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Real Freelance Business Cards to Inspire You

  Business playing cards for freelancers may be just as critical in the commercial enterprise international as they're for an ordinary workplace employee elderly 9 to five. Especially because the commercial enterprise world continues to embody and encourage the rise of freelancers. Even as our global becomes increasingly more digital, there will by no means be a time while we do not have face-to-face interactions...Nicely, by no means say in no way, I wager. But as of these days (minus the complete quarantine issue), there is nonetheless loads to be received from having standalone business playing cards. In this text, we're going to give you some great examples to jumpstart your creativity, then observe a way to make your very own standalone commercial enterprise playing cards and in which to print them. Let's try this! Featured Image for: 14 Real Freelance Business Cards To Inspire You (And How To Make Your Own) 14 Freelance Business Cards That Will Stimulate Your

Performance indicators to evaluate your business

There are many ways to measure the success of a freelance business. For example, how much money are you getting for your services? However, there are other aspects to consider where the performance indicators (KPIs) come into play. techwadia

In this article, we will see:

  • KPI examples for freelancers
  • KPIs types
  • What KPIs to use as a freelancer?

The performance indicators or KPIs (in English, key performance indicators or KPIs ) to measure the development of the business and analyze if we are to evolve appropriately.

If we look for KPI examples, we will find different aspects that can be considered:

  • Number of clients
  • The income per hour of work
  • Profitability of marketing actions
  • Written words per hour

Each business defines the most relevant indicators for them precisely. 

The performance indicators or KPIs are a simple way to control the trajectory of your business in the short and long term.

In addition, they allow you to intervene in a specific area if it is not working as it should. For example, they will help you identify if you are spending too much time on something not worth it. So this way, it will be likely to improve your productivity as a freelancer.

On the other hand, don't forget that performance indicators should be defined according to the SMART technique

That is, each KPI has to be S - specific, M - measurable, A - achievable, R - relevant, and T - have a deadline. Also, this is the only method we can measure and compare evolution.

It is essential to remember that KPIs are not results but a value that tells us why and what an outcome will serve us.


These are values ​​that must be defined in the strategic business plan. They are often summarized in a dashboard that shows the various vital indicators at a glance.

An example could be: Increase sales by 20% thanks to the creation of an online store.

KPI Examples for Freelancers

# 1 Benefit

The benefit is a clear indicator of how your business is running. Of course, be careful because the user can be very different from the total income.

Profit is the money that comes into your pocket, after taxes and business expenses. Controlling this profit will help your business in several ways.

On the one hand, it will help you identify “lazy periods.” That is those months in which you generally have less work and therefore less income.

On the other hand, it is an excellent long-term indicator to see how your business develops over time.

If you discover trouble keeping track of your monthly income, it may be interesting to use one of the accounting software or applications available.

Here are some options:

•BonsaiQuickbooks

•Freshbooks

•Zipbooks

 

# 2 Growth

To identify how your business is doing in the long term, you will need to measure growth. You can calculate it by dividing the benefits by month or by year with the previous period. 

Simplifying with an example:

Assuming you earned 100,000 euros last year and 125,000 euros this year, you will get a value of 1.25. Positive growth, but enough?

Depending on your business situation and objectives, you can interpret this value and decide if the growth is acceptable. 

If you are looking for higher growth, try to achieve an upward trend year after year (if you analyze it in monthly value, the information will be too skewed and not as helpful).

So if you are happy with the result, you should not forget about this performance indicator either. It helps if you also plan to keep it constant (or increase it slightly to compensate for possible financial events like inflation and more expenses).  

# 3 Hourly rate per customer

We know that we can charge clients a price per hour, per project, or parts of the project. But breaking down the hourly rate per customer can be a good performance indicator

Calculating this value when you do not charge directly by the hour is simple.

Record the time you spend on a particular project and divide the profit by the hours you invested. By doing this with different clients, in the end, you will get a list with a wide (or not so wide) range of rates.

At the top will be the clients who pay the most for your time and services (the most valuable clients).

At the bottom are those clients who consume a large part of your time but do not help you financially.

Yes, all freelancers have clients they have worked with for a long time and have not raised their prices.

Of course, your goal will be to change customers from the bottom to customers from the top.

When you are in business for a specific time, let's say one or two years, repeat the process to get the hourly price to increase and, therefore, your profit.

# 4 Social Networks

With the help of the previous indicators, you can analyze if your marketing plan in social networks is effective.

For example, if you use Twitter to attract customers, how many customers have you gotten through this channel?

Compare this value with that of another channel. For example, with clients who have come from a freelancer portal such as freelancermap.com.

Also, what kind of clients have you gotten via Twitter? Are they on your list with lower hourly rates?

In this case, you may be interested in rethinking your strategy or leaving your plan on that social network.

It helps if you analyze all the social networks that you are using. You use Instagram or LinkedIn more; what are the results there?

Some examples of performance indicators that you could use to analyze your social media plan would be:

  • Traffic to the website of each campaign on social media
  • Spend-per click (if you're using Facebook ads, for example)
  • Growth in the number of followers
  • Engagement (How many followers interact with your posts?)
  • Direct messages from potential customers on each network

However, do analyze social media KPIs in a measured way. There may be a temptation to overestimate specific parameters that are not so important.

Some of these parameters are included in "Vanity KPIs." For instance, the number of followers or the number of likes

These numbers are less important than the number of leads generated or the traffic directed to your portfolio. However, many people highly value these numbers. 

KPIs types

The above list of some of the ways you could track your business growth using key

performance indicators.

There are innumerable factors that can help you effectively measure and evaluate its growth. 

Other key performance indicators would be: 

  • Customer achievement costs (that is, how much you have spent on advertising compared to how many customers you have acquired using these methods)
  • Funnel delivery rate (how many potential customers leave your website sales to funnel without converting / without hiring you / without contacting you)
  • The regular number of hours on onboarding clients
  • Marketing outside of social media PPC, SEO, etc
  • Leads generated/converted to customers (sales KPI)
  • Inventory turnover (only applies if you sell physical products as a freelancer)

In addition, it is common to distinguish different types of these key performance indicators :

# 1 Diagnostic indicators

They allow a company to compare its current situation with the planned situation. These indicators make it easy to identify unwanted changes.

Some KPIs within this category would be Planning delays,% completion, or cost variance. 

# 2 retrospective indicators

They are metrics that give us insight into what has already been done. That is, we must look to the past to gather information on the execution of a project.

Within the retrospective KPIs we could analyze the costs executed in the project so far, the amount invoiced, or the product delivered.

# 3 Predictive indicators

These indicators allow estimating the final situation of the project considering historical data and current data. The objective is to be able to anticipate possible problems or risks.

Some concrete examples that fall into this typology are the estimation of the end date of the project or the cost of financing.

What KPIs to use to measure the growth of your business?

Deciding which of these KPI examples to use to track your business growth depends entirely on your objective.

Of course, from a business perspective, it makes more sense to track your financial growth through your earnings, cash flow, and hourly rate.

So you could focus on financial KPIs first.

However, once you get to a point where financial growth is not a key priority, it could change your goal.

At this point, you could focus on efficiency (time over money)customer satisfaction, and conversions. These indicators allow you to better track the success of your business over time.

Ultimately, performance indicators can help you determine what is working and what is not and act accordingly.

Each freelancer analyzes these indicators unconsciously, but studying with the actual numbers will give you an objective perspective, without excuses, or seeing everything in a rosy color.

 venturebeatblog  beautymagnetism  beautyation  charismaticthings  businessknowledgetoday

 

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