Understanding the Freelance Economy

The freelance economy has become quite competitive over the past few months and if you do not already have a job you are going to have a great fight ahead of you to get one. There are endless occupations available in the freelance economy and it seems that everyone is wanting them. Whether you are a writer, designer or an all around online junkie there is going to be a mass of competition surrounding you.

When you begin looking through the various freelancing websites such as Odesk, Rent-a-coder, eLance or LimeExchange you are right away going to see your competition battling against you. It can be very frustrating when you sit for weeks on end applying for jobs but do not get a single bite of interest.

There are many reasons for this and one of the biggest reasons is your cover letter. If you are someone who doesn’t take the time to personalize every single one of your cover letters you are wasting your own time trying to make it as a freelancer. No one wants to read something that is just copy and pasted. Take the time to write out a brand new cover letter for every job. The fact you are taking the time to catch their attention already looks good on you.

The freelance economy is very competitive. One mistake many people make is lowering their rates to match other peoples. This does not show your worth and could actually lose you jobs. I’ve been working in the freelance market now for 3 years and the past 2 years I’ve worked for an above average rate and had zero problem getting jobs. I have stood my ground about my rate and if someone wants to hire me for less I turn the job away. This does of course lose me the chance at a job, but once you begin working for lower rates every buyer expects it.

Understanding the freelance economy can take a lot. If you haven’t been within it for several years now you are going to find yourself being walked all over. Just because you are a freelancer doesn’t mean you should be working for below average pay or working endless amounts of hours. A freelancer is someone that works from home or their own office on their own schedule.

As a freelancer I have now worked with over 100 different buyers and developed some amazing business relationships. This is a career that takes a lot of effort. Without the right mind set and want for success you are not going to succeed. Push your way to the top or you’ll never get near it.