Tips For Successful Freelancing Part 1

Nearly every single week, I receive a couple of emails from readers asking for any tips that I have so that they can get started with freelancing as well.

Today’s post will be all about freelancing successfully, enjoy!

When I tell people that I am switching to 100% freelancing, they tend to think that my life will be easy as cake and that I will basically be prancing around in my pajamas 24 hours a day.

They also think that I will be sleeping for around 15 hours each day.

I’m not sure why people think this. Freelancing is still working and everyone still needs to plan in order to be successful.

Below are my tips in order to freelance successfully:

Be realistic.

One thing that I always tell everyone is that you need to be realistic with your freelancing plans. Not everyone makes 6 figures, and not everyone is successful.

What works for one person may not work for you. Not everyone has the same skills, and not everyone enjoys doing the same thing. I think that if you want to work for yourself, then having some sort of passion is a good idea. Enjoy what you are doing!

Have a plan.

If you are going to switch to freelancing, make a plan for what you want to do. Can you afford it? How many projects can you realistically take on? Will you hire employees? What kind of business budget will you have? What will you do as a freelancer? What will your pricing be?

There are many questions to ask yourself. Not everyone has everything answered, but it is wise to have some sort of plan so that you are prepared for things that may happen.

Market yourself.

If you just started freelancing, then it would be very hard for anyone to know about your services unless you market yourself. How is anyone supposed to know what you do, if they don’t even know that you exist?

There are many ways to market yourself. You can start a website (as discussed below), ask for others to recommend you, be active on social media, advertise online or in the paper, and so on.

Create a website detailing your services.

This goes hand in hand with marketing yourself. When most people are researching what company they want to use for a project that they need done, then the first thing that they do most likely will be searching online for the company’s website.

If you don’t have a website, then this might hinder your growth. Just start one! It can be simple, depending on what type of service that you offer. Of course, if you have some sort of design business, then having a nice website will be key.

Ask for a review or a testimonial.

If you already have some projects completed for your clients, trying asking them if they will leave a review about how you did. If you have REAL reviews from REAL customers/clients, this will help potential future customers choose your services.

Have a schedule and stick to it.

When I make the freelancing switch, it does not mean that I will be sleeping in until 1 p.m. every single day. I will still attempt to stick to a similar schedule as to what I have now.

In some industries, your clients may only need you after 5 p.m., maybe only before 7 a.m. If you plan on entering these industries, then you will have to adjust your schedule and work when they need you.

What other tips do you have for successful freelancing?

 

This post was mentioned on Money Bulldog.

 

What I’m Doing to Prepare for Self-Employment

What I'm Doing to Prepare for Self-EmploymentA couple of months ago, I published a post on Making Sense of Cents about How To Prepare for Self-Employment. I am planning on making the switch relatively soon, and I wanted to publish an update to that post.

There are many things that I have done and that I need to do in order to make the switch to self-employment as smooth as possible:

Increase our savings

We are really working on increasing our emergency fund. We depleted a lot of it in order to pay off my student loans. We want to have around one full year of expenses before I make the freelancing switch.

Luckily our budget is kind of low. Everything altogether (but before saving for retirement) is around $3,000 each month.

Think of a backup plan

Self-employment and freelancing is a dream of mine, and I would really prefer it to never end. However, we have to be realistic. What if something medical came up? What if freelancing really went down hill and we use up all of our emergency fund?

I really want to keep my resume up-to-date as much as I can. I want to keep my skills up-to-date as well. I really do have high hopes for my freelancing, and I am hoping that I will be successful with it for years to come.

Build my freelance services

Yes, I said empire, mainly just to be funny!  I am working on increasing the number of services that I offer, and I am also working on increasing the amount of clients that I have. Yes, I will be tired up until the day that I make the switch, but it will all be worth it.

I have been much better with streamlining my tasks and making everything work. Working my day job and freelancing have been much better lately.

Health insurance

Health insurance is tricky. Until W and I get married, I’m just going to have to suck it up and pay the high cost for health insurance. I am still undecided if I should pay for a cheaper plan that is mainly for “catastrophic” medical cases, or if I should get a more expensive plan.

I am healthy and hardly ever go to the doctor, but you never know what may happen.

Various expenses

There are a lot of relatively little things that I need to plan as well. I would like to set up a home office so that I am not just working anywhere and everywhere in the house. I would like to be more organized and have a place that I can really concentrate.

Right now, my various offices are on the couch in front of a TV…

Taxes

Taxes have of course been thought about and have been paid so far. I’m still looking into various ways to be smart with taxes and I will be consulting with more accountants soon. Paying 30% to 40% in taxes makes me cringe, but it has to be done.

It will be harder to get approved for financing

This is something that everyone keeps telling us. Yes, I know! We are putting our home-buying on hold since we haven’t found anything that we like yet.

What else should someone do who is preparing for self-employment?

 

Spend your money smartly – How can you stay away from debt problems?

Do you spend money within your means? Most people don’t and this is the reason why debt problems are increasing so much these days.

When you spend money in excess, you won’t be able to keep a track of where your money is going out. There are suitable debt solutions such as consolidation and settlement that helps you get rid of debt soon. You can get information about the solutions for your debt problems from the different financial websites. Since all debt solutions will not suit you, you will have to find out which is best for your situation. By reducing some expenses, you may be able to bring finances under your control and not fall into debt.

4 Ways to keep control on your money and do not incur debt

Read on to know the 4 ways how you can keep control on your money flow so that you do not incur debt.

Spend only on your necessities for the time-being

Are you facing financial problems? If yes, then you should purchase only the necessary items for now till your personal finances improve to some extent. As such, you may have to part with your luxuries for sometime. Thus, when you’ll spend only on the necessities, you may not get entrapped into debt. However, if you’ve spend a lot of money earlier due to which you have fallen into debt, then try to repay them soon so as to become completely free from debt.

Budget is what you need to spend money efficiently

Have you drafted a suitable budget for yourself? With the help of a budget, you will be able to understand how much you can spend from your monthly income. If you do not stick to your budget, then you may incur debt problems unnecessarily. As such, see that you follow the budget you’ve made so that you can spend money accordingly and also stay away from debt worries.

Another way to budget is to get a scotlandstrustdeed.co.uk in order to pay off your debt.

Use cash when buying the essential items

Do you have the habit of swiping credit cards for buying your necessities? If yes, then you should pay off the outstanding balance on time. When you don’t repay the balance, you may fall into unnecessary debt. Thus, instead of using your credit cards every time, why don’t you purchase the necessary items with hard cash? By doing so, you may not pile up debts needlessly.

Savings is a necessity to have a secured future

How much have you saved till date? You would have hardly paid any heed to it unless you found you’ve mounted up huge debt that you need to repay. If you have some good savings, why don’t you use them now to eradicate the debts? Make sure you do not use all your savings towards eliminating the debts. You must keep some money in the savings fund so that you can have a financially secured future.

Handling your personal finance smartly is essential if you want to stay financially secured. Thus, you should consider the above-discussed ways so that you may not incur debt problems in the future.