Whether you’re an artist, a plumber, a writer, or a contractor, there are many different ways to make a living as a freelancer. You can subcontract specialized parts of a project or you can do your work completely on your own. Whatever you choose, there are a few things you should know before you begin working as a freelancer.
Get hired
Getting hired as a freelancer is a great way to save money for your business. However, you must first create a system to work with your freelancer.
Freelancers can be found through various platforms. Upwork, LinkedIn ProFinder, and Fiverr are just a few of the websites that help connect freelancers and clients. Each of these sites offer resources to help freelancers price their services.
There are three factors that you should consider when determining pricing. These are the inputs, the outputs, and the estimated time you will be able to devote to the project. You should also consider the value you can provide to the client. If you provide a high value service, you will be able to build a strong relationship.
A strong portfolio can demonstrate the value of your skills. It can include mock-ups, images, charts, and other examples of work. It can also show past projects. You should also include case studies and testimonials.
You should also create a contract for your freelance project. The contract should cover the scope of work, payment terms, and intellectual property rights. It should also include a timeline. It is a good idea to get legal help with the contract to ensure you are covering everything.
If you’re just starting out as a freelancer, it’s a good idea to get a lawyer to review your hiring plans. Freelancers can be misclassified as employees, which can lead to penalties.
The best way to get hired as a freelancer is to create a strong portfolio. This can include samples of past work, images, case studies, and data-driven results. You should also ask clients to give you permission to include their work in your portfolio.
Work from home
Whether you are looking for a part-time freelance job or a full-time career, working from home can be an exciting way to earn money. If you have good writing skills, you can create content for websites, publications, and other businesses.
If you have a passion for social media, you can also become a freelance social media assistant. You will need to have the skills to manage social media accounts and engage audiences. You do not need a bachelor’s degree to do this job.
Work from home freelance jobs vary from writing articles for a publication to developing content for a commercial website. You may also have to coordinate with other team members and professional partners.
When working from home, you will need to set up a schedule that includes time to communicate with other coworkers and clients. Establishing a regular workday schedule can help you stay productive. You can also prioritize tasks based on deadlines and other criteria.
Work from home freelancers should have a clean and quiet workspace. They should also invest in a comfortable chair and reliable internet connectivity.
Work from home freelancers should keep a to-do list to help them stay organized. A dry-erase board can also help keep you focused. It can also be useful to set up a phone alarm when you are finished for the day.
Depending on the type of work you are doing, you may also have to make regular follow-ups with clients. You may also need to check in with team members or professional partners for additional instruction.
A professional appearance can help send a positive message to both clients and coworkers. A clean, well-groomed appearance can also help you increase your productivity.
Taxes
Whether you’re a full-time freelancer or just an occasional freelancer, tax season can be stressful. Fortunately, there are many ways to make tax preparation easier and save money.
First, you should have an idea of whether or not you qualify as a freelancer. If you’re self-employed, you must pay self-employment tax. It’s 15.3% of your taxable income. You will also pay Social Security tax (12.4%) and Medicare tax (2.9%) on the amounts you normally withhold from an employer’s paycheck. You’ll also need to pay state and local taxes.
To make tax preparation easier, keep your receipts and other documents in a folder. You should also maintain separate business and personal accounts. It will be easier to claim deductions if you keep separate records.
For example, you may deduct expenses such as office supplies, utilities, and rent. You can also claim 50% of your business meals. You may also be able to deduct vehicle expenses.
You’ll also need to report your income on Schedule C. You’ll find this form on Form 1040. It’s where you report your net income, which is the amount of money you make after subtracting expenses.
Freelancers should keep a record of all income they receive, and the expenses they’ve incurred. It’s also a good idea to keep your records for a few months to make sure you’re keeping track of all your income and expenses.
Freelancers should also estimate their tax payments each quarter. They should set aside at least 25 percent of their income for taxes. You may also want to use a tax calculator, such as Bonsai, to figure out how much tax you’ll owe. You can also hire a professional to help you prepare your taxes.
Isolation
Whether you’re working from home or in an office, isolation can be a reality. Isolation isn’t only disheartening, but can have negative effects on your health. There’s an old adage about loneliness being as dangerous to your health as obesity.
The best way to combat isolation is to surround yourself with other freelancers. If you’re a freelancer trainer, consider joining a networking group. These groups can give you a chance to meet other freelancers, share advice, and find new work.
In addition to networking groups, try to meet new people outside of work. Attending local events is a great way to make friends, while taking a trip to the local mall can give you a dose of fresh air and remind you that you’re not the only freelancer in town.
The National Institute on Aging reports that socially active individuals have lower levels of Interleukin-6, which is associated with cardiovascular disease.
It’s not always easy to be social when working from home, but there are ways to overcome isolation. One way is to park your vehicle a bit further away from your destination. Another is to take a walk during lunchtime.
There’s a lot of social interaction to be had if you’re living in an apartment, though. You may have to put in a little extra effort to meet new people, but it’s worth the effort.
Another way to avoid isolation is to look for a new workspace. Finding a new home office can provide a refreshing change of pace, and can even provide a bit of inspiration.
The most important part of any new venture is to be self-aware. It’s important to know your strengths and weaknesses. Being self-aware can also help you learn from your mistakes and grow.