9 Things You Should Know Before Freelancing
Okay yeah, we get it. Working for “the man” is a drag and stifles your rebellious spirit. During the course of the quarantine you may find that you are beginning to work on things that make you happier. Maybe you are working on social media, crafting, or thinking differently. In the last 10 years, there has been a major shift in our culture surrounding work. Before people spent 40 years at the same job working their way up the proverbial corporate ladder.
Now, millennials are hopping jobs every two to five years, starting their own businesses, and generally forging their own paths. It’s truly a blessing to make your own schedule, work only with clients that fit your brand, and manage a company from wherever you choose. That said, we know that freelancing can seem daunting or impossible. It’s not, but we wouldn't be us if we didn't try to offer you nine things you should know before taking the plunge into the world of freelancing.
Organize, Organize, Organize (Yourself & Your Team)
Being organized means that there is less room for mistakes. Spend time making schedules and deadlines for yourself and/or your team. When everyone is on the same page, the need for constant communication with your team is negated. The time saved from sending non-stop communication to relay tasks can be used instead to plan new content, new goals, or network. Freelancing is all about enjoying the work you do while staying focused on achieving the goals and objectives you set for your business. Your workspace also matters -- so organize it. Having one set place whether it's in your home or a (covid-friendly) location is important to your productivity.
Protect Yourself
Contracts are your best friend while freelancing. In general, we believe that people are good. We believe that when we willingly share our areas of expertise people will respect it as ours. We know that you want to help that friend by giving her social media tips, or gift that bracelet to an influencer because she said she would post it in exchange for it being free. Unfortunately, the number one person you have to protect is yourself. If you’re just getting started, Law Depot is a collection of legal document templates. Anything from an NDA to an influencer agreement can be started there. Remember: your intellectual property is just as important as any tangible services you may offer.
Stop Procrastinating and Learn to Self Motivate
If you need a sign to tell you to finally do it, here it is. DO IT. What is waiting to get you? We know that you may feel as though you can't release your products/services until it is absolutely perfect but in reality people probably won’t even notice. You are as ready as you believe you are. Imposter syndrome, the belief that regardless of your accomplishments you will be exposed as a fraud, is real. Accept that someone will always know more, but that doesn’t mean that they are the person people want to work with. Find your “Why?” and keep going forward.
Get a Portfolio Together
Your portfolio is a credibility check for your clients. They want to see that you can do the work that you say you can do. A shareable folder with your work, a website with testimonials, or even a dedicated instagram page of your creations can all act as your portfolio. Ensure your clients know that you’re the real deal.
TAXES TAXES TAXES
The allure of write-offs may have you donning the freelancer cap sooner than you think. There’s nothing the IRS loves more than throwing people for a loop at the last minute. Freelancing is viewed as self-employment by the IRS meaning you have to pay taxes. Ensure that you know your tax rate, deductions, and if you have any additional self-employed taxes owed as well. Managing your money well from the beginning is crucial to building a better business.
Focus on Email Marketing & Customer Relationship Management (CRM)
Your friend here will always be a call-to-action and high engagement. You want people craving your content so much that they want to stay updated in whatever you are producing. Managing your relationship with your clients starts with an email list. Mailchimp is a free service (up to a certain number of contacts) that allows you to create, manage, and track your email newsletters.
Learn how to research
Can we start with the most basic tip? Get off the first page of Google. You would be surprised how superficial some of the research that businesses build their entire strategy on can be. Thorough research can lead to a key insight about your target or industry that may be just the piece that sets you apart from the competition. If you are a student, most universities offer access to their databases filled with research. If you’re not a student, no worries there are still databases available to you -- just go to your local city library’ website or visit Google Scholar.
You are the Average of the Company You Keep
Surround yourself with people who share the same goals as you. There are plenty of people who think that freelancing is too risky or not worth the extra effort. If it is worth it to you, then it is worth it. Period. One person’s negativity has the ability to shape everyone's moods and opinions, so instead remember to surround yourself around genuine people who share your vision. Don’t get us wrong, you need people who are going to give you constructive criticism, bring your loftier goals into specific achievable goals, and tell you when you're dead wrong. Keep those people. They want to see you grow.
Don't quit your day job... just yet
Lastly, if you aren’t already a full entrepreneur think about taking time to slowly shift your focus towards your freelancing business. The financial burden of managing your own company can seem staggering and unmotivating . Give yourself the best chance of not burning out too soon by transitioning smoothly into being the solo boss babe you were meant to be.