📉 Scaling back on paid social

Happy Thursday! Only 2 more days at the slag heap before the weekend is here. Let’s get after it.

Mentioned in today’s issue: Apple, Amazon, MLS, MLB, NFL, Premier League, and Sugarwish. Plus a money-saving freelance tip, the fastest path to mastery, and how international freelancers can benefit from a strong U.S. dollar.

Read time: 3 minutes and 49 seconds

Making the Rounds

  • Big Tech is taking over live sports broadcasting. Apple’s signed major deals with the MLB and MLS, while Amazon bought the rights to broadcast Thursday Night Football as well as the Premier League. Now they’re duking it out over the NFL’s Sunday Ticket page, another deal sure to be worth billions of dollars to the NFL.
  • How to quit your job and get a better one. Here’s a shocking stat: 4.3 million Americans quit their jobs in August alone. If you were one of them or are thinking about joining them, check out this article from the WSJ for some quality tips on how find greener pastures.
  • Why some DTC brands are dialing back their ads on paid social. Sugarwish spent $1.4 million on Facebook and Instagram ads in 2021. But they’ve spent just $501k so far this year. Click here to find out why.

Together with Fast Foundations

Two 7-Figure Entrepreneurs Are Assembling a Circle of Influence That Will Force You to Level Up

Past experiences define your reality. And when it comes to reaching new income goals, seeing is believing. That’s why joining a community of like-minded entrepreneurs is the fastest way to 10k/m and beyond. So you can see exactly what strategies, tactics, beliefs, and mindset it takes to get there.

The Fast Foundations Mastermind is designed to help you grow your early-stage business fast. It’s led by Carter & Custer, two multi 7-figure entrepreneurs who will help you deploy proven step-by-step strategies to monetize your ideas, scale up your business, and increase your net income.

If you’re looking to make a breakthrough in your freelance business and finish 2022 on a high note, click here to learn more about Fast Foundations.

Working With Clients

Bringing Home the Bacon

One of the best parts about freelancing is the ability to renegotiate and raise your rates with every new client.

But there’s an unpleasant surprise waiting for you when you do…

Transaction fees.

The more you invoice for, the more Stripe or PayPal takes off the top.

That’s why it’s essential to minimize transaction fees wherever possible (along with conversion fees if you’re working internationally).

They’ll add up to many thousands of dollars over the course of your career.

Check out today’s Tools We Love section for our #1 recommendation.

Working For Yourself

The Sunglasses Are Optional

Daily habits are the fastest path to competency and eventually mastery in your freelancer business.

The more you practice, the better you get.

The better you get, the more results you can produce.

And the more results you can produce, the more you can earn.

We recommend breaking down your daily habit into two parts:

PART 1: Study

To map out the study portion of your daily habit, ask yourself this question:

Which do you have more of — time or money?

If you have more time than money, focus on free resources.

If you have more money than time, focus on paid resources.

Paid products and courses can shortcut your learning curve…

But there’s more than enough free information out there to teach you the basics of any one of the high-income skills we’ve listed in this guide.

In the end, what matters most is that you get started as soon as possible.

PART 2: Practice

Theory is nothing without application.

So the next step is to find ways to practice your high-income skill every day.

Whether that’s writing an ad, designing a logo, or putting together a campaign plan.

But remember this:

Anyone who is highly-skilled at something was once bad at it.

You don’t go from zero to A-List overnight.

Don’t overcomplicate it.

And try not to practice the same things everyday.

It’s good to shake up your routine and complete different tasks.

Aim to spend at least one hour a day on your daily habit.

If you’ve got more time to spare, then of course, you can do more.

But creating momentum is essential in the early stages of your freelance business.

And if you want to progress quickly, you need to be spending at least an hour a day on it.

Tools We Love

SPOTTED: International Freelancer Cackles as He Converts USD Into Local Currency

Inflation may be peaking.

But the U.S. dollar remains as strong as ever.

Which means international freelancers *should* be pocketing a little more than usual on every invoice…

Only problem is:

Most of them rely on PayPal (or god forbid, their local bank) to convert their currency.

Instead, they should be using Wise.

With Wise, you can:

  • Get better rates on currency conversions than PayPal or a local bank
  • Send money cheaper and easier than old-school banks
  • Get paid like a local in 10 different currencies
  • And convert & hold up to 53 different currencies.

In fact, Wise is 6X cheaper than other international accounts on average.

That’s why over 13 million people trust them to handle their international payment needs.

So if you’re an international freelancer…

Set up a free Wise account today to start saving big every time you get paid.

Gig Alerts

Looking for clients? These freelance jobs were posted on Upwork in the last 24 hours:

Quote of the Day

“I am not a product of my circumstances. I am a product of my decisions.”

— Stephen Covey