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So, you’ve decided to offer a freelance service, chosen a business name and settled on a business structure. What next? When I decided to go freelance, I didn’t realise the sheer amount of time and effort that was required to make my business a success. Many may think that working on a freelance basis is simple and straightforward. I mean you can work whenever you want and you’re doing a job you love, right? Wrong! This is the type of mind frame many individuals fall into a trap with. Therefore, it’s essential to consider some points before embarking on a freelance position.
- Have a backup plan – This is something every freelancer needs to have in place if things don’t go as expected. If you fail to have a backup plan and you realise that your freelance business isn’t attracting as many customers, then you may be left out of pocket. I would recommend building up your freelancing services alongside a full-time job, and letting go of that once you have a large client base.
- Do the boring bits – Register as self-employed. Open a business bank account. Keep on top of your bookkeeping. Hire someone to sort out your taxes, NI and VAT. I know it’s all a bit tedious, but it needs to be legally done! Have you decided to work from home or a rental office space? For the latter, it may be worth taking out public liability insurance. Especially if customer injury is possible and you find yourself being prosecuted. Atleast you’ll have the services of a specialist tampa personal injury attorney!
- Network and connect – Freelancing requires you to do a lot of marketing and advertising on your own. Whether it’s through social media, paid ads or a business website, it’s essential to get the word out and show potential customers what you have to offer. There’s also a variety of freelance websites where you can offer your services. If you’ve already provided a service to any individuals, then try gaining their feedback. Listening to your clients can help you improve on your freelance business and show your customers that you’re interested in what they have to say.
- Be organised – If you’re working and starting up your freelancing career, it’s best to have a schedule and plan of what you’re hoping to get done for the day. This is important so that you are on top of your workload and don’t miss out on potential clients.
- Save and prepare – if you’ve decided to dive into the freelancing world already, then you should also be prepared for any sick days or any other unexpected events. Therefore, you should aim to set some cash aside for when you can’t work during your normal hours. This will help you stay on top of your finances and enable you to carry on with your commitments worry-free.
On a final note, never give up. Every freelance business once started out small. The more time and effort you put into it, the more it will pay off over time. It’s always worth working for yourself and doing something you enjoy for a living!
Until next time.