Are you sick of sitting at a desk all day being told what to do by other people, daydreaming about being your own boss? Freelancing is something many people wish they could get into, but feel intimidated by the idea of jumping into something so uncertain. Some people may even keep the job they hate just for stability. If you’re someone who’s ready to become your own boss, here are a few things to consider before jumping head first into the freelancing world.
1. Do not jump into freelancing without some savings
Freelancing can have a rocky start as you figure out how to run your own business, acquire clients, organize expenses, and manage time. You cannot expect to immediately start making buckets of money as you build your own business, so it’s crucial that you have enough savings to help you through the first few months. This will allow you to get into freelancing while not being overly concerned about paying your bills.
2. Know about your potential market and clients
Before you get into freelancing, do some research to know if there’s a potential market that you fit into. If you understand where your market lies and who potential customers will be, this will help you create a better, stronger business plan. You don’t want to go right into freelancing only to find out that you have no idea what market you should be in or where you should be getting clients. It will also help to establish clients beforehand so that you know there are people ready to pay you for your services!
3. Make sure you love what you’re doing
As stated above, the early stages of freelancing can be slow and challenging. You might get impatient or wonder if this struggle is even worth it. If you love what you are doing, however, it will help you push through the slow beginning, and eventually your work will pay off. You probably got into freelancing because you were bored with your old job — and you don’t want to end up in the same situation again! When you love what you do and you’re good at it, clients will notice and it will get you further in your industry!
4. Know how much your work is worth
Before you start selling your work to potential clients, you need to figure out how much you should be charging. If you always just take the first offer, you’re likely getting ripped off and probably not receiving the amount your work is actually worth in that field. For example, a freelance journalist might calculate how much each article is worth based on the time they’ve spent reporting, and then the word count for their articles. You have to be willing to ask for what you think your work is worth or else people will take advantage of you and ask for less.
5. Create a plan
It is vital that you don’t go into freelancing ready to just wing it. All of the steps above have to be a part of a long-term game plan you create in order to ensure success. This includes creating a business plan, organizing your finances, and having back up plans just in case you run into slow months. There are plenty of tech tools like mobile accounting apps, time trackers, and spreadsheets that can help you get the ball rolling. The more prepared and organized you are before entering the world of freelancing, the easier the transition will be. Without a plan, you will never know if freelancing could work for you.
There may be lots to consider before getting into freelancing, but don’t let all of this advice intimidate you. If you take the time to go through this process and follow these steps through, becoming a freelancer will not seem as risky because you will have such a clearer picture of what your business can look like. We hope this advice has been helpful, and good luck with the transition!