The Secret On How To Reach Your Freelance Long Term Financial Goals

Posted in Freelance, Web Design2 years ago • Written by 29 Comments

Hi gang! To get you pumped up to start 2013 the right way, please watch this short video (6 minutes) and begin thinking about where you see yourself in 12 months as far as freelance design income is concerned.

Before we go farther in our journey to monetize your freelance design skills, we need to start from this destination, and then work our way back to today. This will provide us with both a roadmap, as well as the focal points we need, to ensure your long term financial success along the way.

Three Most Important Takeaways To Reach Your Long Term Financial Goals 

  1. Set your net financial goal for the year.
    Your net financial goal includes all the things that you know you need or want to purchase, including technology, housing, food, entertainment, medical, insurance, family or relationship expenses, etc.
  2. Divide this net goal by 12 in order to clarify your monthly goal.
  3. Filter this monthly goal by 3 factors:
    1. The type of client,
    2. The geography of your client,
    3. Services vs. Products.

Be careful what you wish for.

By starting with a visualization of your destination, you can more easily align your financial goals with your personality and desired lifestyle.

Remember, there is no “right” way to create a freelance design business that supports your livelihood – reaching your long term financial goals…only “your” way.

There is nothing worse then working to get to a destination only to realize that you didn’t really know why you wanted to be there in the first place! ;-)

I have truly enjoyed all the positive feedback and comments from the first video in this series, as well as your personal stories.

Please continue to share your thoughts and personal stories in the comments below, as well as inviting any interested friends or colleagues to join our community.

To your success in 2013 and beyond!

5 Written ArticlesWebsiteGoogle+

“Hello… it’s Spence, the Evil Genius". My passion lies with providing incredible software, practical advice, and hands-on solutions for other entrepreneurs who may be struggling with the mechanics of how to turn their online business dreams into reality.

29 Comments Best Comments First
  • Michael

    Friday, January 4th, 2013 09:54

    1

    Simple, but effective tips. A lot of freelancers tend to live in the moment, but long-range planning helps you get out of your office and get some business. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Friday, January 4th, 2013 14:21

      6

      Hi Michael,

      Good points! I’m a big fan of playing it “by ear”, but sometimes just a little thought about where my meandering is going to lead….helps me to at least go in that general direction, instead of wandering in circles. Starting with the question of “how much” and what “to do” with one’s rewards are helpful in that regard.

      0
  • waleedtahir

    Sunday, January 6th, 2013 12:29

    10

    Simple, but effective tips. A lot of freelancers tend to live in the moment, but long-range planning helps you get out of your office and get some business. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Monday, January 7th, 2013 01:34

      11

      Exactly.
      You wouldn’t set off on a mountain hike without knowing where you were going, or what to do once you arrived…so why would you do that with your livelihood?

      0
  • Y. Alfred

    Monday, January 7th, 2013 06:58

    12

    awesome evil genius! thanks for the sharing and nice vid! Subscribed!

    0
    • Spence

      Monday, January 7th, 2013 11:35

      13

      Hi Y. Alfred,
      great to have you on board… hope to see you again ;-)

      0
  • Tim

    Tuesday, January 8th, 2013 11:19

    14

    Dear Dainis Graveris,
    What has happened to this site? Has it been sold to someone? There used to be helpful design and development articles. Now there are random articles and unrelated topics and 12-step programs. This site also used to have a nice layout and now it is boring. I am leaving now.

    0
    • Dainis Graveris

      Tuesday, January 8th, 2013 15:30

      16

      Hey Tim,
      oh no it hasn’t bee sold! Hell no!

      It seems like you haven’t visited for a while, reason why design now is boring, is because we optimised it to be faster, but we lost a lot of design elements because of that. New design is still coming..we have been working very hard on it, fully responsive and it will be really fast! Existing design is not what we wanted, but just something that works..for now..

      There is no random articles, instead we received a lot of people questions on freelance advice, and we understood we need to start out from basics and polish everything for basics and then keep moving further. Don’t worry, we are moving step further with videos and we are coming even stronger back now.

      What kind of content you are missing exactly Tim? Because we still mix in tutorials and design industry information – like latest state of wordpress themes! What seems wrong for you, please let me know!

      0
  • Fred Vladova

    Friday, January 4th, 2013 12:12

    3

    These videos are good for people who are just starting to launch a business, and I’m sure there are many out there. There’s an opportunity here to provide a guided worksheet to determine personal needs, regional opportunities and career A/B planning. I found references to working from a ski lodge trite, on the negative side.

    The product vs. service definition may leave some newcomers a bit dizzy, further citing examples might help to keep the learning all on the same level.

    Add to this a link to deliver a drilldown into the subject, and it would be complete.

    0
    • Spence

      Friday, January 4th, 2013 14:15

      4

      Hi Fred,
      thanks for the thoughtful feedback.

      These videos may seem a bit out of context as we sit here today, on January 04, 2013…but that’s because we are using them as an entre’ into something much bigger here at 1stWebdesigner.com

      You will see shortly how it will all come together with a more in-deptch set of course materials, e-books, and top-level overview of the “big picture”. Till then, I hope you absorb what resonates, and don’t sweat the rest.

      I was not actually being trite or sarcastic…though I did put a little dig into Dainis, given that he is well known for enjoying the freedom and financial security from the success he has created here at 1stWebDesigner. Maybe not at a ski resort, but definitely on a gorgeous overlook of the ocean in Tenerife Spain for half a year (instead of cold Riga Latvia).

      There are many well-known freelancers who “do” actually make their living from an ocean or mountain resort, and it is 100% possible. As long as one has a good internet connection and a laptop….the world is your office ;-)

      0
  • Waheed Akhtar

    Friday, January 4th, 2013 11:59

    2

    Nice video. Couple of ideas clicked my mind after watching this video. You guys doing awesome job.

    0
    • Spence

      Friday, January 4th, 2013 14:17

      5

      Thanks Waheed,
      glad you are coming back and participating in our community!

      Cheers,
      spence

      0
  • Xaka

    Friday, January 4th, 2013 15:43

    7

    This was helpful! I took the time to write out my financial needs and goals and I now have a precise idea of how much I want to make in order to live the life I’m working to create. How wonderful! A part of me had always been a bit afraid to see the numbers, but I’m past that, now. I wrote out my answers to every point you brought up in the video and I feel that this was an important step for my development. I’ve been stuck for years on the money-making, marketing aspect and I think I’ve gotten over a final, emotional hump. Thank you!

    0
    • Spence

      Friday, January 4th, 2013 17:18

      8

      H Xaka,
      I’m glad to hear you were brave enough to move forward! That’s always the hardest part..taking the first steps ;-)

      0
    • waleedtahir

      Sunday, January 6th, 2013 12:27

      9

      I’m glad to hear you were brave enough to move forward! That’s always the hardest part..taking the first steps ;-)

      0
  • Divyansh

    Tuesday, January 8th, 2013 12:01

    15

    hi spence
    Nice article to read specially the point of dividing goal by 12. But still worried about about inflation because it will fail the target by the end of year. :D

    0
    • Spence

      Tuesday, January 8th, 2013 23:24

      17

      Hi Divyansh,

      Think of it more like dividing a pie into the number of family members who want to eat. Chances are good that grandma is not going to finish her piece, and uncle Fred is going to want to eat her leftovers. Either way, the pie typically gets eaten in its entirety ;-)

      Same thing for your budget. If you set a general goal by month, that is derived from splitting the year into 12 parts, you’ll have some months you do better…some month worse… but it will usually average out by the end.

      0
  • Jason

    Saturday, January 12th, 2013 10:04

    25

    Good scheduling and organization of every task that one perform can lead to successful freelancing. Set short term goals that can be achieved with in a month.

    0
    • Spence

      Monday, January 14th, 2013 22:20

      28

      Hi Jason, welcome.

      Agreed that it’s critical to keep a long term target…but short term progress goals. That way one can stay focused and motivated, with a sense of accomplishment along the way.

      0
  • zabzan

    Monday, January 14th, 2013 02:40

    26

    Thank you very much. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Monday, January 14th, 2013 22:20

      29

      Yep Zabzan,
      like any good journey, having your destination in mind makes it possible to focus on enjoying the ride ;-)

      0
  • martin

    Wednesday, January 9th, 2013 05:13

    18

    Nice video and well said! Subscribed.
    Have a great 2013

    0
    • Spence

      Wednesday, January 9th, 2013 10:50

      19

      Best wishes to you as well Martin. Thanks for coming by, and hope to see you back ;-)

      0
  • Bob

    Wednesday, January 9th, 2013 14:45

    20

    First of all: best wishes Spence!

    Regarding your post: interesting and above all, simple tips. Besides that, I think you need a certain vision and trust for your ideas.

    0
    • Spence

      Friday, January 11th, 2013 01:19

      23

      Best wishes Bob… please help us understand your thoughts about needing vision and trust…

      0
  • Robert

    Friday, January 11th, 2013 00:24

    22

    Thanks for the nice video Spence :)
    I am working really hard as a freelancer for this year since I have many goals to be reached. Hope you would get an awesome 2013 too :)

    0
    • Spence

      Monday, January 14th, 2013 22:19

      27

      Thanks Robert!!

      0
  • Abdul Rahman

    Thursday, January 10th, 2013 05:33

    21

    Its good to learn the basics of freelancing, some of the ideas you mentioned are viable in 2013. I still believe working as a freelancer is risky in the beginning because nobody wants to hire new talent but once you succeed in getting three to four successful jobs than the path is wide open with opportunities. I guess we need to lean how to market properly our services and get over setting budgets once we manage to get a client.

    0
    • Spence

      Friday, January 11th, 2013 01:21

      24

      Hi Abdul,
      you have a good point about risk. Yet, I would like you to consider that there is almost nothing in life without the perception of “risk”…and that’s what it usually is… perception.

      Comparing the objective facts will lead to a conclusion that it is less “risky” to set your own course in many cases than to take what appears at first to be a “safe” bet.

      0
  • zabzan

    Monday, January 14th, 2013 02:40

    26

    Thank you very much. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Monday, January 14th, 2013 22:20

      29

      Yep Zabzan,
      like any good journey, having your destination in mind makes it possible to focus on enjoying the ride ;-)

      0
  • Jason

    Saturday, January 12th, 2013 10:04

    25

    Good scheduling and organization of every task that one perform can lead to successful freelancing. Set short term goals that can be achieved with in a month.

    0
    • Spence

      Monday, January 14th, 2013 22:20

      28

      Hi Jason, welcome.

      Agreed that it’s critical to keep a long term target…but short term progress goals. That way one can stay focused and motivated, with a sense of accomplishment along the way.

      0
  • Robert

    Friday, January 11th, 2013 00:24

    22

    Thanks for the nice video Spence :)
    I am working really hard as a freelancer for this year since I have many goals to be reached. Hope you would get an awesome 2013 too :)

    0
    • Spence

      Monday, January 14th, 2013 22:19

      27

      Thanks Robert!!

      0
  • Abdul Rahman

    Thursday, January 10th, 2013 05:33

    21

    Its good to learn the basics of freelancing, some of the ideas you mentioned are viable in 2013. I still believe working as a freelancer is risky in the beginning because nobody wants to hire new talent but once you succeed in getting three to four successful jobs than the path is wide open with opportunities. I guess we need to lean how to market properly our services and get over setting budgets once we manage to get a client.

    0
    • Spence

      Friday, January 11th, 2013 01:21

      24

      Hi Abdul,
      you have a good point about risk. Yet, I would like you to consider that there is almost nothing in life without the perception of “risk”…and that’s what it usually is… perception.

      Comparing the objective facts will lead to a conclusion that it is less “risky” to set your own course in many cases than to take what appears at first to be a “safe” bet.

      0
  • Bob

    Wednesday, January 9th, 2013 14:45

    20

    First of all: best wishes Spence!

    Regarding your post: interesting and above all, simple tips. Besides that, I think you need a certain vision and trust for your ideas.

    0
    • Spence

      Friday, January 11th, 2013 01:19

      23

      Best wishes Bob… please help us understand your thoughts about needing vision and trust…

      0
  • martin

    Wednesday, January 9th, 2013 05:13

    18

    Nice video and well said! Subscribed.
    Have a great 2013

    0
    • Spence

      Wednesday, January 9th, 2013 10:50

      19

      Best wishes to you as well Martin. Thanks for coming by, and hope to see you back ;-)

      0
  • Divyansh

    Tuesday, January 8th, 2013 12:01

    15

    hi spence
    Nice article to read specially the point of dividing goal by 12. But still worried about about inflation because it will fail the target by the end of year. :D

    0
    • Spence

      Tuesday, January 8th, 2013 23:24

      17

      Hi Divyansh,

      Think of it more like dividing a pie into the number of family members who want to eat. Chances are good that grandma is not going to finish her piece, and uncle Fred is going to want to eat her leftovers. Either way, the pie typically gets eaten in its entirety ;-)

      Same thing for your budget. If you set a general goal by month, that is derived from splitting the year into 12 parts, you’ll have some months you do better…some month worse… but it will usually average out by the end.

      0
  • Tim

    Tuesday, January 8th, 2013 11:19

    14

    Dear Dainis Graveris,
    What has happened to this site? Has it been sold to someone? There used to be helpful design and development articles. Now there are random articles and unrelated topics and 12-step programs. This site also used to have a nice layout and now it is boring. I am leaving now.

    0
    • Dainis Graveris

      Tuesday, January 8th, 2013 15:30

      16

      Hey Tim,
      oh no it hasn’t bee sold! Hell no!

      It seems like you haven’t visited for a while, reason why design now is boring, is because we optimised it to be faster, but we lost a lot of design elements because of that. New design is still coming..we have been working very hard on it, fully responsive and it will be really fast! Existing design is not what we wanted, but just something that works..for now..

      There is no random articles, instead we received a lot of people questions on freelance advice, and we understood we need to start out from basics and polish everything for basics and then keep moving further. Don’t worry, we are moving step further with videos and we are coming even stronger back now.

      What kind of content you are missing exactly Tim? Because we still mix in tutorials and design industry information – like latest state of wordpress themes! What seems wrong for you, please let me know!

      0
  • Y. Alfred

    Monday, January 7th, 2013 06:58

    12

    awesome evil genius! thanks for the sharing and nice vid! Subscribed!

    0
    • Spence

      Monday, January 7th, 2013 11:35

      13

      Hi Y. Alfred,
      great to have you on board… hope to see you again ;-)

      0
  • waleedtahir

    Sunday, January 6th, 2013 12:29

    10

    Simple, but effective tips. A lot of freelancers tend to live in the moment, but long-range planning helps you get out of your office and get some business. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Monday, January 7th, 2013 01:34

      11

      Exactly.
      You wouldn’t set off on a mountain hike without knowing where you were going, or what to do once you arrived…so why would you do that with your livelihood?

      0
  • Xaka

    Friday, January 4th, 2013 15:43

    7

    This was helpful! I took the time to write out my financial needs and goals and I now have a precise idea of how much I want to make in order to live the life I’m working to create. How wonderful! A part of me had always been a bit afraid to see the numbers, but I’m past that, now. I wrote out my answers to every point you brought up in the video and I feel that this was an important step for my development. I’ve been stuck for years on the money-making, marketing aspect and I think I’ve gotten over a final, emotional hump. Thank you!

    0
    • Spence

      Friday, January 4th, 2013 17:18

      8

      H Xaka,
      I’m glad to hear you were brave enough to move forward! That’s always the hardest part..taking the first steps ;-)

      0
    • waleedtahir

      Sunday, January 6th, 2013 12:27

      9

      I’m glad to hear you were brave enough to move forward! That’s always the hardest part..taking the first steps ;-)

      0
  • Fred Vladova

    Friday, January 4th, 2013 12:12

    3

    These videos are good for people who are just starting to launch a business, and I’m sure there are many out there. There’s an opportunity here to provide a guided worksheet to determine personal needs, regional opportunities and career A/B planning. I found references to working from a ski lodge trite, on the negative side.

    The product vs. service definition may leave some newcomers a bit dizzy, further citing examples might help to keep the learning all on the same level.

    Add to this a link to deliver a drilldown into the subject, and it would be complete.

    0
    • Spence

      Friday, January 4th, 2013 14:15

      4

      Hi Fred,
      thanks for the thoughtful feedback.

      These videos may seem a bit out of context as we sit here today, on January 04, 2013…but that’s because we are using them as an entre’ into something much bigger here at 1stWebdesigner.com

      You will see shortly how it will all come together with a more in-deptch set of course materials, e-books, and top-level overview of the “big picture”. Till then, I hope you absorb what resonates, and don’t sweat the rest.

      I was not actually being trite or sarcastic…though I did put a little dig into Dainis, given that he is well known for enjoying the freedom and financial security from the success he has created here at 1stWebDesigner. Maybe not at a ski resort, but definitely on a gorgeous overlook of the ocean in Tenerife Spain for half a year (instead of cold Riga Latvia).

      There are many well-known freelancers who “do” actually make their living from an ocean or mountain resort, and it is 100% possible. As long as one has a good internet connection and a laptop….the world is your office ;-)

      0
  • Waheed Akhtar

    Friday, January 4th, 2013 11:59

    2

    Nice video. Couple of ideas clicked my mind after watching this video. You guys doing awesome job.

    0
    • Spence

      Friday, January 4th, 2013 14:17

      5

      Thanks Waheed,
      glad you are coming back and participating in our community!

      Cheers,
      spence

      0
  • Michael

    Friday, January 4th, 2013 09:54

    1

    Simple, but effective tips. A lot of freelancers tend to live in the moment, but long-range planning helps you get out of your office and get some business. When you arrive at a revenue goal, it’s a lot easier to figure out how you’re going to get there.

    0
    • Spence

      Friday, January 4th, 2013 14:21

      6

      Hi Michael,

      Good points! I’m a big fan of playing it “by ear”, but sometimes just a little thought about where my meandering is going to lead….helps me to at least go in that general direction, instead of wandering in circles. Starting with the question of “how much” and what “to do” with one’s rewards are helpful in that regard.

      0

Comments are closed.

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