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How I Became A Millionaire As A Graphic Designer With No Degree
Almost anyone can earn money when they have a degree in hand, but it takes courage and determination to become a millionaire without a degree. Elizabeth was such a student at Blue Sky Graphics online course who earns a decent income with nothing but a few skills and a certificate in design. She has shared a few tips to help you get started as well!
Sell Digital files online
Selling multimedia files is one way to make a name for yourself. You can sell digital files if you can take pictures, textures, or fonts. There are some options for selling the prints. You can either enter a website where the corporation can advertise your files for you, or you can run your own platform, customise your files, and sell them for 100% of the proceeds. People and businesses will pay for the right to display the logo, and you will be able to earn a passive income for years after you have created it.
Take on projects as a freelancer
Seeking clients is one of the most daunting aspects of becoming a freelancer. There are many clients who need the services of a designer to produce a slogan, an advertisement, or art for their website. Signing up with a freelancing platform where you can showcase your skills and be paired with customers that are a good fit for you is one way to get consistent work by showcasing your design portfolio.
You can upload any of your previous projects, set your own prices, and submit ratings from previous clients on the best freelance websites. You can start with small projects, but with a large portfolio and favourable feedback, you can make a good living.
Increase the prices by the demand
If you want to make a decent living as a freelancer, you must charge a high fee. However, in order to charge premium prices, you must have consumers able to pay such high rates. This is where the supply and demand principle comes into play.
As a graphic artist, you should consider raising your rates
The worth of a good is proportional to its supply in comparison to how much customers want it. If a commodity has a lot of supply but little demand, it is not worth much. When there is a high demand and a small supply, it becomes very profitable.
Your time is the commodity you market as a freelancer. It is not a badge template or a zip archive containing a slew of files. When a customer hires me, they are buying blocks of my time. The logo is simply the product of purchasing it. So, in order to charge better prices, you must first make your time more efficient. And, since the time is still in short supply, what you have to do to make it more desirable is raise the demand.
Content marketing can be used to generate demand
Elizabeth generated demand for her graphic design services by producing a large amount of content that attracts the interest of thousands of people each day. As a result, she often finds herself with more inquiries than she can reasonably handle at one time, causing her to increase the prices much higher to fend off any of the unmanageable demand.
If you raise your market to the point that you have customers ready to pay you £1,000 a project daily, you only need to procure 9 of them a month (or 2.25 per week) to make six figures as a graphic designer.
Create Extra Income Streams
She does not focus entirely on freelance earnings. Freelancing is fantastic, but it is a lifestyle of ups and downs. Often you have more jobs than you can do, and the money flows like a river; other times, you are alone at your desk with little to do, twiddling your thumbs while your bank account dries up.
Having many income sources will help you get through the tough times while still leaving you with more money in the bank during the good times. This is why she advises using your programming expertise to build structures that generate income for you when you are busy making money. This is referred to as recurring wages.
Continual Earnings
When you work as a freelancer, you only have to do the work once, and you only have to pay once. However, when you create a digital product that creates ongoing revenue, you do the job once and get paid for it repeatedly. You could create a logo for a customer and earn a one-time £500 profit, or you could create a YouTube video explaining how to create a logo and earn £50 per month forever.
Income from Recurring Sources vs Income from Freelancing
Freelancing money does not pay in perpetuity, but it is easier to receive and makes higher upfront fees. When you first start, you can choose freelance income because it would be the most lucrative.
Recurring revenue is more difficult to acquire and pays out in short, slow drips, but if you get money, you are paying in perpetuity. Since recurring income sources take time to develop, she suggests making this a secondary priority. The more varied your wealth profile, the more stable your income would be. You will eventually hit a position where the salary is more stable than for a salaried career.
Blogging
In the long term, blogging as a graphic designer can be one of the smartest things you can do. Though it is something of a ‘delayed gratification strategy because it takes a long time to see results, it has many benefits that can make you a happier person and, as a result, can be turned into positive personal and financial profits.
The Advantages of Blogging
There are some benefits of using graphic designer websites. Here are a few more examples.
Personal Branding
Creating your design blog is one of the easiest ways to gain popularity and become more professional.
It enables you to share your work and knowledge with others, which will serve as a basis for developing your brand and reputation. As long as you build positive content and resist bad practices, you can get the interest of prospective customers and employees from design companies who want to partner with you sooner or later.
More successful Search Engine Optimisation (SEO)
Being a freelance graphic designer today does not necessitate a bachelor’s degree, but you would undoubtedly need a design portfolio if you want to advance. Having a blog with a sizable following will help increase your portfolio’s visibility in Google and other search engine pages.
The downside of blogging as a financial opportunity is that it would require a significant amount of your time and resources to establish your blog as an authority to attract as many visitors as possible. Remember that monetising your blog would only succeed if you have built and sustained strong credibility and a large number of followers along the way.
