Freelancing while you’re studying or pursuing another career is quite common. But choosing to freelance as your career is a different ballgame. If you are first time freelancer and you want to take this up full time, there are some things you should be aware of.
If you have decided to freelance full time or you need reasons to do so, the following tips will ensure your decision:
1. Work will be inconsistent
You could know the best of freelance writing or designing, but that doesn’t mean all clients pay on time. Never count a payment till it reflects in your account. Don’t rely on clients who are prompt to pay as they too can misplace an invoice. Freelancer savings is your only hope for such situations.
2. Count your hours
Freelancing is all about charging according to projects or hours you work for. Make sure that you know how much of time you devote to a client, so that you get your deserved income. Not calculating your hours might have your spend more time and get less pay.
3. You are self-employed
When you are a first time freelancer, it could be queer to believe that you’re self-employed. With time, if you look at your profession as your own business, your perspective changes and you feel more professional. You get less casual about working from home and your attitude attracts more clients.
4. Know about your taxes
Making sure that you have your taxes in order is one of the most difficult and significant parts of freelancing. You have to keep away 20% of what you earn from every paycheck, so that there’s enough money when needed. Quarterly payments are the best way to pay up on time and reduce the pressure of having larger intervals.
5. Being your own boss is challenging
Of course, you have your clients and deadlines, but you still are your own boss. You choose your hours to work and prioritize personal and professional moments. Since you don’t have someone bossing over you, you need to boss over yourself to get your task done. There can be times you feel laid back and procrastinate, but that disrupts your entire schedule.
6. You have other chores
You might choose full time freelancing as you need to take care of your home, or you want to travel as you work, or you want to boss yourself. However, most freelancers have more things to attend to. It could be family or an alternative career option, and having more to manage is a big deal!
7. Super satisfying
Being a full time freelancer is one of the toughest careers you choose. It is challenging, risky, uncertain, but super satisfying at the same time. Being your own boss and having the ‘work at home’ flexibility is more of a blessing. You just need to utilize the good part to make the most of it.
8. Extra savings
The key to success is to have enough savings for coping up with risks and joblessness. There can be times when people con you online or you don’t have enough work to suffice. Your savings is the only way to fill up the bridge. Not having savings could make your quit freelancing!
Being a first time freelancer, these tips will help you develop with time. Remember, that dealing with clients is way better than having someone who orders all the time. Imagine traveling a new place all day, and working late night to finish up assignments. Isn’t it cooler than working 9 to 5?