29M , 7 yoe. Have a full time job plus running my own freelancing gig servicing multiple clients across the world
How can one start gig work? Which are the best domains to enter? How can a non tech person learn to become successful? I feel it is tough to find customers, how do you do that?
The only domain to enter for gig economy is where you are an expert. Trust me clients will only pay you if you can truly deliver value to them.
You can find customers on upwork, LinkedIn etc
How does upwork get you clients? Do you pitch or cold mail? If you can share your process here
Curious about how freelance and full time job taxation works. Can you shed some light? Also how many hours do you spend working a week?
Full time job taxation works as your income tax slab. I did my declarations and they transfer the money after deducting the taxes. It’s simple
For the gig, since I crossed the gst limit I had to create a proprietorship firm and get my own GST number. Now in business only your profits get taxed (Revenue - expense)
I have a CA and accountant who does this and usually I show upto 50% of my revenue as profit.
Once this is done your total income for the year becomes your salary + profits and you pay tax based on the slab you are in.
Thanks, this is clear
What sort of services are you offering in freelance? and how do you find your clients?
Found clients via Upwork. I don’t do short term gigs so basically locked all my clients into a monthly retainer.
Service: Digital advertising
Digital advertising is too broad. Can you be more specific please? Like FB ads? TikTok ads? Google ads?
Three questions:
Really good questions
Biggest con here is the mindset. You judge all work by money. If you want to take a big initiative in your ftj you would think twice knowing that it wouldn’t give you any additional pay while doing the same work can make you lakhs more in a month with freelancing. Trying to manage all that is a challenge.
Great insights this! Keep inspiring. đź‘Ź
Why keep full time job when you are making more from freelancing? I do you sublet work or hire juniors to help?
Freelancing is lonely man. Sometimes it gets repetitive, you feel like you aren’t learning anything. Ftj is just for keeping me company and get to learn something new and work with friends. This is my last corporate gig and once I leave this company I would pivot completely to freelancing. The money difference is stark, what I am making in a whole year with ftj I make in 3 months with freelancing.
No haven’t hired anybody nor do I want to. As I said, client wants someone really skilled and I don’t have time to train anybody. Also don’t want the overhead.
Do you think the new AI tools put your roles at risk?
So many folks are speaking out (or bragging who knows🤷) about their monthly/yearly paychecks. Just curious, for all single folks who are receiving a hefty wad of cash every month:
Earning ~1.2lpm post taxes It's fully remote work so 0 expense on rent/food. cafes/restaurants during weekends whic...
I want to understand if you are also satisfied with your compensation?
2.4 lakhs/month. Not a developer. Not in Tier 1 city. Not in FAANG or whatever it’s called now. No lo...
Basically want to know how you guys strategise and manage spending. Few questions to make this easier
