The 4 Stages of Freelancing Explained | Part 2

Jan 12, 2024

The podcast explores the last two stages of freelancing: Lifestyler and Diversifier. It discusses the motivations, challenges, mistakes, and questions at each stage, as well as the key breakthroughs and financial goals. It helps freelancers figure out where they are in their journey and what to focus on next. It also explores the concept of diversification in freelancing, including creating non-service revenue and career progressions.

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Introduction

00:00 • 2min

Challenges and Mindset Shifts of Freelancers

02:28 • 6min

Financial Goals, Health Care Crowdfunding, and Diversifiers

08:16 • 3min

Diversifying in Freelancing

11:16 • 6min

The Journey of Letting Go and Creating Non-Service Revenue

17:27 • 4min

In this continuation of “The 4 Stages of Freelancing,” Austin L. Church explores the last two stages: Lifestyler and Diversifier. After they’ve navigated through the Moonlighter and Hustler phases, freelancers reach a level of maturity where challenges become more complex. Meanwhile, opportunities for growth and personal fulfillment expand.

Austin highlights the motivations, challenges, mistakes, and questions at each stage, as well as the key breakthroughs and financial goals.

Are you a Lifestyler eager to earn the same or more while working less? Or are you a Diversifier interested in creating new revenue streams?

Regardless, this episode will help you figure out where you currently are in your journey and what to focus on next.

Key points

Lifestylers overview (01:53)
The motivations for Lifestylers (04:35)
The mistakes for Lifestylers (05:27)
The questions for Lifestylers (07:23)
The main breakthrough for Lifestylers (7:56)
The main financial goal for Lifestylers (08:16)
Diversifiers overview (10:35)
The motivations for Diversifiers (12:35)
The challenges for Diversifiers (13:49)
The questions for Diversifiers (17:07)
The main breakthrough for Diversifiers (17:46)
The main financial goal for Diversifiers (18:08)

Notable Quotes

"We freelancers and consultants can get so fixated on winning the next project, staying ahead of bills, and achieving financial stability that we inadvertently become creative workaholics."
"The last thing any freelancer should do, any consultant should do is blindly copy someone else."

Resources

This episode of Freelance Cake is brought to you by CrowdHealth

Healthcare in the US is complicated, confusing, and highly personal. Insurance premiums, deductibles, and copays can get really expensive, especially for freelancers and consultants who don’t have an employer paying for anything. Over the last 7 years, my family has saved $60,000+ in premiums, deductibles, and other out-of-pocket medical expenses that we would have paid with our previous insurance policy. Healthcare crowdfunding has been a game changer for us. If you live in the U.S. and you haven’t already explored what CrowdHealth has to offer, take the time to educate yourself. And if you decide you want to give them a try, go to www.joincrowdhealth.com. You can use promo code FREELANCECAKE during sign-up to save $99 per month for 3 months.

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