Why Are Business Investment Strategies Important?
In order for any business to grow, it needs investment. This includes freelance businesses too. So if you’re serious about growing your business as a freelancer, there are some business investment strategies you should consider implementing. Here are a few suggestions:
1. Get A Website: Business Investment Strategy 1
Your website is like your digital shop front. Having social media alone is not enough to present your business.
Your website is your professional presentation of your business and is the place where clients and potential clients should be able to find all they need to know about what you do and how they can contact you.
Investing in a website is a major and key investment into your business if you want to take it seriously.
I use WordPress and Bluehost to build my website and it was a pretty simple process. When I do need help, their team is available to help and answer questions via live chat.
2. Domain Email
Having an email domain name that is linked to your website domain also helps you to look more professional to clients.
When investing in your website, your website provider should have an option for you to choose a range of email providers to create an email address.
I personally find Google the best as they have Google drive which is great for storing and sharing work documents.
3. Education
In order to grow your business, you have to grow your knowledge in it. Investing in courses is a great place to start as it allows you to dive deep into a particular topic from someone who has done this same thing themselves.
It also helps you save time as a group of information is in one place.
My Beginner Freelancer E-course gives those just starting out on their freelance journey and talks about strategies for landing retainer clients, setting up your website, and more!
4. Time
Investing isn’t always financial. How you invest your time is also a key part of growing your business as a freelancer. Invest your time mining your business.
Whether that’s with admin, making sure you are on top of your business. These may not always require money investment, but it does require you to invest your time doing this.
5. Business Insurance
Investing in business insurance is also a business investment strategy worth considering.
Depending on which business insurance you go with, your business insurance can protect the equipment you use to do your work, such as your laptop if it’s damaged, and can send you a replacement until it’s fixed.
It can also help cover you financially in the unfortunate event of whether you are sick. This point is particularly useful for freelancers as we are often in a unique situation where, by nature, if we don’t work, we don’t get paid.
6. Pensions
You’re never too young to start a pension! Even if you’re putting in as little as £1 a month, this helps you get into the mindset that you are preparing and investing in your future.
When you have a pension in the UK, you can get tax bonuses added to your pension pot various times throughout the year.
I use Penfold for my pension pot. You can sign up to Penfold using my affiliate link here!
7. Outsourcing: Business Investment Strategy 7
As a freelancer, you often do things on yourself, but there may be tasks from time to time that may be better if you outsource help from other freelancers.
This can actually take more time off of your hands, allowing you to make your time more effective focused on other things.
View outsourcing as an investment to help your business grow at a faster pace. When you do everything by yourself, it can make the rate at which your freelance business grows, slower.
I hope these business investment strategies help you on your journey to growing your freelance business.
