So you want to start freelancing? For many, being your own boss is a fantastic idea. It allows you to pick and choose your assignments, set up a schedule that suits your lifestyle and determine your own personal preferred productivity location.
Now that you've completed your Diploma of Website Development, Diploma of Digital Media Technologies or otherwise finished your learning (for now, at least), it's time to set off on your own. Here are three of the best tips for freelancers to take with you as you journey into the world of the sole trader.
Go in with your eyes open
Perhaps the most important thing to remember is that freelance success isn't something that happens overnight. It can take months, or even years, for you to establish enough contacts and projects to make freelancing your sole source of income. If possible, don't bail on your full-time gig until you either have a big enough cushion to keep paying the rent and buying groceries or have generated enough consistent work that you'll be OK if nothing else comes in for the next few months. This might lead to the short-term pain of logging a few dozen extra work hours a week, but it's better for you in the long run.
Set up your space
Having a place you can go to take care of business is key if you want to study online but it is also vital for freelancers. A great work space where you can focus in a comfortable environment is crucial to getting client work done. Alternatively, finding a co-working space with low rental rates or a spot in your favourite nearby coffee shop can help get you into work mode, too.
Don't ignore the admin
As your own boss, you'll have to do more than decide which assignments to take. You'll also be in charge of keeping track of deadlines and other scheduling, invoicing and accounting. Get in the habit of using your diary or the calendar on your phone, and seek out job tracking programs or spreadsheet formatting that can help you stay on top of everything. Last, but certainly not least, make sure to read up on how taxes will affect your bottom line, and the best way to make sure you keep contributing to your super fund.
Being able to call the shots and earn a living on your own terms is one of the most liberating, gratifying undertakings you can experience in your professional life. Make sure to keep these three freelancing tips in mind as you get started and you'll start out on the road to success on the right foot.