Are you wondering how to make 6 figures from home? Is that even possible?
You know you want to work from home. You want to work less hours. You want to have more time for your family. Buutttt….you still want your current salary.
Yes, it’s possible! I’m going to help you transition your current career into a freelance career!
In this post, I’m sharing the formula to determine how much you need to charge as a freelancer to match your six-figure salary. Plus, the freelance services you can offer to make 6 figures from home!
Now, when I got started the income I needed to replace was not a 6 figure salary. My salary before taxes and everything was about $34 a year. I had no idea how I was going to figure it out, but I did!
I remember in the beginning, it can seem so far-fetched no matter what that number is that you need to replace. So let’s get into it, because once you crunch the numbers it doesn’t seem quite as far-fetched.
Is it Possible to Replace a 6 Figure Salary from Home?
The quick answer is yes! It absolutely is, and you can probably do it by working fewer hours.
How to Make 6 Figures from Home as a Freelancer
The Formula for making 6 figures from home
This formula is something I share in my Live Workshops if you haven’t attended one yet, sign up for the next one here!
The formula I’m talking about is a mix of how many hours you want to work and what you would need to charge to make that happen.
Step 1: Determine how many hours you want to work each week.
In an ideal situation, if you fast-forwarded your freelance business 6 months from now, you’re freelance business is exactly where you want it to be.
How much money are you making a month, and how many hours you can work each week?
Step 2: Take the amount of hours you have to work each week.
Example 1: Availability to work 20 hours per week.
Take 20 hours x 4.5 weeks in a month = 90 hours per week to work each month.
Take the number you want to make each month 10,000 (for a 6-figure salary).
10,000 divided by 90 = 111
So, to make 6 figures a month you will need to charge $111 an hour.
Example 2: Availability to work 30 hours per week.
Take 30 x 4.5 = 135 hours per week to work each month.
Take the number you want to make each month 10,000.
10,000 divided by 135 = $74
So, you would need to charge $74 per hour to make $10,000 a month.
Learn how to earn $3K a month+ as a freelancer working less than 25 hours a week even if you think you have no experience.
This FREE crash course will teach you all about the freelance industry, so you can finally end the family vs. finances battle.
7 Freelance Services that Make a 6 Figure Salary
It’s important to know that if you want to make 6 figures from home, you need to offer more specialized services or skill sets to clients.
Those business services include:
- Technology support
- Podcast support
- Pinterest services
- Operational business management
Read this success story about how this virtual assistant began as a general virtual assistant, transitioned her business to technical VA tasks, and began charging $65 per hour. She now charges $120 per hour building funnels for clients!
Is it realistic to charge those rates as a beginner?
Yes, because you’re not a beginner. If you are in a 6 figure salary right now, you have probably honed in on a very valuable skill set for the company you currently work for.
So ask yourself, are there small businesses that need the support around your skill set that they don’t have the budget or capacity for a full-time employee?
Could they hire you as a freelancer instead of a full-time employee for $100k a year? Could they hire you for a $2500 per month retainer?
Hourly Rates for Freelance Services
Beginner freelance service rates
$20-35 per hour
Experienced freelance service rates
$40-70 per hour
Expert freelance service rates
$75+ an hour
The Freelance Workshop
Are you ready for more information about freelancing? My workshop is free and is an opportunity to dive into freelancing to learn more about what freelancing is, how to get started, and if it’s a formula you want to pursue. Sign up for the Workshop here
Remember, you don’t have to have all the pieces figured out to start a freelance business! I break down everything for you in my freelance training course The Live Free Academy.
We will work through services, packages, pricing, legalities, portfolios, landing clients, and more together. Start your freelance business making 6 figures from home and working fewer hours ASAP!