- Freelancing Field Notes By Freelancing Females
- Posts
- FFN 55: Go from $50K to $500K
FFN 55: Go from $50K to $500K
Here are the not-so-secret tips from the highest-earning independent marketing and creative businesses.
Go from $50K to $500K, like this šš½
Itās no secret that we would all LOVE to earn more. So how do we do just that? Well, our friends at HoneyBook have been going through the new research from the Harris Poll with a fine toothcomb. The research revealed what the top-earning marketing and creative professionals are doing to earn 6-figures and beyond - weāre talking up to $500K! This week, letās explore what the research found and how the new HoneyBook tool can help you achieve the same.
Time to get into the meat and potatoes of what the report foundā¦
Donāt let anyone tell you that you are too āemotionalā about your business. A founderās passion is the biggest asset a business can have
š¤³š½ Passive Income, Massive Impact
High earners generate 25% of their income from passive sources. The report found the highest earners diversify their revenue streams. For the top businesses, 15% of their revenue comes from selling memberships and subscriptions, 13% from workshops and courses, and 12% from digital products.
šø Make half of your revenue in a quarter of the time!
The highest earners generate 50% of their revenue with 25% of their time. Top earners generate more than half of their revenue from repeat clients, who only require 26% of their time to maintain.
āØ Itās not about the money!
If thereās one thing all businesses agree on, itās that passion led them here. The report found that 73% of high earners work for reasons other than money. The number one reported reason for starting a business is to pursue a passion (44%), followed by flexibility (16%), and autonomy over their career (12%).
Our Pick: HoneyBookās Growth Guide
We love seeing what other successful entrepreneurs are doing to make $$ because spoiler alert, now you can do it too thanks to HoneyBooks Growth Guide.
Their guide helps entrepreneurs just like you grow your marketing and creative businesses to six figures and beyond! Once you jump into the Growth Guide, you can calculate your earning potential based on the years you have been in business and the number of employees you have. Their amazing tool will help calculate your revenue range so you can see exactly where you stand.
 |  |
 |  |