provides value to your visitors. And content, each and every piece of content you publish, can be used to promote an affiliate product or service.

In short, content is your single most important business asset. Possible content forms include:

* Autoresponders.
* E-newsletters.
* Blogs posts
* Audio messages
* Video messages or content
* Social networking posts
* Articles
* Press releases
* Reports
* Ebooks

Mix it up, too! Choose several forms of content to use to build and grow your affiliate business.

Tip #2 Track and test. Make sure you know where your prospects are coming from. What content works best for your audience? What types of content or links motivate them to click through? What pages do they visit on your website? What keywords do they use? All of this information is essential to building an affiliate business that meets and responds to prospects’ needs.

Tip #3 Go beyond the standard banners and buttons. It’s fine to use the marketing materials your affiliate program provides. However, as mentioned in Tip #1, content is really what works. Create your own content, promotions and brand to promote your affiliate products and services.

Tip #4 Build a community and a brand. You are a business. And to be a successful business, a brand image and a community are necessary. Building a community around your website and providing valuable content is a sure way to create a following that trusts you and your credibility – which results in click throughs and commissions. And social networking is perhaps one of the most useful tools to build a community and communicate your brand image.

Tip #5 Communicate and follow up with customers. Regular communication is the best way to continue to motivate purchases. Build an opt in list and create a plan to provide them with regular and valuable information. Each ezine or autoresponder you send can promote but it should also inform. Continuing to connect with your audience is essential for super affiliate success.

In today’s market building an affiliate business is about building a community and connecting with others who are interested in your topic. Get online, blog, comment on blogs, network and drive traffic to your site with content.

Turning Your Passion or Hobby into an Affiliate Goldmine

Turning Your Passion or Hobby into an Affiliate Goldmine

Do you have a strong passion for a particular topic or a hobby you could happily spend each waking hour focused on? Most people have something they’re passionate about. It could be knitting, making rocking chairs, collecting pencils, soap operas, shoes, making beer, you name it there’s someone who has a passion for it.

What are you passionate about? What’s your hobby? Wouldn’t it be great if you could also make money from your unique passion?

You can as an affiliate marketer. Affiliate marketing is a great way to build an online income part time or full time, you can work from home. It’s extremely low risk and it’s easy to learn.

Here’s how to turn your passion or hobby into an affiliate goldmine:

1. Choose the passion/hobby you’re going to build a website or blog around. You’re going to be writing, thinking about, planning and talking about your topic every day. Make sure it’s a topic you’re passionate about.

2. Make a list of 50 article topics or blog posts you can write, record as an audio or make a video about. If you’re passionate about your topic then you’ll be able to easily come up with 50 things you want to talk about. And know that you don’t have to write if writing isn’t your thing. You can make audio recordings or make videos too. You just need to be able to enthusiastically discuss your topic.

3. Get online and research affiliate programs. Look in affiliate directories and visit the websites of companies you have used, respect and enjoy. Look for affiliate programs that have a good reputation.

4. Create your website or blog. There are many options here, one of the easiest is to purchase a domain name and set a WordPress blog up on it. There are tutorials and guides to help you do this yourself.

5. Grab that list of 50 topics and start creating content. Content is your foundation and the way you’re going to attract visitors and make sales. Content can be in the form of:

* Reviews
* Articles
* Reports
* Case studies
* Interviews
* Courses
* Audio and video content too!

Be sure to strategically place your affiliate links in your content. The goal is to inform your audience and presell relevant products or services.

For example, if your passion is knitting and you’re talking about a holiday knitting project you might link to a store where you buy your patterns, assuming you’re an affiliate for them. Your reader may click through and make a purchase earning you a commission.

6. Create a plan to market your affiliate business. The more people who see your content and visit your blog or website, the more money you can make. It just makes sense to promote your business. Social networking is a great way to accomplish this because it lets you interact directly with other people who are interested in your topic.

However you can also use:

* PPC
* Banner and text advertising
* Article marketing
* Newsletter/ezine marketing
* Joint venture partnerships

There’s little that is as rewarding as making money doing something you love. Why not take a few steps to turn your passion or hobby into an affiliate goldmine? There’s little to no risk and the joy and wealth that can be obtained may be life changing.

Sure Fire Ways To Promote Affiliate Offers

Sure Fire Ways To Promote Affiliate Offers

Affiliates make money by promoting and preselling the products and services of others. There are many ways to promote affiliate offers including banner ads, pay per click ads and advertising on websites. However, there are other more powerful and effective affiliate promotion strategies.

Let’s take a look at a few surefire ways to promote affiliate offers.

Reviews

Reviews are one of the most powerful ways to promote affiliate offers. Before many people make a purchase, they look for product reviews to help them make a decision. They use reviews to compare features, prices, and of course to help justify their buying decision.

You can tap into this need by writing quality reviews for the products you represent. A good review will identify the product features and benefits. It will present all the pros and cons of the product in an honest light. Presenting your review in the most unbiased manner possible will help your readers trust you and what you have to say.

When writing your review, don’t make it sound or read like a sales page. That’s the job of the company sales page you’re linking to. The review should be designed to presell the product. And of course, be sure to include a link or two to the product sales page so you can earn a commission.

Articles

Just like reviews, people read online to learn more about a problem they have or a desire they wish to fulfill. Articles, designed to inform and help people solve their problems will be read, passed along and linked to. When you include links in these articles to your affiliate products, you make sales. It’s one of the strongest ways to promote affiliate products.

Publish articles on your website, as blog posts, in your newsletter or ezine, on partner websites and blogs and on article marketing sites that allow affiliate links.

Audio and Video

Just like articles, audio and video content is also a great way to promote affiliate products. Unfortunately, it’s tough to link to products in audio and video. That being said, there are ways to link in audio and video content and you can work around it by referencing a link to the product on your website or blog.

Reports and Ebooks

At this point you might be noticing a trend – content is a great way to promote affiliate products. Reports and ebooks offer a tremendous amount of value to the reader because they take a larger look at how to solve a problem. They’re more in depth than a standard article. For example a book or report on dog housebreaking is going to be a lot more detailed and potentially helpful than an article on the same topic.

Just like in an article, you would include links to relevant affiliate products in the reports and ebooks.

If you’re looking for surefire ways to promote your affiliate products, you can’t go wrong with content. Any form of content, as long as it offers your readers value and benefit, is a great vehicle for affiliate promotion. Get busy creating your content strategy today!