9 Things You Need to Know Before You Go Freelance
In recent years, freelancing is a rapidly growing industry in the world. In the years to come, the freelance economy could become a significant entity in the industries of our global society. Based on an analysis from TheMuse.com, there are 42 million freelancers in the United States, and 45% of them earn more money than traditional workers. Outside of the United States, there are even more freelancers from different continents, especially in Europe, South America, and Asia. So if you plan to start freelancing soon, you’re in for a fantastic career path. Before you go freelance, here are nine things you need to know.
9 Things You Need to Know Before You Go Freelance
You Become Self-Employed
When you leave your day job and transition to become a freelancer, you’re moving from employed to self-employed. In that case, you should know that you’ll be paying your taxes manually. You’re no longer covered by the Pay As You Earn (PAYE) system. In the United Kingdom (UK), employees who become self-employed inform the Her Majesty’s Revenue and Customs (HMRC), UK’s government department responsible for tax collection. You need to register yourself as a self-employed individual and inform your state’s tax-collecting government agency when you go freelance full time.
A Big Capital Isn’t Necessary
You don’t need an extravagant budget as a capital to start your freelance career. This is one of the common freelancer benefits that you’ll surely enjoy. Most freelancers, particularly freelance writers and graphic designers, only need a desktop computer, laptop, and internet connection. As a matter of fact, you might already have everything you need at home to go freelance. So, basically, there could be no need for you to prepare a capital. However, you might want to purchase a few office materials, just in case. But, office materials are inexpensive in general.
You Can Work Anywhere
When you become a full-time freelancer, you’re no longer part of a company or organization. You essentially become your own business. That being said, you no longer need to work in a company building’s office and sit on a desk surrounded by the four walls of a cubicle. With those in mind, you can work anywhere you want. You can freelance at home or whichever place you feel comfortable working. As long as there’s a strong online connection and you have a good computer, a particular place is conducive for performing freelance tasks efficiently.
You Can Set Your Own Schedule
The days wherein you need to comply with your current employer’s shift schedules will be behind you when you become a full-time member of the freelance community. In freelancing, you can work and finish projects at your own pace as long as you meet your clients’ strict deadlines. That said, you are free to make your own schedule; you can decide which hours you’ll take a break and which days you’ll be off. Other than creating a schedule, you can just simply make a to-do checklist to keep track of your freelance projects. Managing your time as a freelancer doesn’t have to be complicated.
You Have to Sell Yourself
There’s no marketing team that’ll help you earn clients in the freelance economy. Instead, you are your own marketing team. In other words, you have to sell your freelance services on your own. To do that, you need to submit/register your profile and portfolio into multiple sites for freelance job vacancies. Your portfolio should contain your best works showcasing the excellence of your skills and expertise. Other than going to a freelance website to obtain gigs, you can directly approach prospective clients, present them with a proposal, arrange a negotiation with them, and convince them into hiring you. You must take advantage of every opportunity you can get to increase your clientele.
You’ll Encounter Difficult Clients
Some clients have characteristics that are difficult to handle. Clients with unrealistic expectations, too demanding, want projects to be finished within the shortest period, etc., are prime examples. In that case, you just need to be professional in dealing with such clients. Just keep your composure and maintain your calm demeanor. Don’t let the possibility of encountering difficult clients discourage you from going freelance. After all, difficult clients are everywhere, even in your current day job.
Droughts Happen Sometimes
Fair warning, there are times in the freelance economy when there are lesser gigs than usual, or simply called as droughts. Droughts are caused by many particular circumstances. Other genres of freelance jobs are even seasonal. In times like this, obtaining clients and earning a steady regular income will be a big challenge. The best you can do is prepare yourself. You can exhaust your resources in finding freelance work or hone other skills you have to explore other types of freelance niche.
You Need to Handle Things on Your Own
Among the many attributes you must have as a freelancer is to be flexible. Why? Well, that’s because you’ll be handling things on your own. Along the way in your freelance career, you’ll face problems and dilemmas that no one else can fix except you. If you’re a freelancer, you don’t have workmates, supervisors, or managers who can assist you with your work-related challenges.
You’ll Be Your Own Boss
Being a freelancer requires you to have qualities of a leader. You might be thinking “Why? I won’t be leading a team.” Yes, you have a point, and you’re essentially right. But, when you become a full-fledged freelancer, you’ll become your own boss. You’ll be your own manager, supervisor, and CEO. You are the business owner, as well as the employee. Simply put, you have to be the leader of yourself to excel well in freelance. Freelancing is a one-person show basically.
As you may have noticed reading this blog, freelancing indeed has pros and cons. But hey, any job has its pros and cons. Certain risks are involved in leaving your day job to go freelance. And, taking risks is part of being an entrepreneur. With that in mind, what’s there to stop you pursue being a freelancer? Go for it! Just make smart and practical business decisions, and you’ll enjoy success in freelancing. And also, don’t forget the things you’ve learned about freelance here with us.
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