How to Build a Financial Safety Net with Your Own Web Design Business
September 17, 2020
With everything going on in the world from the global coronavirus pandemic to wildfires to economic uncertainty, it’s never been more important to have a financial safety net that you can rely on. A financial safety net is meant to protect you and your family, at least in part, if something unexpected happens - such as losing a job or falling ill. Whether it's full-time or part-time, building and selling websites can provide a reliable and steady source of income to keep you financially stable in any economic climate.
Here are some tips to help you build a financial safety net by starting your own web design business.
1. Set a goal
With everything going on in the world from the global coronavirus pandemic to wildfires to economic uncertainty, it’s never been more important to have a financial safety net that you can rely on. A financial safety net is meant to protect you and your family, at least in part, if something unexpected happens - such as losing a job or falling ill. Whether it's full-time or part-time, building and selling websites can provide a reliable and steady source of income to keep you financially stable in any economic climate.
Here are some tips to help you build a financial safety net by starting your own web design business.
1. Set a goal
Start by setting a goal for how much money you want to have in your financial safety net. For many people, an extra $500 - $1,000 per month in extra income can go a long way and help prevent them from losing their financial security during tough times. Other people may require $3,000 - $5,000 in monthly income just to cover their mortgage and expenses. Figure out how much you need based on your current income and expenses and set a realistic goal.
2. Get started right away
You will never achieve your financial goals if you never get started. Stop putting it off and start your own web design business today with SiteSwan. Don’t let the fear of uncertainty stop you and don’t worry about problems that don’t exist yet. You don’t need to have everything figured out today – you’ll figure it out when they come up. If you get caught up thinking about every possible scenario, struggle, or outcome, you’ll freeze up and get nowhere. Getting started is the first step that puts you on the path towards success.
3. Think big, but start small
No matter what long term goals you set, it’s important to remember that success doesn’t come overnight. Whether you plan on selling 10 sites or 1,000 sites, both goals start with just 1 sale. It’s OK to have ambitious goals but don’t let that overwhelm you or discourage you from being successful. Set smaller, achievable and realistic milestones for yourself so you can continue to grow your businesses one step at a time. You can’t build a financial safety net overnight. Don’t worry about getting 10 clients your first month. Focus on getting your first web design client before you move on to the next.
Worried about finding clients? Check out SiteSwan's Local Prospecting Tool.
Worried about finding clients? Check out SiteSwan's Local Prospecting Tool.
4. Be smart about pricing
Overcharging or undercharging clients will only delay you from reaching your financial goals. Charge too much and you’ll never land a client. Charge too little and it will take forever to hit your goals. Rather than trying to be the most expensive or cheapest web designer in your area, sell websites at an honest price point that most small businesses can afford in any market. Focus on building recurring revenue by charging a setup fee and a monthly service fee. At SiteSwan, our suggested price is $499 setup fee + $50/month for a 5-page website. Of course you have complete control over how much or how little you charge your clients and you keep 100% of the sale.
5. Expand your services
A great way to increase your monthly income and achieve your financial goals faster is to expand your services. Imagine if you can generate an additional $50, $100 or even $500 per month from each of your clients. Web design is the perfect gateway to selling other marketing services like reputation management, social media marketing, business consulting, PPC management and SEO. Once you sell a client a website, it’s much easier to pitch these other services. For example, with SiteSwan, you can sell Reputation Management to your clients directly from your SiteSwan dashboard. The suggested retail price for Reputation Management alone is $99 - $199/month PER CLIENT.
There are all different types of motivating factors that make people want to start their own business. This year's events, along with a soaring unemployment rate, make a really good case for being self-employed or having an addition stream of income to depend on. Having a financial safety net – one with ongoing, recurring income that's diversified over many industries – is critical to feeling more comfortable in times of financial uncertainty. And we here at SiteSwan are happy to be playing a role in that for many Americans.
There are all different types of motivating factors that make people want to start their own business. This year's events, along with a soaring unemployment rate, make a really good case for being self-employed or having an addition stream of income to depend on. Having a financial safety net – one with ongoing, recurring income that's diversified over many industries – is critical to feeling more comfortable in times of financial uncertainty. And we here at SiteSwan are happy to be playing a role in that for many Americans.
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