What is a freelancer ? How to earn money from freelancer?

What is a freelancer? This is the question you should ask yourself if you are interested in freelancing, generating recurring income and optimizing your productive time.

Freelancers are people who work independently. In general, they do not usually get along with work dependency. They want to look down on their own and control themselves. Freelancer will make a much better living than someone stuck in the rat race.

Undoubtedly, they are professionals who want to conquer their financial freedom without working for a third party full time, and without sticking to pre-established schedules.

Is it profitable to work as a freelancer?

In the Latin American context, it is extremely profitable to offer professional services as a freelancer.

Freelance work is an alternative economic activity that consists of offering professional services in an independent way. This way of working facilitates the creation of new businesses and enlarges the number of people with job stability.

Write an excerpt (optional) Anyone who wants to supply their skills can do it from anywhere in the world .how to be a good freelancer. Is it profitable to work as a freelancer? Anyone who wants to supply their skills can do it from anywhere in the world . Design your own work schedule.  You feel comfortable doing short-term jobs or projects.  You are uncomfortable or dislike job dependency.

You can literally live in Argentina, Mexico, Peru or Colombia and receive international contracts for specific projects.

This is why making money online is completely feasible nowadays, thanks to the democratization of the Internet and the easy access to new technologies.

Moreover, those who have discovered and understood what a freelancer is, and are aware of its advantages and benefits, have managed to boost their finances and improve their quality of life substantially.

Especially if they are Hispanic, since the minimum wage in the region does not allow them to make large investments, buy goods, travel or treat themselves to luxuries with such ease or recurrence.

Specifically, working as a freelancer can be more profitable than you think. Especially if you are linked to the world of marketing, software development or technology.

What is freelancing?

Freelancer

You’ve probably heard the term “freelancer” at some point in your life, but do you really know what a freelancer is?

In theory, it is a full-time freelancer. In recent years the figure of the freelancer has experienced a significant upturn in Latin America, as well as in Spain and the United States.

According to a HubSpot report, by 2027 the majority of the global workforce will be freelancers.

A freelancer works in a personal capacity and on his or her own account. This means that he or she is solely responsible for:

• Promoting their services.
• Attracting potential clients.
• Procuring freelance work.
• Setting their prices.
• Negotiating your compensation.

Skills to work as a freelancer

If you are determined to make money from home you need to develop a number of important skills. Here are some of them:

1. Professional training

There are cases in which you can work independently and without having work experience.

Some remote jobs, such as Virtual Assistant, do not usually require a university degree and are still well paid.

However, it is recommended that you have knowledge in a specific area to enhance your skills and stand out.

If you already have a university degree, do not hesitate to take courses, diploma courses, specializations or master’s degrees related to your field of study, or a sector in demand.

These are the 10 most in-demand jobs in Latin America and the world, according to data published by LinkedIn:

• Software engineer.
• Graphic designer.
• Java Script developer.
• Android developer.
• Sales development representative.
• Administrative assistant.
• Project Manager.
• Human Resources Assistant.
• Process engineer.
• Data analyst.

2. Have self-promotion skills

You have to acquire sales and self-promotion skills so that you can capture the interest of your potential clients.

Remember that no one else will do this work for you once you adopt the freelance and remote work mode.

The more skilled you are at self-promoting as a freelancer, the more business opportunities you can capture from wherever you are.

You must also learn to create attractive offers. Selling your professional services and freelance work is crucial to generating recurring income.

Likewise, you must learn negotiation techniques, and understand that you don’t always have to focus on payment to make a profit.

3. Have a presence in the digital environment

It’s simple, if you don’t have a presence in the digital ecosystem it will be very difficult to attract customers on an international scale.

So you should register in some telecommuting platforms, as well as manage your own blog, website and social networks.

All these channels, including LinkedIn, will help you reach more people and connect with potential clients from any corner of the planet.

Consequently, you should familiarize yourself with new technologies and take advantage of the many tools available on the Internet to work online.

Have a digital presence is vital for every business owner, yet many people tend to ignore this. This has become even more important when you’re working from home and need to be in touch with your clients all the time.

That way you could get new remote projects that generate scalable and significant income.

Characteristics of a freelance

Since you already know what a freelancer is, and what their main competencies are, it’s time to share with you some of their characteristics:

• Can offer professional services on a freelance basis.
• They know how to use electronic devices very well and understand the digital ecosystem perfectly.
• He is familiar with home office and telecommuting.
• You are organized, proactive and versatile.
• You have knowledge of sales, leadership and negotiation.
• Knows how remote work platforms work.
• You design your own work schedule.
• Is comfortable doing short term work or projects.
• You are uncomfortable or dislike job dependency.

Freelancer income by region

Below we will see the income that freelancers in Latin America, Spain and the United States can earn.

Freelancers in the United States

Currently, more than 57 million Americans work as freelancers. In 2019, 35% of the U.S. workforce was self-employed, according to Fast Company data.

That same year, freelance income accounted for nearly 5% of the country’s GDP (the equivalent of nearly $1 billion).

Today, freelancers generate more money than 70% of all other U.S. professionals.

On average, freelancers offering skilled services earn $28 per hour. The most common are programming, marketing and business consulting.

However, it should be noted that your income will depend on your profession, or the services you offer.

According to a report by UpWork, the most positioned freelance writers in the market can earn between $30 and $40 dollars per hour (earning an annual salary of $42,000 dollars).

While the annual salary of a programmer, mobile developer, data analyst and digital marketing specialist ranges between $100,000 and $120,000.

Freelancers in Latin America

According to figures from Statista, the proportion of freelancers in Latin America has risen in recent years.

In 2019 Haiti led the top of the countries with the most freelancers in the region. Followed by Bolivia, Peru, Ecuador, Honduras, Colombia and Venezuela.

In the Latin American continent more than 30% of the labor mass works as freelancers.

A Latin American freelancer earns, on average, $20 dollars per hour. Therefore, if he/she works 6 hours a day, 5 days a week, his/her annual salary would exceed $25,000 dollars.

But the truth is that there are highly skilled freelancers who can generate three and four figures with a single project.

The more qualified they are, the more likely they are to multiply their income in the short term.

Freelancers in Spain

Glassdoor estimates that a freelancer earns, on average, more than €50,000 per year in Spain.

At the moment, Barcelona is the most prosperous city for freelancers, both local and foreign.

It is also worth noting that there are currently more than 3 million freelancers in this European country, according to recent data from Statista.

The service sector employs the majority of freelancers in the Spanish territory, followed by the construction sector.

Advantages and disadvantages of freelancing

Knowing what a freelancer is is not enough to adopt this modality of work. It is also necessary to analyze its major advantages and disadvantages. These are the most striking advantages

Advantages: You become your own boss

This means that you will be able to design your working hours, set your rates, work from home and decide which clients you would like to work with temporarily.

You would assume less tax burdens

Freelancers make direct payments to the Internal Revenue Service or IRS. This means that federal and state taxes are not withheld from each paycheck.

Consequently, if you freelance you could face less tax and fiscal burdens.

You can multiply your income

Since you won’t be dependent on a fixed salary, you’ll have the opportunity to diversify your income sources by working remotely.

You literally determine the level of income you want to earn (depending on your projects or workload).

You have more financial and personal freedom

Instead of being tied to a schedule, or an office, you can work at your convenience and from wherever you are.

Therefore, you own your time and can spend it as you see fit. If you want to say goodbye to the 9-to-5 workday, freelance work could be for you.

Disadvantages of freelancing: All the decisions are up to you.

Being your own boss can be a double-edged sword. Especially if you don’t know how to organize your time, or if you struggle to make decisions.

Keep in mind that you will no longer be an employee of a company, but you will become your own business.

Therefore, you will have to assume many positions and responsibilities (from setting your own rates to self-promoting yourself to attract new clients).

You could have difficult months

There are many factors that can affect your workload and the profitability of your freelance services.

From inflation and unemployment, to the obsolescence that your own skills or services may experience.

You must be prepared to face difficult months (those in which you have few jobs and your income is reduced).

If you don’t produce, you don’t make money
It’s simple: all the work depends on you. So you must stay active and focused most of the time to make your freelance work profitable and sustainable.

It’s important to understand that for freelancers, time translates into money (literally).

Platforms to get remote jobs

We already told you what freelancing is, so at this point we’ll introduce you to the employment platforms that could make a difference in your freelance work:

• Freelancer
• Fiverr
• UpWork
• Workana
• FlexJobs
• GetonBoard
• Jobspresso
• Workew
• Virtual Vocations
• LinkedIn

The latter is more focused on networking, but it can still open many doors for you in the foreign job market.

The rest of the platforms allow you to manage a freelance profile, offer services, set your own rates and start attracting potential clients.

In recent years Fiverr and UpWork have experienced significant growth in Latin America.

This is because they are intuitive, friendly and reliable. If you are Latin and don’t know where to start as a freelancer, you should join their communities as soon as possible.

You should also know that the payments for your remote jobs will be guaranteed. Most platforms work with global payment gateways, such as PayPal.

These platforms can become great allies if you want to become your own boss and work on your own.

Good employment options

Freelancers can offer professional services and drive profitable businesses remotely; especially if they are linked to in-demand sectors.

Projections from the U.S. Bureau of Labor Statistics point to these being some of the highest-paying jobs this decade:

• Web developers.
• Information security analysts.
• Market research analysts.
• Human resources specialists.
• Marketing and copywriting.

The provision of qualified services linked to advertising, programming, graphic design, social networking and photo or video editing is also booming.

Therefore, you could generate substantial income by freelancing as:

• Copywriter.
• Photographer.
• Programmer.
• Community Manager.
• Ghoswriter.
• Virtual Assistant.
• Translator.

You can also offer several jobs simultaneously to generate more money. The more multifaceted you are, the more possibilities you will have to strengthen your professional portfolio.

In the long run this will translate into more credibility, and above all, more money flowing into your accounts.

Recommendations for success

These are some of the recommendations you should follow if you want to work independently and be successful:

1. Identify your talents and capitalize on them. For example, if you have graphic design or photography skills, stop seeing them as a hobby and design a strategy to monetize them.
2. Be consistent and disciplined. Becoming your own boss implies assuming multiple responsibilities at the creative, productive, accounting, financial and advertising levels.
3. Sign up for remote work platforms that are solid and reliable. That way you will be able to contact serious and responsible clients.
4. Keep yourself updated. It is no longer enough to have a university degree, since the labor market is saturated. Ideally, you should specialize as much as possible and be constantly updated.
5. Learn to promote yourself. If you do not sell your services, it will take you more time and effort to make yourself known.
6. Analyze the market and your competition. This is crucial to set your rates, learn new trends, acquire new knowledge and become more and more competitive in your area.
7. Work in a planned and strategic way. Although you have the freedom to design your own schedule, it is best not to be too distracted or too relaxed.

Work as a freelancer and multiply your income:

At this point you should be clear about what a freelancer is, what are the advantages that this modality of work offers you and how much money it could generate for you.

If you live in Latin America and want to generate income in foreign currency, you could offer professional services independently.

All you need is a computer with an Internet connection to become a freelancer and start earning more than three figures a month.

The most experienced freelancers achieve a more satisfactory standard of living, and best of all, they feel freer on a financial scale.