Hey, what's going on everyone Paul Mendes here with Profitable Freelancer, and welcome to my
channel we talk about all things freelancing, entrepreneurship, and lifestyle freedom,
and in this video, I wanted to go a little bit back to more of the basics of why I created
this whole brand in the first place Profitable Freelancer and I want to basically discuss how
you can actually be Profitable when you go out there as an entrepreneur. Whether that's working
for yourself or even just working with another team of entrepreneurs on a business endeavor.
Now what I'm going to be revealing is what has given me the ability to actually have success
from leaving a nine to five and building a profitable freelance business. Now I know that
a lot of times this isn't the case and all of the data out there backs it up that most people
that go out there and try to start a business actually fail and they usually do that within
their first couple years of business and in this video, I am going to be diving really deep into
the actual foundation, the building blocks of how you can build a profitable business. Whether
that's freelancing or just going into business for yourself in some fashion this video is going to
help you out. Okay so getting into how to actually build a profitable business side hustle or
whatever you're doing you need to first think about what you're actually doing and is it really
a business. Now the reason I say this is because a lot of times the word side hustle and you know
a lot of get rich quick schemes are kind of thrown around and there's a lot of different things such
as like filling out surveys, watching videos, selling your old clothes, that you have for money
and a lot of people are saying that this is a side hustle. This is a way you can earn money and what
I'm here to say is that is really not going to be able to build a profitable stream of revenue
for you for the long term. So whether that's something you're doing on the side or whether
you want to really start a business make it your full-time job you need to ask yourself what can I
actually do that I can treat as a business and that leads right into the next point which is
it's a business. So of course it's not going to work just in a week or a month you need to put
consistent effort into it and that's why sometimes I laugh when I see some of the content out there
even some of the youtube videos recently about some of the freelancing platforms like for example
I've seen videos like "I tried freelancing on Upwork for one week" and they're giving a big
thumbs down and that's just the wrong approach to take and it's the wrong advice to give people
because it kind of turns a lot of people away just because negative content is always going to get
more clicks and more attention. It's just how the human brain is wired unfortunately so
what I'm trying to say is if you try to go do something for a week and it doesn't work right
away and you say that's a failure you're actually just quitting on yourself so no matter what you do
first treat it as a business especially if you're going out there as a freelancer you have to know
that this is going to be something you're going to be doing to build up to income that you want
and it's not just going to happen overnight. So once you understand that that's when you can get
into kind of the second part and even if you are going out there and you want to build let's say an
e-commerce website where you're selling physical products or you want to be a freelancer and
provide your services or consulting to different businesses you need to ask yourself "what is
actually in demand in the marketplace?" And "what can I actually learn or what do I already know?"
Now when you ask yourself this you start to weed out all of the different things that you actually
may enjoy doing or you think people want but when you actually get into it they might not really
want and a lot of times entrepreneurs they figure this out the hard way and so did I mean when I
went out there and I started to try to freelance I just built a website and I thought people would
just come to it and find it naturally and when that didn't happen. I started to realize there's
a whole different ecosystem out there a whole different digital infrastructure built like on
some of these platforms like Upwork.com things like that that already have the traffic going
to it. So what I'm trying to say is you need to kind of plug yourself into an area that's already
in-demand businesses need to be looking for either the services or the products you're selling.
So before you go into business and you get all excited about it and start building yourself a
logo or a website or whatever it is first go back to the basics number one treat it like a business.
Number two like we just spoke about actually look at what's in-demand in the marketplace and what
that what's something that you can provide that's different let's say just from the way someone else
does it and that could just mean that you know you're a very hard worker and that you're very
good at communication. So you can keep clients in touch and things like that so don't always
think you need to have all of these high-level skills. A lot of its really basic skills that
really get you ahead and it's all about just the consistency and the dedication to the business
that you're building and now the third way you can be a profitable freelancer or entrepreneur
is to really focus on what I like to call the holy grail of any business and that's cash flow
and more importantly recurring cash flow. So that means businesses and people and clients that are
paying you every single month these are long-term clients repeat clients whatever you want to call
it these are people that are trusting you so much because your services that you provide them are
delivering so much value that they want you on their digital team they want you to actually be
someone that they pay every month and not just a freelancer for a one-time project so that's
what i'm trying to say whether that's you know whatever service you're providing to start out
understand that you can grow from there you can offer a lot of different services
as a freelancer but to really be profitable you need to start to find a couple skills that you
can bundle together because once you do that that's when you can actually go to clients
and get repeat monthly contracts that is the holy grail of being a profitable freelancer and
of any successful business is having those repeat customers come to you every single month providing
you that cash flow providing you those multiple streams of income that's actually diversified and
allows you to project where you're going on top of that once you start to have repeat clients that's
when you know that you actually have a business built and you're not just jumping from one task
to another to another. So all of that work that goes into getting that client and building that
relationship is supposed to pay off for you in the long-term and once you do that another
whole world of opportunity opens up when they start to recommend you to their other business
owner friends and they start to recommend you to other people in their community. That is how you
grow as an entrepreneur as a freelancer and just as your personal brand you want to get in touch
with people and businesses that you can truly help and once you do that and you can really establish
a long-term relationship where they're paying you every single month. Whether it's a flat fee
or it's based on how much sales you provide them that's really up to you how you want to structure
it but that's the way you can go about actually having success and the reason I made this video
once again is because a lot of times it's easy to just focus on what the new trend is or what's
the easiest way to make money or what's that next investment I can invest in and just get a thousand
percent return. The you know the mind is hardwired to want to get those things because we see it as a
reward and once we can start to rewire the way our brain works and stop trying to just you know hit
the lottery and get rich quick but we actually put our head down we focus every single day we show up
we try to get better that is when we have the most success as entrepreneurs as freelancers and that's
really the message I want to send out there to really cut through all the negative content all
the people that have tried to start a business and failed and then you know they get mad at you they
get mad at the world they get mad at people who are actually having success and you want to know
why the reason that they get mad is it's because they're mad at themselves they quit on themselves
and so don't take that personally really just look at why people are saying certain things
and only take advice from people that are in the position that you really want to get to in life
and in business and that's something that i've done that's really paid off because when you just
listen to all the different chatter out there there's so much going on you don't have any
direction but when you really just take advice from a couple different mentors in different
areas that you really are just resonating with that's how you can get the most out of
all of the content you're consuming. So I hope this was helpful please hit the like
button it really helps you know my channel grow and more people see this video because
we're all in together I really look forward to all of your future success leave a comment down
below what you want to hear next and until next time my name is Paul Mendes have an awesome day.