Everything You Need to Become a Freelancer
Posted: Aug 13, 2018
Contrary to popular belief, freelancing isn’t just about sitting around eating all day and making money doing nothing. It is something that takes hard work if you want to succeed, and it is not always an easy road. So, if you are looking to escape the mundanity of a 9-5 office job, you need to ensure that you are prepared to face good times as well as really bad ones. After all, the sky may be the limit for all freelancers, but all of us are going to have periods where we wonder how we will make it through. Here is everything you need in order to become a freelancer, so make sure you take a look to see if you are prepared to take the leap.
A Business Idea
The first thing you need to ask yourself is what do you have that others are going to want to buy? What makes you different from others like you? How will you best your competition? There are a lot of freelancers out there, and you need to think about why your business is better than the rest. Of course, over time you will make a bigger mark, and the answer may become more apparent. However, you do need to have some kind of answer to these questions before you can start.
A Business Plan
Writing a business plan allows you to be more prepared for your new endeavour. It allows you to tell yourself what your goals and ideas are before you launch your career as a freelancer says Maciej Tomiczek from mtstudio photography. Business plans that are written in advance can also be modified over time, as well as shown to potential investors in the future. Business plans are always beneficial.
A Clear Goal and the Will to Reassess Yourself
On the subject of goals, being able to set yourself a number of goals as you progress is also important. These are also known as goalposts, and they symbolise smaller (yet still important) goals that you need to achieve. Decide what you want to achieve, and the time you want to have it done by. Once you reach the deadline, ask yourself if you were able to achieve your goals. If the answer is yes, excellent, if the answer is no, you need to be willing to reassess yourself and where you currently are. Set yourself some new goals that are more obtainable, and you will be well on your way.
A Good Pricing System
Pricing for freelancers can vary based on a number of factors, including their industry, skill set, experience, and geographic area. As a result, there is no set formula for determining how much you should charge your clients, but we do have a few tips for starting out and figuring out how much clients should pay.
When you first start out, keep your prices a little lower than your competition’s. This makes you more appealing and can help you to build up a feedback rating as well as spread the word about your company. After a little time, you can raise your prices so that you are making a fairer amount. However, do remember that you need to eat, so don’t sell yourself too short when you are starting out.
Think also about whether or not you will be billing at an hourly rate or for the whole project. Hourly rates tend to mean that prices will vary from project to project, and each form of billing can have its pros and cons.
A Reliable Client Base
The best piece of advice you can be given about freelancing is to have a client base before you quit your day job. Gain two or three solid clients, and work with them to build a good relationship before you fully immerse yourself in freelance life says Paul Director a PDW firm based Oxfordshire. This gives you some security and also helps you to understand how client relationships work. Plus, if everything goes wrong, you have your current job to fall back on.
A Savings Account
The more money you can save before freelancing the better. They say it is best to have a minimum of three months’ worth of expenses saved before you take the leap and quit your job to start freelancing. This is very wise advice, and it is important to have money saved so that you can live if you have a bad month or a slow start.
An Accountant or a Way to Track Your Cash
When you start working for yourself, the realisation that you have to file your own taxes can be pretty daunting – especially when you understand how much work that can take. Some freelancers opt to hire contractor accountant to sort through the paperwork for them. This can be expensive, but it also frees up a lot of your time.
Other freelancers choose to do it themselves. If you choose this route, it is important to visit the government website and call HMRC so that you understand how to file your taxes correctly.
Persistence and Determination
The beginning of your freelance career will be slow to start with, and that is something you need to accept. Similarly, you will have good days and bad ones ahead of you, and you need to be prepared to deal with them. Persistence and determination will be your greatest allies when you start your freelance career.
Many people view freelance life as something that leaves you with a lot of free time. While flexibility is a benefit, you also need to be readily available to your clients unless you have booked some holiday off with yourself and let them know. Clients need access to you, and you need to ensure that you are disciplined enough to work the hours needed for you to get the job done. Discipline is key to success.
Hopefully, this has helped you to understand what you need to do in order to become a freelancer. Read this guide, and follow each point closely in order to get the most out of your freelance career. With persistence and determination, there is no doubt that you can succeed.
Growth marketer. Digital strategy consultant. Consulting Audio engineer by background. Digital marketer by choice. Helping freelancers and smart companies being fully digital.