Many freelancers struggle to keep their businesses afloat. They often work on a per-project basis, which means that they continually have to hunt for new projects. One way to solve this issue is to grow into a small productized agency that completes projects instead of billing working hours as a freelancer. Those who enjoy the flexibility of working on their own time often realize that the elephant in the room cannot be ignored any longer: the constant hunt for new projects. Not only does it take many hours away from work that could’ve been spent on projects, but it also takes a lot of time and effort. On top of that, freelancers are often stressed out that the next month might not be as fruitful as the previous one. The constant fear of not knowing if the cash will run out dampens the joy of working from home at your own pace. Transitioning from freelancing to managing an agency One thing needs to be clear: nobody can start an agency overnight. You can slowly grow into an agency, or launch a product. Let’s look at both paths to find out what kind of challenges await you: Many freelancers would like to take on more projects, but simply lack the resources to do so. What they can do is outsource a part of their tasks, or start hiring part-time help at first. Launching a product is much more complicated. It can be a course, an ebook, or a software. While the passive income dream sounds good, most people are not successful. That being said, it’s certainly not impossible to launch a successful product. Those who are successful often combine their services with products. Let’s look at an example from this list containing productized services examples : Dropship For Sale mainly sells turnkey dropship websites that can be customized with your own logo and domain. The only thing you have to do is purchase one of the ready-made templates. While this is the core business, they also offer custom store designs as a service at a higher price point. Productizing your existing services A much better option to make the switch from freelancing to building and scaling an agency is called productizing. Productization is not just about putting a price on services and selling those as an a-la-cart product. It’s all about niching down your core services, optimizing your processes, and running an efficient business with a high return on investment. A big advantage of running a productized agency is that you: know who your ideal client is, and that you can easily build marketing campaigns. This eliminates the need to constantly hunt for projects/new clients as they should find you via your marketing efforts. Marketing can be anything from a referral system to content marketing and paid ads. One thing that is uncertain is which marketing strategy works best for you. However, you can take a look at competitors, and then experiment with the chosen strategies. Deciding what to productize […]
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