If there’s one thing I wish I knew earlier in life, it’s dividends.
Dividends are like Christmas presents but better, because you do one thing and then you just keep receiving money.
Usually, you can get dividends when buying blue-chip stocks or by working them into a business arrangement.
The crappy thing about both of those options is that both are risky.
If it all works out as planned, you get the dividends, but stocks can go down, and dividends can get canceled. Businesses are also risky as hell because there’s no guarantee that the company will make money and stay open. If the business shuts down, you’re out of all of your cash.
But when I’m talking dividends as a freelancer on Upwork, I’m thinking on an entirely different plane.
For my business, the “Dividends” are the affiliate commissions I make while in contract with someone.
This is the icing on the cake in any contract.
Most of the software platforms I work with have generous affiliate commissions ranging from 30-50% of the money that your client pays.
When you’re talking about monthly costs at $100-$300 / month for some of these software as a service platforms, it’s not chump change.
And each client could be using 3-7 different platforms for a fully built funnel.
That means, every month you get free money sent to you regardless of whether you’re continuing work with the client!
Now, this isn’t always an easy thing to do because a lot of companies already have their established stack of software platforms, but as you grow your consulting expertise on Upwork, you’ll find more companies coming to you for guidance. When they do, you can offer them one of the platforms you love that you just so happen to be an affiliate for.
Be careful not to be a shill.
There are different platforms that work better for different situations. If you’re going to force a client into a particular platform only because that’s the one you have an affiliate relationship with, you’re being biased and not an honest broker.
This is why I’m an affiliate for competitor products like Active Campaign & Infusionsoft. I think there are different times where either one will shine, and I will push the client towards the one that will work best for them.
When we determine the right platform, I ask them if they’d mind clicking my affiliate link. Most people will gladly do this because they trust you and want to see you succeed in life. Just like you want your client to succeed with their business. This is the backbone of having an abundant way of looking at things. The rising tide should lift all ships.
My goal is to make enough off these commissions to pay for all of my monthly expenses. I’m still a long way away from this, but if I can continue on my trajectory, I should be reaching this in a few years. Then my consulting will just be icing on the cake!