A freelancer who’s earned over $2 million says 2 basic strategies helped him build his business

A freelancer who’s earned over $2 million says 2 basic strategies helped him build his business

• Freelance animator and voice actor Joel Young has earned over $2 million from his business.
• By keeping a budget, he’s ready to better plan for the ebb and flow of freelance income.
• And, by being debt-free in his personal life, he’s been ready to be more flexible in his business.
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• Entrepreneur Joel Young has made good money habits a priority in both his personal and professional lives.

As a business owner, he’s employed as a contract voice actor and animator. Since starting his business 15 years ago, he’s learned a couple of things about money that have helped him along the way.

There are the 2 money rules he lives by that have helped his family thrive — and helped him grow his business to a complete of $2 million in revenue.

1. He keeps a budget and sticks thereto , in both his personal and professional lives

“Budgeting may be a big a part of my life and always has been, a minimum of for the last 10 or 12 years where my wife and that i are trying to urge out of debt and stay out of debt,” he told Insider. To other prospective freelancers, he said, “Have an idea for your money and confirm that you simply know what’s most vital first.”

When starting his business, which he runs primarily through Fiverr, he did so with a budget in mind. “When I started this business, I started it with hand-me-down equipment that I had in my closet that was 15 years old,” he said. “I could have easily gone out and spent money on a camera on a mastercard that I did not have , but i made a decision to use my iPhone for a year, and ran a business that made $35,000 that first year with an iPhone and an Ikea lamp.”

Keeping a decent budget are some things he follows in his personal life also . “There are those months as a freelancer where you’ve got such a lot work that you simply do not know what to try to to with it, or even your income goes up 25%, 50%, or 75%. there is a temptation to mention , ‘Wow, we did rather well this month. Let’s spend it all; we will leave and obtain this which .’ But you would like to understand you’ve got to save lots of for the days once you have low months.”

Budgeting helps Young but those months, and it’s something he says is particularly important for anyone else living on an inconsistent income.

2. He’s committed to staying debt-free, and it’s helped increase his professional flexibility

Young found that becoming freed from consumer debt in 2013 wasn’t only an enormous personal achievement, but also a crucial professional one as a business owner.

In part, it means he is not as worried about his budget, since he is not pouring cash into high-interest credit-card debt. “We’ve always been committed to living a debt-free lifestyle, and it lowers our liability and our expenses,” he said.

Ultimately, he found that paying off debt opened more opportunities for him and allowed him more flexibility in his business. “We do not have to form the maximum amount money and kill ourselves working many hours every week because we do not have a bunch of debt hanging around our neck,” he said.

By being debt-free, Young says he’s been ready to combat more flexibility in his work, helping him choose more lucrative projects and say no when a project isn’t right for him.

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Originally published at https://techwibi.blogspot.com.