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5 Reasons You Are Leaving Money on the Table

If I told you that you are leaving money on the table — that you aren’t earning all the money your clients are ready and willing to send your way — how would you feel? If you’re like most freelancers and business owners, you’d feel a bit alarmed. After all, nobody wants to turn down money.

But sometimes we do. Argh!

Here are five common mistakes freelancers and small business owners make that prevent them from making more money:

1. You don’t ask for the testimonial. If you complete one project only to run to the next, without asking for a testimonial, you are leaving money on the table. That’s because good testimonials help instill confidence in prospective clients and even encourage them to buy from you. Everyone wants to see that others like your work and are willing to share their experiences. If you don’t have testimonials, you are losing business.

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How to Increase Your Income Without Landing a New Client

It can always be a mad scramble to identify, court, and land new clients. But what if you could land new business — and new income — without landing a new client? Wouldn’t that be sweet? There actually is a way to do this. To do it, though, you must pay attention to your client’s needs.

When you are wrapping up a project with your current client, consider what other services or products you offer that can add value for your client. Then invite the client to add that product or service to the current project, at a discount or with some special offer. This is an easy way to increase your income without landing a new client. The key is to make sure the offer is relevant and useful to your client. Don’t make an offer just for the sake of making an offer or simply because it will add to your bottom line. You never want your client to feel that you’re out just to make a buck or that you’re just trying to sell something to her regardless of whether she needs it. Make the offer because it can enhance your client’s experience.

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How to Find New Projects When You Are a Freelancer

Freelancers face unique challenges. One of those is the ever-present feast or famine complex. Many freelancers have times of feast where they are working on a project and the money is flowing in. But inevitably, the project ends and they are left scrambling. Then the famine comes. Never a good feeling.

So how can you bring in new money when your project ends and you have nothing on the horizon? Well, of course you can go back to your marketing and get in front of potential new clients. But there is one other thing you can do. You can check in with old clients! Getting repeat business from current or old clients is a lot less expensive and easier than finding wholly new clients. Yet for most of us, when we think of generating new business, our minds immediately go to marketing to new clients.

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