When is the perfect time to start a freelance business? The reality is, there is no perfect time. It's really dependent on you, you can start a freelance business, when you've got a lot of money in the bank and the economy is going really strong, that can be great. Or you could start your business when you have no money in the bank and it forces you to scramble, hustle, be creative, especially if it's during a recession. That's what happened to me way back in 2001. I'd had an internet business go Bottoms up.
I was down to about my last $400. And was job hunting was going through the 12th round of many companies each time then saying, well, TJ, we'd love to hire you. But not only we're not going to hire you. We're not going to hire anyone for this meeting trainer position. We're firing the ones we have. At that point I realized, wow, like ajavon for Next year, get to the final rounds and not have a job.
I've got to eat I had no safety cushion. At that point I said, let me plant a flag, become a really serious Freelancer and start my business and I gotta tell you, it was tough. The first year I worked like a dog sometimes 20 hours a day, and I made about $10,000 that year, but it forced me to develop a marketing mindset. It forced me to get out there and hustle it forced me to start newsletters and websites and cold call and do all sorts of things. Anything to scratch out a living. And I was just making a little progress all of a sudden 911 happened.
A couple of my best prospects about to hire me gone. So it was a yet another setback but you know what, by the time 2002 rolled around The economy was getting a little better. I was getting better at my marketing. And the effort started to pay off. So by 2002 my business was all of a sudden, successful, profitable, I was frankly making more money than I've ever made in my life. So, the best time to start a freelance business can frankly be when you're at rock bottom.
When you're at your lowest point, and when the economy's at the lowest point, but it doesn't have to be you could really start a freelance business anytime.