5 Things You Need to Know Before Starting a Freelance Business

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Freelance Business

Freelancing is a fantastic way to make money – you can work your own hours, work from home and pick and choose what type of work you do. Many professionals now choose to freelance because of the flexibility it offers.

If you are interested in creating your own freelance business but aren’t sure if it’s right for you, here are some things you need to know about becoming a freelancer before deciding if it’s right for your career.

Create Your Own Online Portfolio

Think of your portfolio as a portfolio for your audience. Your resume is for employers; your online work portfolio is for potential clients, but both should showcase your best work. Your online portfolio should be professional and easy to navigate, no matter how many projects you’ve worked on.

Do Not Quit Your Day Job

Freelancing is going to pay a lot more than £10.50 an hour, and you get the flexibility in setting your own pace, but it won’t pay all your bills on day one. It takes time to build up a client base and negotiate better hourly rates.

If you quit your job thinking you can replace your income right away through freelancing, you might find yourself having to moonlight (try to work two jobs at once) or file for unemployment once everything runs out.

Keep Your Skills Updated to Remain Competitive

Freelancers must always remain on top of their game if they want to be successful. To do that, it’s essential to stay informed about the latest trends and developments in your field and market. It’s also important to step outside of your comfort zone every once in a while by devoting time to learn new skills. When you do this, you’re ensuring that you don’t fall too far behind.

Freelancing Can Get a Bit Lonely

Freelancing is a bit of a challenge in the beginning, but once you have around 25-30 clients, then it becomes very manageable. Freelancing can get lonely as well, and it is quite different from working with others surrounding you. It may take some getting used to this.
However, once you’ve built up a bit of a following and some regulars, it becomes very easy to manage. Also, remember that there are lots of freelancers out there who are sure to be dealing with the same things as you are.

Protect Yourself

Also, freelancing as a career can have its risks, too – especially if you offer services that can cause your clients any financial loss. So, it is important you look for ways to protect your business. If you have the proper protections and protocols in place, then even if something does go wrong, a proper safety net will keep you and your business safe against claims.

Success doesn’t happen overnight. It takes time for your personal brand to develop, just like it does at the office. Start gradually and promote as much as possible – you may not have a full-time marketing department behind you, but you’ve got brands like LinkedIn, Facebook, Twitter and Google all looking out for you. Go ahead, get started and change the world!

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