Factofly freelance fuel

#006

Welcome to this week's edition of Freelance Fuel, where, as always, we share curated content that can hopefully inspire your business, or be the starting point to get started.

Today we look at how to build a secondary income and start the big side-hustle experiment, why many freelancers leave money on the table, and a pricing strategy for how to introduce higher prices without losing clients, and of course, the recommended tool of the week.

Let's get started.

/Jannik from Factofly

📣 The side-hustle experiment

What does it really take before you can create and make money from a side hustle?

Far too many people overthink getting started, and therefore never take the step.

We would therefore like to show the concrete steps that are required before you can build a secondary income.

For that exercise, we will naturally have to walk the talk, and we have polished our CMO, Jeppe, on the matter.

the side-hustle experiment

Here's what he's done so far:

  • 🎯 Zoomed in on a niche Jeppe is both good at, enjoys making and there is a demand for (a genuine blessed triple venn diagram): CRO or conversion rate optimisation. (Below you can see the development from Google Trends.)CRO google trends
  • 🍿 Jeppe has then put together an extremely simple MVP: three pages in a Google drive plus some cases. Will it be too scratchy? Time will tell. The most important thing is to get something out on the air and adjust from there. (Incidentally, you can see it here.)
  • 💸 Jeppe has made a product with different packages - that is, something you can actually buy. (It seems like a no-brainer, but a lot of freelancers have problems putting together a product that you as a customer can actually say yes to.)
  • 🔥 The entire admin part is of course in place by invoicing through Factofly.
  • 📣 Last but not least, the nerve-wracking step of actually pushing something out in reality is taken. Everything else is completely irrelevant if you don't dare to take the chance and press "launch".

So far so good. Now we just need some customers.

72% of all freelancers' first customers are found in their own network, so there is also a good chance that there is someone who wants to play with them there.

We will come back strongly when there are developments in the case, and there are some lessons we can share.

💸 How to introduce premium prices

pricing

Setting your prices, and especially having the confidence to actually set your prices according to your worth, is often an exercise many freelancers dance around a bit.

The lifeline here is called premium pricing, and is a way in which you can easily differentiate your service and help your customers choose the right solution.

Read on here and learn a little about how to use choice architecture, tiered pricing and not least a good shot of self-confidence to set your prices.

🖖 Who will be the boss?

Noah Kagan

⚙️ Recommended tool: Notion

notion

There's a good chance that Notion isn't new news to you, but if it's slipped under your radar, you're in for quite a treat.

Notion is an all-in-one project management tool, with *almost* unimaginable possibilities. You can manage a good deal of your business through this, create individual pages that you can give customers direct access to, and then it is flexible and easy to work in.

Free for one-man bands otherwise $8/month per user.

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