7 Things You Can Do With Your First Investment As A Freelancer
/As a freelancer, you have finally made it! Your hard work and dedication have paid off. You have been working as a freelancer for some time now, and you are making enough money to live comfortably. So, now that you have reached this milestone, what do you want to do with your first investment?
Invest In A Business Course
One of the best things you can do with your first investment is to invest in a business course. This will help you learn more about running a successful freelancing business. You will learn from experts who have been in the industry for years and who can teach you what it takes to make money as a freelancer. This will also give you a headstart in accomplishing your future goals (like buying your dream car or finally signing the purchase documents on the hot piece of real estate you have your eye on) as it will teach you how to strategize and work smartly. If you’re looking to elevate your money mindset and remove money blocks, check out our Level Up Money Mindset 5-day program.
Start An Online Course
Another great way to use your first investment is to start an online course. This will allow you to share your knowledge with other freelancers and help them build their businesses. Plus, you will be able to make some extra money by charging for your courses.
Save It For A Sunny Day
Another option is to save the money for a sunny day. Some folks say a rainy day, but I like to think about the bright side. Sometimes you need your savings to explore a new opportunity. For example, when I interviewed for my first TV opportunity, I needed to pay for my travel to audition. This wasn’t a rainy day, but rather a sunny opportunity. And by the way, I did land the role.
Of course, there are also rainy days. This could be when business is slow, and you need some extra cash to help pay the bills, or it could be if you ever need an emergency fund. Whether you are saving for a specific purpose or just holding onto it in case of emergencies, this is always important when starting out as a freelancer.
Invest In Multiple Projects
Invest small amounts into multiple projects at once until they all become successful. Then use this capital to reinvest even more into one project with potential or interest if possible - it could pay off big! This strategy helps hedge against risk while increasing the chances of receiving a larger return over time compared to waiting around without doing anything else like saving up enough money for just one investment.
Invest In Your Passion
Put your money into a company or product that you're passionate about and believe in wholeheartedly. This is especially important if you don't have prior experience with investments, as it'll at least make the process more enjoyable while waiting for profits to come in. Not only that, but you may also become an unofficial ambassador of sorts for this venture - word-of-mouth marketing is incredibly valuable.
Peer-To-Peer Lending Or Crowdfunding
Consider other alternatives such as peer-to-peer lending or crowdfunding platforms, which offer lower barriers to entry and can be great options depending on what you're looking for. Always do your research before investing, however, so that you understand the risks and potential returns associated with each option available to you.
Buy New Equipment Software
Finally, another great way to use your first investment is to buy new equipment or software. This will help you improve the quality of your work and increase your productivity. Plus, it will make you look like a professional in the eyes of your clients.
Remember that there's no such thing as a perfect investment, whether you're investing in yourself or someone else. If one idea doesn't go well for whatever reason, then there's always another way to approach it with the valuable lessons learned from your previous experiences. No matter what you choose to do with it, make sure your first investment is something you're excited about and will help you grow as a freelancer. So, what are you waiting for? Invest in one of these things today and see how they can help you level up your business.
