Male freelancer works on laptop and considers his work.
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Freelancing is growing in popularity. Research from Upwork found that 28% of skilled knowledge workers currently operate as freelancers, and that 36% of knowledge workers who have full-time jobs are considering freelancing.
It’s clear why people are drawn to freelancing. You can choose who you work with, when you work, and you can enjoy the flexibility that comes with working from home. You become a small business owner, and that type of independence is desirable for many people.
However, there are a few things to consider before you make the leap into the world of freelancing.
1. Get Clear On Your Goals and Vision
The first aspect to consider is your goals and aspirations. Are you looking to leave your current job entirely and go full-time freelance, or just bring in some extra income as a side hustle?
These goals will shape how you run your business, from the type of clients you target to how much you charge for your services and your revenue goals. Being clear on your goals can help you build the type of business and lifestyle you want, and not feel like you’re still on a corporate hamster wheel.
2. Evaluate Demand For Your Services
It’s critical to research whether the skills or services you want to offer are in demand right now. You could take a look at job boards, freelance directories like Upwork, or LinkedIn to see if clients are looking for what you offer. Remember to offer a service that helps solve a client’s problem.
3. Choose A Freelance Service You’re Passionate About
While you need to assess demand for your services, it’s just as important to be passionate about what you do. This is especially true if you’re still working a job that isn’t making you happy – why not make your freelance work something that lights you up, rather than just another mundane way to pay the bills? That passion will translate across into the work you do for your clients.
4. Are You Ready To Go Full-Time Or Take It Slow
It can be tempting to throw in the towel at work and make the leap into full-time freelancing right away. But seriously evaluate if you can afford to jump in right now, or whether you need to have a job alongside it while you build. It’s okay to operate your freelancing business part-time and grow it sustainably.
If you make the full-time leap, have a safety net to bounce back on if things are slow to start, such as 3- 6 months’ worth of living expenses saved up.
5. Understand The Basics Of Business
Finally, when you go out on your own as a freelancer, you also become a business owner. There are several nuances and differences in running a business versus being employed in a job. You’ll need to understand pricing, contracts, taxes, and navigate client relationships. It could be worth talking to an accountant for advice when you first start out.
It’s an exciting time when you decide to start freelancing. Keep these points in mind and get strategic about how and why you’re starting to ensure you’re set up for success from day one.
Source: 5 Things To Consider Before You Start Freelancing
