Thread: Can Freelancing Make You Rich?

I may not be an expert at talking about this - primarily because I was a freelancer for just over a week.

I decided after a week that it was far more profitable to just hire people to get work done and focus on marketing.

But, it depends on a lot of other factors too:

1. Where you are?

Can you hire cheap labor locally?

2. Can you invest money?

Do you have enough cash or make enough of a profit to hire people to get work done - or, are you happy with trading 8 hours for a few bucks without handling stress?

3. What do you sell?

Is your business model scalable.



If you'd ask me - just hire virtual assistants to get work done when you start working, and slowly scale up.

Eventually, start selling services and making more money.

I am freelancing in an entirely different industry. It allows me to pay the bills and take care of my family etc. When there's some money leftover, I will use that to invest in online ventures.

The freelancing itself will not make me rich but it gives me plenty of time to work for myself on the internet which should lead to another stream of income in the long term.

I am making extra money with my freelance activity on the Internet, that allows me to spend those money on different things.

It is almost a second job, but from the comfort of my home and in my desired time.

Well it makes my cousin rich so i think freelancing is working out really well for her. I wish it is the same thing to me too but so sad I am not getting more clients than her

Originally Posted by bogart

Freelancing is a good sideline for someone starting out with publishing or affliate marketing. You won't get rich but will help create a revenue stream.

I agree. It's good for side income, but it's definitely not a model that will get you rich because you'll be basically trading time for money.

Originally Posted by forumer147

Well it makes my cousin rich so i think freelancing is working out really well for her. I wish it is the same thing to me too but so sad I am not getting more clients than her

There's exceptions to every rule. Freelancers are self-employed. So they should be able to make a better rate than an hourly employee. But its difficult to get rich. Because, the freelancer is contrained or limited to a maximum number of billable hours per week.

Originally Posted by Hulbert Lee

I agree. It's good for side income, but it's definitely not a model that will get you rich because you'll be basically trading time for money.

A good exampple of this is an attorney. An attorney makes a good rate per hour. But they really get rich when they hire employees like a legal secretary, paralegal to draft the pleadings and associate attorneys to do the grunt work.

Freelancing most importantly gives you flexibility. you can do it as a part-time beside your full time job Or like me beside your studies. you can be a full timer too. that's the main benefit. And yes if you work hard of course you can be rich.

Earning a lot of money from internet is no doubt possible, E-commerce have brought a revolution to the v workers but to gain an edge from this require some experience, platform knowledge and technical skills. you must be dedicated to the work, have efficient communication with client, the freelancing secure network that grantee the payment, work complexity analysis and meeting the deadline is the key.

You may write article, work as a journalist , web designer! this will pay right for your skills.

Freelancing will get you as much money as anything will where networking is a requirement. It all depends on how good you are at promoting yourself and what your niche is...