Starting your own business or getting out of a slump from the one you have can seem like a daunting endeavour. There is so much to do, learn, implement, etc and perfectionism usually gets to the best of us. But it doesn’t have to be that way.
Whether you are just starting freelancing or your current business isn’t bringin’ in the income you need, the steps to make it happen are actually quite simple.
I see people all.the.time. trying to overcomplicate things. But here’s the reality:
Making money is just about discovering what you can do, what people will pay you for, and a way to get in front of those people.
I get asked often, how to get out of a freelance slump (or get started in the first place). I wrote a post about my favorite 5 ways to do so here. One of those ways is creating a new niche services and that’s what I’ll be talking about in this mini-series.
I want to show you how easy it can really be. And there is no better way to do so than by showing you in real-time, with a real person.
Introducing….my Frenchy Mathieu (AKA Mamat).
Mamat is a jazz musician and makes a decent living already with this primary passion of his in France. But, we’ve decided to move back to the US. And in the US (or anywhere for that matter) when you arrive in a new place it can take some time to make connections in the music world and start getting gigs and making money.
The international move (with a little Asia vacation thrown in) also means I won’t be able to take on as many full-website clients and would like to have some other less time-intensive services to offer.
With that in mind Mamat would like to start freelancing online in order to bring in some income, no matter where (or for how long) we are in transition.
Mission: Start Making Money Online / Introduce a New Offering for my Web Design Business.
Here are the steps Mamat is taking with my help so that by the end of the month, he’ll be making income online from an entirely new business/offering.
**Important note: this works if you are just starting OR if you have already started but your current offerings aren’t flying off the shelves and you need something new to bring in some extra income.
Step 1: Determine what skills you have and what you like to do.
Mamat is tech savvy, he’s able to learn new software quickly, and is quite creative. As a musician, he knows how to record and manipulate audio files, create video clips, and choose appropriate music for a brand. He also knows his way around WordPress, CSS & HTML. Recently, he was the cameraman and video editor for Heather and I when we were creating our videos for The LEAP Guide.
So with that in mind, here’s the shortlist he came up with:
- Build websites
- Edit videos
- Compose jingles for videos
- Teach entrepreneurs how to properly record audio and what tools to use.
- Create a course teaching jazz or drum techniques
- Create video intros/outros
Although many of these things interest him, he had to consider his primary objective first and foremost: What is the quickest and easiest way to start making money that I can do from anywhere?
From the list above, he decided his best option was to create short videos like intros/outros for video bloggers.
Lesson: If you want to bring some money in the door fast, whether from your existing business or a new one, create a new niche service you can start selling asap. Meaning, not something that you need 6 months to learn or that is a premium high-priced service that would be harder to convince people to buy.
Step 2: Put feelers out for interest about a specific service.
After deciding on a first idea to try, he needed to make sure it’s a service people are actually looking for and willing to pay for. I certainly needed his service so he started with me and created a first example.
Here is some of the response we got:
Lesson: Clearly, this is something people want and need, so it’s worth moving forward with. If you don’t get this kind of response, go back to your list and choose something else. There is no point in putting a ton of effort into a new service or business without knowing if people need it. Or, to get through this step even faster, put feelers out for 2-3 different services and ask people which one they need.
Besides finding out if people need a service, putting out feelers also gives you an initial interest list of people to contact once the service is ready. Not only do I have these names to go back to, I often grow my newsletter list when I put feelers out like this because people are interested in staying in touch to find out more.
**Important note: Just because people say they are interested, doesn’t mean they’ll take out their wallet when you actually offer it. So if you are really short on time (need money fast), ask some people that told you they were interested to actually pay. This way you’re not wasting more time on the next steps only to find out you can’t actually sell it. In Mamat’s case, he has some time to experiment, so he’s willing to go on to the next steps and take the risk of not being 100% sure people will actually buy.
Step 3: Learn new skills or refine those you already have related to the new niche service.
Now that he has chosen the service he’d like to provide, and gotten a great response that people actually want it, he needed to ensure he had the skill-level necessary to actually execute it.
He researched the tools professional video creators use and found online tutorials and courses to help him advance his skills.
He looked at different video intros/outros that people already had in his target audience, practiced recreating those same effects and found a tutorial on any detail he wasn’t proficient in yet.
Lesson: You don’t need a college education to offer a new service. If you have chosen a service correctly for the objective of making new income fast, it should be something you already have base knowledge of or a similar skillset you just need to refine. If that’s the case, you will likely be able to find help developing the skill on Lynda, Skillshare, or udemy for example.
Coming next week in Part 2: How to get examples for a portfolio, testimonials and first clients who actually pay you!
These first steps should take you 1-3 weeks MAX. Mamat took a little longer because he was just taking time to explore the possibilities. If you are set on bringing in more income, fast, you can do all this in a week or less.
How can you apply this to your business?
Instead of waiting around or pushing harder to market your higher-priced services, find a small problem people need solved now and create a can’t-resist niche solution for it.
As an example: I might not be ready for a 3-month social media management and strategy offer, but I certainly would like someone to create 30 shareables for me right now so I can get that off my plate. Sure, big services bring in the big income over time. But if you need to get out of a slump and make some money fast, keep it simple, keep it small!
Here are some random examples of small niche services you could offer to bring in extra income fast:
Web designer: Google Analytics 1-hour training or SEO optimization for all past blog posts
Copywriter: A naming services for just taglines, product or service names
Writer/Editor: Optin freebie writing services with pdf design included
Social Media Manager: Create quote images with clients’ branding to share on social media.
Videographer/Filmer: Add annotations to all past Youtube videos
Health Coach: Freshdirect weekly grocery shopping (you add it all to the shopping cart online, customer pays and you send recipes that go along with it)
Facebook Advertising expert: Create ad visuals that pass 20% text rule.
Tell me in the comments:
What kind of new niche service could you offer to start bringing in new income fast? And if you’re not sure, tell me what your business is and I’ll put my brainstorming, thinking cap on to help!
Continue reading with the next part in this series: How To Bring In New Income Fast By Offering a New Niche Service: Part Two.
P.S. If you are in need of a professional video intro/outro for your videos (and a steal of deal intro price to boot), be sure to get on the list below to not miss out on Part 2 of this series or let us know in the comments below! (See what I did there, gathering more interest to set Mamat up for success and to see if this is a viable service!)