<ul><li class="ql-align-justify">A fixed price project is one where the price of the project is virtually agreed upon before work begins.</li><li class="ql-align-justify">As a sign of commitment from both sides, it is also recommended to take an upfront payment of anywhere between 25 to 50% of the project cost.</li><li class="ql-align-justify">Stay away from projects that is not willing to pay a downpayment because there’s a high chance that the client will disappear after the final email.</li></ul>

How Much Should I Charge? Fixed Price

Set Targets<ul><li class="ql-align-justify">Targets help you make sense of your progress help you move forward and discover what your bigger roles are.</li><li class="ql-align-justify">As a sign of holding yourself accountable, it helps to set tangible targets and goals with realistic timelines and numbers.</li></ul>Secret Formula<ul><li class="ql-align-justify">Tangible goal setting</li><li class="ql-align-justify">Set clear 3 to 6 months goals</li><li class="ql-align-justify">Study quality learning materials</li><li class="ql-align-justify">Work on your skills</li><li class="ql-align-justify">Develop a passion for building things</li><li class="ql-align-justify">Learning how technology works</li><li class="ql-align-justify">Follow advice on bidding and building a personal brand</li><li class="ql-align-justify">Build a network of like-minded friends.</li><li class="ql-align-justify">Keeping your self-disciplined</li></ul>

The Freelancer's Mindset

<ul><li class="ql-align-justify">Teach what you know. Your perspective while just starting out is very different from the perspective of people who've been working on it for years. </li><li class="ql-align-justify">Today, people listen to those who have just started out, people who have an intermediate level of skills, and people who are "almost there", so they can plan their roadmap.</li><li class="ql-align-justify">It's the people creating great stuff and putting it out there. It's the ones who care about their craft and like talking about it online.</li><li class="ql-align-justify">In the age of the internet, you might be great at what you do, but unless you put it out there and help, your presence and impact is nil.</li></ul>

What Do I Create?

<ul><li class="ql-align-justify">Social networking sites</li><li class="ql-align-justify">Hacker News</li><li class="ql-align-justify">Reddit</li><li class="ql-align-justify">Quora</li><li class="ql-align-justify">Deepstash</li><li class="ql-align-justify">Facebook</li><li class="ql-align-justify">Facebook groups</li><li class="ql-align-justify">Twitter</li><li class="ql-align-justify">Threads</li></ul> Whenever you are posting content, be mindful of the community guidelines.Make sure to genuinely contribute to discussions.Use these topics of discussion to come up with an icebreaker when he/she is a prospect.

Where to Promote Contents?

- Explores in-demand online skills and career paths for freelancers- Provides guidance on learning core skills and communicating your value- Covers strategies for landing projects on freelance platforms - Discusses developing a freelancer mindset and personal brand- Offers tips on cold emailing, managing finances, and handling taxes- Addresses common challenges like stress and competition from AI- Shares the authors' journey from freelancing to entrepreneurship

Book Summary

<ul><li class="ql-align-justify">Have creative outlets in a world that is becoming more connected but at the same time, more isolated.</li><li class="ql-align-justify">Entering the freelancing world, you must find and pursue your mission in life rather than strive to become a cog in the machine.</li><li class="ql-align-justify">Step out now and bring the world your unique flavor of passive, creativity, and skills.</li></ul>

How the Pyajama Economy Helps

<ul><li class="ql-align-justify">An hourly billing project is one where you get paid for every hour of work put in.</li><li class="ql-align-justify">Your hourly rate is decided beforehand, a rough budget is agreed-upon, you track your time whenever you work and send the timesheets along with your invoice. The scope here is dynamic.</li></ul>

How Much Do I Charge? Hourly Rate

<ul><li class="ql-align-justify">Platforms are like a training ground where you get paid to get better at your skills.</li><li class="ql-align-justify">Be the best player you can do the best of your capacity and eventually the game will recognize it and reward you when the time is right.</li><li class="ql-align-justify">Where do I land my first project? Aim for REFERRALS from your previous clients.</li></ul>HORIZONTAL PLATFORMS: Freelancing platforms with all kinds of clients, posting all kinds of projects, across the industries and skills.VERTICAL PLATFORMS: Platform for solo business owners, Small and medium sized business, and top companies to find the best freelancers.

The Platform Game

<ul><li class="ql-align-justify">Sales is an integral part of the freelance game.</li><li class="ql-align-justify">Find a list of prospects that might be interested in your freelancing services. Find their email and send personalized emails.</li></ul>Finding Prospects<ul><li class="ql-align-justify">Go to your LinkedIn account, sign up for a FREE 30-day trial, and go to Sales Navigator.</li><li class="ql-align-justify">Filter your leads by identifying your desired demographic and industry. Below is the sample.</li></ul>Demographics: United StatesIndustry: Education, Technology, ArchitectureTitle: CXO, Partner, Owner, Vice PresidentCompany size: 20-1000 Then, create a Google Sheet where you will put the name and email of the prospects.

The Art of Cold Email

<ul><li class="ql-align-justify">You sell the client chunks of your time, one week at a time. So, for example, if you expect a project to take about hundred hours, but it could possibly be more depending on changes and edits, then you can give them a fixed cost per week, with additional weeks if things stretch.</li></ul>

How Much Do I Charge? Hybrid (Weekly Billing)

<ul><li class="ql-align-justify">If you're creating blog posts, you could create a <a href="https://writelerco.com">WordPress site</a> for hosting or you could post them here on Deepstash.</li><li class="ql-align-justify">Experiment with where you host your content and how it affects traffic.</li><li class="ql-align-justify">Two things you must consider if you are creating a personal website: what you want to communicate and how you will communicate.</li><li class="ql-align-justify">Landing page content must be Introduction, Sample Works, and Contact Information.</li></ul>

Where is this content hosted?

<ul><li class="ql-align-justify">The amount of money you can take from this flowing river is the amount of value you can add to it.</li><li class="ql-align-justify">You’re free to take as much money as you want from this river; no limits. The only rule is that you have to put in value that is equal to or more than the money you take.</li><li class="ql-align-justify">Find your value. Communicate your value. Deliver your value</li></ul>

The Economy And You

<ul><li class="ql-align-justify">For a business to hire you, they have to be convinced that you are the perfect person for the job and hiring you will give them better results than hiring anyone else.</li><li class="ql-align-justify">So how do you win? The answer is plain and simple—communication.</li></ul>

Communicating Your Value

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Need Research Assistance?

Pyjama Profit: The Millennial's Guide to a Sustainable Freelance Career is a book by Varun Mayya and Abhinav Chhikara that offers actionable advice for building a freelance career, especially in fields like web development, design, and content creation. Drawing from their own experiences, the authors provide a roadmap for millennials to develop marketable skills and establish themselves as freelancers.

Pjama Profit

<ul><li class="ql-align-justify">The magic is in finding the balance— a sweet spot. That is the perfect intersection of the clients expectations and your skills.</li><li class="ql-align-justify">YOUR DAILY MANTRA: My value was what I chose to make as long as I could communicate and deliver, I could charge anything.</li></ul>

How Much Do I Charge? Value-based Pricing

"A $5 an hour from Google is better than a $100 project from unknown client. Why? Because simply having Google on your portfolio will help you land massive projects"

<ul><li class="ql-align-justify">The easier the skill; the greater than number of applicants.</li><li class="ql-align-justify">While writing proposals, think about whether you are talking about yourself or talking about the value, your skills can bring.</li><li class="ql-align-justify">Personalization and thoughtfulness will make you stand out in the crowd.</li><li class="ql-align-justify">You’ve taken the time to read the requirements of the job, you personalize your covert letter to highlight the skills needed, and why you are a perfect fit, and you’ve mentioned a timeline for successful completion of the project. That is the formula for making great proposal.</li></ul>

Bidding And Proposals

<ul><li class="ql-align-justify">It's about finding and working with people who enable you to produce your best work.</li><li class="ql-align-justify">Observe your working relationship, the way it makes you feel, the things that are important to you, and the things that irk you.</li><li class="ql-align-justify">Remember that your goal should be to one day stop using a freelancing platform and be able to land clients on your own.</li><li class="ql-align-justify">To do that, you need to create an awesome portfolio.</li></ul>

When Things Go Bad...

<ul><li class="ql-align-justify">if you play the game, honestly, delivering the maximum value to clients in patiently leveling up, you will be rewarded.</li><li class="ql-align-justify">REFERRALS: This is the number one source of new projects if you play your cards right and successfully deliver on your promise.</li><li class="ql-align-justify">But, as the demand for your skills caught up in your area and you grew your network, this allows you to increase until it made up more than 90% of your projects.</li><li class="ql-align-justify">Try to visualize what your ideal client looks like and think about where you can find them online.</li></ul>

Game Rewards

<ul><li class="ql-align-justify">Learning a skill increases your confidence and makes it easier to learn the next one.</li><li class="ql-align-justify">Creativity lies in being able to use those individual skills in a manner that results in something truly original that looks and functions well.</li><li class="ql-align-justify">Get rid of the misconception that you need to be passionate to learn a scale that makes you money—just go ahead and learn it, then see how that scale becomes your ability to earn your freedom to do the things that drive you.</li><li class="ql-align-justify">Nobody is born with a passion for something; it’s something that you have to constantly discovered in life.</li></ul>

How Do I Pick My Career?

<ul><li class="ql-align-justify">Don't take things personally</li><li class="ql-align-justify">Set Tangible and Achievable Goals</li><li class="ql-align-justify">Have Faith in Your Abilities</li></ul>

Managing Stress in the Freelancing World

<ul><li class="ql-align-justify">A positive attitude towards learning and picking up new skills goes along way—especially when our skills tend to become outdated every few years. Something we’ve learned the hard way.</li><li class="ql-align-justify">Let’s get one thing straight; when you start freelancing, you are automatically in sales.</li><li class="ql-align-justify">You are effectively selling your skills and services and you will be compared to people selling their skills and services in the same price range.</li><li class="ql-align-justify">Always invest in yourself by taking up free and paid courses. You must prioritize self learning in order for you to become updated.</li></ul>

The Life Cycle Of A Skill

How do you reach a level where you receive a couple of inquiries every week?Authority: Establish yourself as an expert and an authority in your chosen field. Write a free ebook to download.To make your brand valuable, you need to put out content. Share what you know. Engage with the community.

Your Personal Brand

<ul><li class="ql-align-justify">Work on enough projects and gain references to be notable in your field.</li><li class="ql-align-justify">Create a WordPress website.</li><li class="ql-align-justify">Post original contents and pick a regular schedule of posting.</li><li class="ql-align-justify">Build a recurring audience by sending out newsletters.</li></ul>

The Right Way to Build a Personal Brand

<ul><li class="ql-align-justify">The longer it takes for the call to happen from the client's first reply, the higher the chances you will lose your project.</li><li class="ql-align-justify">In the business world, the only thing that can lead to opportunity is conversation. </li><li class="ql-align-justify">You must make yourself out to be someone fun to be with.</li></ul>

Converting Replies to Calls

MONEY STASH<ul><li class="ql-align-justify">Savings and Health Insurance Fund: 35% of income</li><li class="ql-align-justify">Monthly Spend Fund: 25% of income</li><li class="ql-align-justify">House Rent and Subscriptions: 15% of income</li><li class="ql-align-justify">Learning Fund: 10% of income</li><li class="ql-align-justify">Splurge Fund: 15% of income</li></ul> BANK ACCOUNTS<ul><li class="ql-align-justify">Business account</li><li class="ql-align-justify">Savings account</li><li class="ql-align-justify">Splurge account</li></ul>

Managing Your Finances as a Freelancer

<ul><li class="ql-align-justify">Always remember that skills that are harder to learn will be scarcer in supply (Web development, <a href="https://writelerco.com">academic research writing</a>, <a href="https://writelerco.com">market research</a>, Game Development, 3D Modelling, Product Management, App and back-end development, etc.)</li><li class="ql-align-justify">If you are starting out you could take 3 to 6 months to get good at the skill, build up confidence, and then take up your first project OR learn the basics in a week and start bidding for a project after that.</li><li class="ql-align-justify">If you want to get paid while learning, do the latter.</li></ul>

Learning Your Core Skill: Finding Your Value

In today's gig economy, many millennials are looking to build sustainable freelance careers that allow them to work flexibly and pursue their passions. Pyjama Profit provides a practical guide for developing in-demand skills and launching a successful freelance business.

VARUN MAYA

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