Turning Passion Projects into Profitable Ventures
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Chapter 1: The Value of Your Work
Have you ever thought about getting compensated for your efforts?
Recently, a friend of mine posed an interesting question:
"Hey, Aldric. I've been doing side projects for a couple of years now, managing social media for small businesses and crafting copy to boost their online visibility. Shouldn't I start charging for my services?"
I often receive inquiries like this, and they never cease to perplex me. Why do we offer our services for free while expecting our employers to pay us for every minute of overtime?
My friend Joe usually responds with, "Aldric, I'm just starting out. No one will pay me while I'm still figuring things out."
I find this amusing, so I let it slide. Everyone is entitled to their viewpoint. However, my stance is straightforward: beyond passion, there must be financial reward.
If we aren't making any money from our side ventures, the likelihood of transforming them into full-time endeavors is slim.
"Joe, if you aspire to build a business that is truly yours, you need to evaluate the viability and potential of your side projects now. Is there a market for your skills? What are clients willing to pay? Can you compete with numerous copywriters who are offering their work for as little as $10?"
Joe's expression changed; he understood the gravity of what I was saying. The truth is, he feels uneasy about charging for his services. He enjoys his work but prefers to do it without a fee.
"You're right, buddy. Perhaps after another year of free work to establish my credentials, I'll feel confident enough to charge clients without losing them."
I sipped my coffee and listened, sensing his confusion. I decided to let him sort through his thoughts.
I Worked for Free for Six Months Before Charging a Fee
Working for free can be seen as a rite of passage or a way to pay your dues.
If your only motivation is passion, then it's perfectly fine to work for free to begin with. Everyone has to start somewhere. Seek mentorship, set a timeline for your apprenticeship, and absorb as much knowledge as you can.
When I began my copywriting journey, I worked without pay for six months. I was inexperienced but determined to find direction. I chose Adeline as my mentor and learned everything she had to teach.
Adeline would land copywriting projects and assign me sections to write.
"Work on the introduction for the case studies page. Make it compelling enough for me to want to read all the tedious case studies that follow."
I would accept the challenge and keep revising that introduction until she was satisfied. Each time, she would provide feedback, guiding me through the process.
"This sentence is concise and impactful. Well done! Keep your sentences short at the beginning to capture interest. And ease up on the commas; use periods instead."
After six months, I scheduled a coffee meeting with Adeline to ask a crucial question:
"Ad, please be honest—do you think I'm ready to start charging for my work?"
She looked at me as if I had lost my mind and replied, "You should have done that a long time ago. There's always demand for your skills."
That conversation happened four years ago, but her words still resonate with me: "There's always demand for your skills."
The Misunderstanding of Free Work versus Paid Work
"If I wanted to work for free, I'd choose to volunteer, not freelance. Understand the distinction!"
Value-for-Free is often misinterpreted as a marketing strategy rather than a legitimate business model. Many side-hustlers, including Joe, believe that offering their services for free will lead to business growth. However, the risk here is significant: when clients become accustomed to receiving free work, they often expect it indefinitely.
In essence, you risk being undervalued and taken for granted.
If you find yourself in the Value-for-Free camp, like Joe, consider these steps to start earning from your side projects:
- Examine various freelancing platforms such as Fiverr, Upwork, and others.
- Review the copywriting services listed there.
- Analyze the offerings, both individually and as packages.
- Observe the project timelines.
- Investigate the pricing structures, identifying both the lowest and highest rates.
- Start at the lowest price point and assess if you can provide similar services.
- Gradually move up the pricing scale until you reach a rate that reflects your current skills.
- Begin charging that rate to new clients.
This was the same approach Adeline encouraged me to take years ago. I immersed myself in the freelance copywriting market, amazed by its diversity and depth, and figured out where I fit in.
I then began exchanging my work for payment. It was challenging since I wasn't naturally inclined towards sales. However, as my confidence grew, so did my rates for the same amount of work. My self-assurance as a side-hustler skyrocketed.
Joe rested his chin on his palm, captivated by my story.
"I aspire to achieve that one day."
I looked into his eyes and smiled, "Let’s make that day today, my friend."
Chapter 2: Embracing Your Worth
Summary
I adhere to two fundamental principles:
- We want to produce exceptional work.
- We want to be compensated fairly.
These two principles reinforce each other and motivate us to improve.
It's essential to acknowledge that everyone starts somewhere. If you're a beginner in your side-hustle, you will need time to learn the ropes. However, we cannot remain students indefinitely. We have bills to pay and mouths to feed.
So, how long should we work for free? I suggest a maximum of six months. After that, we must respect our time and expertise.
Remember: there is always a market catering to various levels of experience and expertise.
About the Author
As a content creator, I share insights drawn from my life experiences and professional journey. Our unique perspectives are shaped by our individual experiences. Feel free to connect with me on LinkedIn and Twitter!
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