Tip: Supporting your project with freelance work? Become an agency to increase revenue.
Freelancing can be a great way to keep the lights on while you build your company, but you may be leaving money on the table. Create an agency to increase revenue.
If there's a good amount of demand for your freelancing work, it might be time to set up a separate entity. Yes, it's a hassle to register a company, get a bank account, create a website, and so on. But it's worth it because it increases your credibility, allowing you to bring in new business and charge more for your services. It also opens up a whole new market of companies that only work with agencies. @andrewjdavison of Luhhu was able to win bigger clients and increase his hourly rate from $100/hr to $175/hr with this small adjustment alone.
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Thanks for the mention! If anyone has any questions, I'm happy to do an AMA here :)
Great tip! I think its also useful as you transition to an agency to consider bundling your services into Productized Services.
If anyone ever needs help setting up a U.S. company, along with a U.S. bank account check out Blook! https://blook.io
We make it easy to get started so you can focus on building your business :)