Ben Huffman, CEO and co-founder Against, knows what it takes to be a successful freelancer. Huffman gained first-hand experience in the freelance space as a music producer, working with small labels and eventually Sony Music. The job was enjoyable, but “not very well paid,” he says Entrepreneur, so he began designing applications, presentations and web sites. Huffman became a “power user” of Elance and Odesk, which merged to form Upwork, and soon became “fascinated” by the idea of building a global team.
Image credit: Courtesy of Contra. Ben Huffman.
“I looked for projects locally in New York and then hired freelancers from all over the world to help me use skills I didn’t have,” Huffman recalled. “I loved the freedom and autonomy of working independently, but even more I loved working with people from different cultures and backgrounds. Early on, I realized the flaws in the business models of the platforms I was using.”
Huffman explains that the world was becoming more and more connected, and “the take-rate model that eBay brought to the fore “didn’t make sense from a people and skilled perspective,” especially as employees increasingly sought flexibility, and employers needed more area of interest skills. So Huffman got down to create a platform that could solve these problems, and after interviewing 1000’s of freelance employees, he discovered that to achieve success, they needed to think about three things: establishing their identity and credibility, managing their business, and finding latest leads. Contra, which has raised $45 million from enterprise capital firms, provides support in all of these areas.
“Contra is free, so our users can keep 100% of their earnings.”
“Freelance workers can create a profile that showcases their skills and what they can actually do, rather than filling roles at their previous companies,” Huffman says. “Focusing on projects and skills allows independents to highlight the specific problems they solved and the value they brought. Independents can find new projects from proven, high-quality clients, manage their business with our free invoices, contracts and quotes, and, most importantly, get paid. Contra is free, so our users get to keep 100% of their earnings.
Today, nearly two in five American adults work on the side, and one in three say they use their earnings from this job to cover everyday expenses, according to a study Bank rate questionnaire. Freelance projects can be an accessible and flexible option for people looking to leverage their skills, but the most successful ones will be those who avoid the common pitfalls of the job.
Huffman shares four mistakes that can hinder your side hustler’s success:
1. Lowering the prices of services to attract the first customers
“Going this route could devalue your work,” Huffman explains, “and make it much more difficult to raise prices in the future. Before you stabilize your prices, understand the market you are entering, track industry rates and take into account your years of experience and your unique knowledge; these variables will help you determine a price that works for you and your customers.
2. Improper prioritization of projects
“It’s important to prioritize projects that fully match your skill set and politely turn down projects that might be a better fit for someone else,” Huffman says. “While many aspiring freelancers may regret turning down new projects, taking on too much work can often lead to overwhelm and low-quality work.”
3. Not learning latest skills that are in demand
“Right now we see a huge demand for skills like Framer for web development, video animation and social media management,” Huffman says. “There is also a huge opportunity to improve qualifications in the latest artificial intelligence tools. The world of work is changing in large part thanks to artificial intelligence and there is a huge opportunity to get ahead of it all.”
4. Don’t go the extra mile for your customers
“High levels of engagement with clients can result in referrals, more future projects, and a reputation that helps build long-term relationships,” says Huffman. “To ensure the success of any project, you will need a well-developed set of deliverables and a project schedule. Once you have this, you should include everything in the contract so that you have a framework for the contract and protection in case of problems. get off the track.”
And one last piece of advice on how you can achieve success in your side game? While developing your client network is necessary, remember to develop your network of other independent consultants. “Having a community of other freelancers from whom you can bounce ideas and get advice is invaluable and can lead to new leads in the future,” says Huffman.