6 Figure Creative

#316: Contracting Is For Suckers | There’s A Better Way To Freelance

Jul 9, 2024

The podcast discusses the drawbacks of freelancers working as contractors and offers solutions for stability and income diversification. It highlights the importance of narrowing down client base to businesses in the $1 to 20-25 million range. Additionally, it explores diversifying income streams and providing personalized freelancer assistance.

33:08

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Quick takeaways

Contracting gigs lack stability and benefits, leading to stress and uncertainty.

Diversifying income streams and implementing flat-rate pricing can enhance freelancer profitability.

Deep dives

Contractors vs. Freelancers: The Pitfalls of Long-Term Contracts

Some freelancers find themselves in long-term contractor roles that lack stability and benefits. While the immediate pay may seem attractive, the absence of benefits, job security, and control over their work leads to stress and uncertainty. Contracting for big companies like Dropbox can be lucrative, but the constant need to seek new projects every few months can disrupt workflow and financial planning.

Maintain Balance: The 10% Rule for Clients

01:17

Beware of the Drawbacks of Contract Work

01:31

Intro

20min

Navigating Client Relationships and Value as a Freelancer

10min

Diversifying Income Streams and Personalized Freelancer Assistance

2min

Ever been offered a gig where a company or agency is hiring you on as a contractor (or subcontractor)?

To anyone desperate for work it an sound like a dream, but here's the catch – it's actually a trap.

In our latest podcast episode, I break down why contracting can seem like a godsend for freelancers desperate for gigs, but it often becomes a nightmare that's impossible to escape.

So, what’s the alternative? This week I dive into:

The 10% rule every freelancer should follow.
The illusion of security in contracting gigs
A stable freelancing model with diversified income streams, stackable projects, and flat-rate pricing

For anyone who's currently contracting under another company, I hope by the end of this episode, you get away from the "dark side" and learn how much better a stable freelancing model can work for you.

For full show notes, visit https://6figurecreative.com/316