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What is a balanced freelance portfolio? ๐Ÿ‘€

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What is a balanced freelance portfolio? ๐Ÿ‘€

by Wishu
22 September 2020

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A ๐—™๐—ฟ๐—ฒ๐—ฒ๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฃ๐—ผ๐—ฟ๐˜๐—ณ๐—ผ๐—น๐—ถ๐—ผ is similar to a financial portfolio. A financial portfolio spreads your money across multiple investments with varying levels of risk and return…
๐—ง๐—ต๐—ฒ ๐—ด๐—ผ๐—ฎ๐—น is to diversify what you hold to provide maximum income while protecting you from the ever changing marketโ€™s volatility.
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Your Freelance Portfolio helps you balance the risks and rewards of your freelance life. It helps you balance the risks and rewards of your freelance life.

๐—ง๐—ต๐—ฒ ๐—ณ๐—ฟ๐—ฒ๐—ฒ๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฝ๐—ผ๐—ฟ๐˜๐—ณ๐—ผ๐—น๐—ถ๐—ผ ๐—ต๐—ฎ๐˜€ ๐—ณ๐—ผ๐˜‚๐—ฟ ๐—น๐—ฒ๐˜ƒ๐—ฒ๐—น๐˜€:

๐—Ÿ๐—ฒ๐˜ƒ๐—ฒ๐—น ๐Ÿญ: ๐—•๐—น๐˜‚๐—ฒ ๐—ฐ๐—ต๐—ถ๐—ฝ๐˜€
The core of your Freelance Portfolio. Like so-called blue-chip stocks, theyโ€™re your buy-and-hold investments: major clients (large or small in size) that provide regular income and work.

๐—Ÿ๐—ฒ๐˜ƒ๐—ฒ๐—น ๐Ÿฎ: ๐—š๐—ฟ๐—ผ๐˜„๐˜๐—ต ๐—ถ๐—ป๐˜ƒ๐—ฒ๐˜€๐˜๐—บ๐—ฒ๐—ป๐˜๐˜€
The growing edge of your business and the incubator of Blue Chips, Level 2s come from referrals, client testimonials, maintaining your network, and cultivating new contacts and prospects.

๐—Ÿ๐—ฒ๐˜ƒ๐—ฒ๐—น ๐Ÿฏ: ๐—ข๐—ป๐—ฒ-๐˜€๐—ต๐—ผ๐˜๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—น๐—ผ๐—ป๐—ด ๐˜€๐—ต๐—ผ๐˜๐˜€
Opportunistic gigs that fill time or income gaps.

๐—Ÿ๐—ฒ๐˜ƒ๐—ฒ๐—น ๐Ÿฐ: ๐—ก๐—ฒ๐˜„ ๐˜ƒ๐—ฒ๐—ป๐˜๐˜‚๐—ฟ๐—ฒ๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ด๐—ฟ๐—ผ๐˜„๐˜๐—ต
In Level 4, youโ€™re building the services, products, and alliances that will produce income in the long-term future.

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๐—Ÿ๐—œ๐—™๐—˜ ๐—œ๐—ก ๐—ง๐—›๐—˜ ๐—•๐—”๐—Ÿ๐—”๐—ก๐—–๐—˜๐—— ๐—Ÿ๐—”๐—ก๐—˜
What does a balanced Freelance Portfolio look like? Hereโ€™s what it doesnโ€™t look like (and what you can do about it):

Imbalance: Your pipelineโ€™s full, youโ€™re working like crazy, but barely making ends meet.
Rebalance: Reassess your portfolio for Goal 1.

Imbalance: Youโ€™re making a decent income, but the payments are so far apart you struggle to meet your monthly expenses.
Rebalance: Focus on Goals 1 and 2.

Imbalance: Youโ€™ve got some great clients and gigs, but the moneyโ€™s lousy.
Rebalance: Returning all three goals may be necessary.

Portfolio planning isn’t just about how busy you are, but about finding a client mix that delivers maximum value for your time and effort. This boils down to a ๐—ต๐—ฎ๐—ป๐—ฑ๐˜† ๐—ฒ๐—พ๐˜‚๐—ฎ๐˜๐—ถ๐—ผ๐—ป:

Optimal clients + steady cash flow + meeting your income goals = ๐—ฏ๐—ฎ๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ๐—ฑ ๐—ณ๐—ฟ๐—ฒ๐—ฒ๐—น๐—ฎ๐—ป๐—ฐ๐—ฒ ๐—ฝ๐—ผ๐—ฟ๐˜๐—ณ๐—ผ๐—น๐—ถ๐—ผ

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๐—•๐—˜๐—ก๐—˜๐—™๐—œ๐—ง๐—ฆ ๐—ข๐—™ ๐—” ๐—•๐—”๐—Ÿ๐—”๐—ก๐—–๐—˜๐—— ๐—ฃ๐—ข๐—ฅ๐—ง๐—™๐—ข๐—Ÿ๐—œ๐—ข:

  1. ๐—ก๐—ผ ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—น๐—ถ๐˜ƒ๐—ถ๐—ป๐—ด ๐—ฝ๐—ฟ๐—ผ๐—ท๐—ฒ๐—ฐ๐˜-๐˜๐—ผ-๐—ฝ๐—ฟ๐—ผ๐—ท๐—ฒ๐—ฐ๐˜. Changeable schedules are part of freelance life.
  2. ๐—ก๐—ผ ๐—บ๐—ผ๐—ฟ๐—ฒ โ€œ๐—ฝ๐—ถ๐—ฝ๐—ฒ๐—น๐—ถ๐—ป๐—ฒ ๐—ฝ๐—ฒ๐—ฟ๐˜€๐—ฝ๐—ฒ๐—ฐ๐˜๐—ถ๐˜ƒ๐—ฒ.โ€ A full pipelineโ€™s only as good as the project in it. Your portfolio lets you weigh your projects and craft a mix that serves your income goals.
  3. ๐—ก๐—ผ ๐—บ๐—ผ๐—ฟ๐—ฒ โ€œ๐—ข๐—ผ๐—ฝ๐˜€, ๐—ณ๐—ผ๐—ฟ๐—ด๐—ผ๐˜ ๐˜๐—ผ ๐—ป๐—ฒ๐˜๐˜„๐—ผ๐—ฟ๐—ธ.โ€ If you donโ€™t divide your time between looking for new work and doing your current work, youโ€™ll finish your project and be tearing your hair because you don’t have any work lined up. Your portfolio lets you track your workload, anticipate quiet periods, and ramp up your marketing.
  4. ๐—ก๐—ผ ๐—บ๐—ผ๐—ฟ๐—ฒ โ€œ๐—ณ๐—ถ๐—ฟ๐—ฒ, ๐—ฟ๐—ฒ๐—ฎ๐—ฑ๐˜†, ๐—ฎ๐—ถ๐—บ.โ€ Your portfolio lets you see holes and change your goals – whether it’s landing or replacing a Blue Chip, growing your network, increasing your cash flow, or building your future with new products or services.

There are two sides of freelancing: the freedom of it, and the responsibility of it. There are really ywp sides of the same coin, and the Freelance Portfolio unites them. Your Freelance Portfolio gives you the freedom to live the life you love – and to spread the love around – whole fulfilling your professional and personal responsibility to make a living and do it well.



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