The limitation with freelancing or consulting of course is that you only have so many hours in the day — which puts a natural cap on your earning potential.
You may also face the challenge of clients hiring YOU (your knowledge/expertise) instead of the result you deliver for them. That’s definitely a good selling point, but can tough to grow out of if you want to expand.
What to Do Instead
If your goal is to build something that grows beyond yourself, consider an agency or matchmaker model from the beginning.
What do you mean by that?
Instead of freelance writing, consider starting a content writing agency. Bring on other people to write the content and focus on getting clients.
This is what my friend Gabe Arnold did in starting Copywriter Today and growing it $20,000 a month.
Instead of starting a doing freelance graphic design, consider starting a design agency. Russ Perry, the founder of the mega popular service Design Pickle admitted to me, “I sucked at design.”
This works even in offline businesses. Chris Schwab built a residential house cleaning business to $60k a month in 2 years–while never doing any cleaning himself.