Why you will Fail in Freelancing!

Summary

This video discusses the challenges Indian freelancers face in earning substantial income, with only 1% making over 10 lakh Rupees per month. The speaker identifies three main obstacles: poor English communication skills, societal conditioning that instills a scarcity mindset, and the comfort of living with family. To overcome these, freelancers must improve their mindset, step out of their comfort zones, and focus on building scalable businesses rather than just fulfilling client work.

Takeaways

• 💼 The majority of freelancers in India, especially those in creative fields, struggle to earn a substantial income, with only 1% potentially making 10 lakh Rupees or more per month.
• 💻 Technical freelancers, such as coders, have a higher chance of earning well due to the demand and higher pay in the tech industry.
• 🗣️ A significant barrier to high earnings for Indian freelancers is the lack of proficiency in English, which limits their ability to communicate and secure deals with international clients.
• 💵 The inability to earn in foreign currencies, like dollars, due to language barriers, prevents freelancers from leveraging currency exchange rates to increase their income.
• 🏡 Societal conditioning and middle-class backgrounds often instill a scarcity mindset in freelancers, making it difficult for them to envision or pursue higher earnings.
• 🌐 The comfort of living with family in India can hinder personal growth and the motivation to push beyond one's limits, which is necessary for entrepreneurial success.
• 🚀 To break the earning barrier, freelancers must work on improving their mindset, breaking free from societal conditioning, and adopting an abundant mindset.
• 🛑 Getting out of the comfort zone is crucial for personal and professional growth, as it pushes freelancers to take risks and seek new opportunities.
• 📈 Freelancers should focus on building scalable businesses rather than just fulfilling client work, which allows for sustainable growth and higher income potential.
• 💡 Entrepreneurial freelancers should prioritize working on their business, such as sales, marketing, and culture building, over being caught up in the day-to-day operations.

Q & A

What percentage of freelancers in India does the speaker believe can make a significant income?

The speaker believes that only 1% of freelancers in India, specifically those in the creative industry, can make a significant income.

What is the speaker's definition of 'enough money' for a freelancer in India?

The speaker defines 'enough money' as making 10 lakh Rupees per month or more, as this amount can truly change one's lifestyle.

Why does the speaker think that most freelancers struggle to make money in dollars?

The speaker thinks most freelancers struggle to make money in dollars because a significant portion of them do not know how to speak English properly, which is crucial for international communication and business.

What is the role of societal conditioning in limiting the income potential of Indian freelancers according to the speaker?

Societal conditioning plays a significant role as it instills a scarcity mindset in freelancers, leading them to believe that making a certain amount of money is life-changing, when in reality it is not sufficient to achieve financial freedom.

How does living with parents affect the growth of a freelancer according to the speaker?

Living with parents can keep a freelancer in a comfort zone, which may hinder their growth and motivation to push boundaries and take risks necessary for financial success.

What is the speaker's advice for freelancers to break the cycle of limited income?

The speaker advises freelancers to improve their mindset, get out of their comfort zone, and focus on building their business rather than just running it.

Why is it challenging for Indian freelancers to make a substantial income from local clients according to the speaker?

It is challenging because the speaker believes that the rates offered by local Indian clients are not high enough to reach the life-changing income level of 10 lakh Rupees per month or more.

What is the importance of having a growth mindset for freelancers as per the speaker?

Having a growth mindset is crucial as it allows freelancers to break free from limiting beliefs and societal conditioning, enabling them to aim higher and achieve greater financial success.

What does the speaker suggest as a strategy to consistently earn a high income as a freelancer?

The speaker suggests that freelancers should always be on the offense, looking for new opportunities, and focusing on scalable business practices to ensure consistent high earnings.

How does the speaker define the difference between working to build a business and working to run a business?

Working to build a business involves making strategic decisions, improving offerings, and scaling operations, while working to run a business is more about fulfilling existing client needs and maintaining daily operations.