It’s time for independents everywhere to earn more.
For freelancers, there are a number of barriers getting in the way of generating a sustainable income including uncertainty around pricing and the unpaid time spent on building the business.
Money and pricing have historically been ambiguous topics in the freelancing industry. Some freelancers are barely hitting their margins, while others are struggling to maintain a consistent stream of income. The idea of making a six-figure salary feels out of reach for most.
In fact, only 5% of freelancers make over $100,000 a year.
There are several reasons why the majority of freelancers don’t make six figures, including:
- Undervaluing their offerings
- No transparency around industry pricing
- Lack of repeatable processes
- Significant amount of time spent on low-paying (or unpaid) work
The hidden costs of time
Spending countless hours on administrative tasks and tedious processes eats away at the time freelancers have to focus on the work they love, market themselves to prospective clients, or simply enjoy life outside of work.
Our 2020 Freelance Founder Report found that freelancers spend more than 19 hours a month on financial management and staffing-related tasks.
Administrative tasks can take up too much time for freelancers in a number of ways, including:
- Toggling between multiple tools to create proposals, contracts, and invoices
- Lack of a system or process for prospecting or onboarding clients
- Mental energy spent tailoring a proposal for each potential client
But with Wethos, the path to making six figures is no longer out of reach. With Wethos, freelancers and independents are empowered to take back their time, earn more money, and scale through streamlined scoping and value-based pricing.
Here’s how one agency owner used Wethos to significantly cut down the time it took to create proposals — which helped them accelerate business growth.
Simplifying Complex Proposals: Samad Saifudin, Founder of FunnelMarketr
Samad Saifudin is the founder of FunnelMarketr, an agency that works with medium-sized organizations to serve as a fractional CMO. Funnel Marketr helps clients with all elements of the funnel, from landing pages to ads to the tech integrations needed to set those elements up. Before discovering Wethos, Saifudin used a range of tools, including Quickbooks, TSheets, Slack, Shift, Asana, HubSpot, Shopify, Proposify, and Funnelitics, to run his business.
For Saifudin, the scoping and proposal process was long and tedious. Not only was his team using multiple tools to create custom proposals, but they also didn’t have a streamlined library of services to pull from.
“We were spending about five to seven hours [creating proposals] because the scope of some of our projects [was] bigger and they had to be laid out in multiple phases,” explains Saifudin. “[The] time it takes to build out that proposal can cause a lot of friction.”
In order to show clients the value of the services his agency provides, as well as cut down on manual processes and ultimately scale, Saifudin needed a way to standardize his systems when he discovered Wethos.
Wethos’ scoping templates have helped Saifudin’s agency significantly reduce their time spent on proposals from five to seven hours, down to one hour.
“Template libraries have been key because we’re looking for the same RFPs over and over again,” explains Saifudin. “[With templates], you have it all saved in one go and you can move on faster. Wethos is my accelerator for scalability.”