Freelance jobs are a great way to build your career at your own pace. They offer you the flexibility to grow your skill set, tap into international markets, and develop interpersonal skills.
However, freelancing comes with its own set of challenges. You’ll need to learn how to manage your finances, admin and pay taxes – things that you might not have learned in your day job.
1. Flexibility
Flexibility is one of the most important characteristics that freelancers look for in a job. It allows them to work in a way that best suits their lifestyle.
It also allows them to pursue their career passion. Two-thirds of freelancers say flexibility to manage their time is the most important aspect of freelance work.
Similarly, more than half of freelancers also say that flexibility allows them to make decisions for themselves instead of being told what to do by their employers.
This gives them a sense of autonomy that makes their work more enjoyable. It also means that they are able to be more creative and come up with solutions that they may not have thought of otherwise.
Another important factor in being flexible is the ability to manage your time efficiently. Being able to set your own schedule, whether you are freelancing or working for an employer, can help you achieve your goals more quickly and easily.
For example, if you want to take your dog for a walk in the middle of the afternoon, that is perfectly acceptable as long as it doesn’t disrupt your productivity or your work hours.
If you are a client, requiring your freelancer to use unproductive time is costly to both parties. This can result in them charging you more for a project or lowering their billable rates to stay within budget expectations.
Being flexible is a skill that can be improved over time. It can be difficult to change how you approach a situation or problem, but it is something that can be learned. Leaders who are flexible are also more likely to lean on other leadership qualities such as creativity, persuasiveness, and effective communication.
2. Earning potential
The earning potential of freelancers is often underestimated. This is mainly because freelancers tend to focus on getting their work done, rather than thinking about processes and how to optimize their business to create even more value for their clients.
Freelance earnings vary greatly, and are dependent on a number of factors. These include your experience level, the market, and your selected niche. However, there are a few key things you can do to increase your earnings as a freelancer.
First, a great place to start is by looking at your own goals. Are you wanting to improve your business skills, become more self-employed or simply earn more money? You might want to consider signing up for an online course or hiring a business coach.
Another way to boost your earning potential as a freelancer is by taking on more projects. This can be an excellent way to build a portfolio and gain experience in a new field, which can help you secure more lucrative jobs down the road.
Finally, take a look at your current client base and decide if they are worth your time and energy. For example, if you have a strong portfolio of clients but aren’t satisfied with the amount of work they’re providing you, you may need to find another niche or change your approach to your marketing.
A freelancer’s career path is not for everyone. Some people do not like the freedom or independence of being self-employed, and others might have deep-rooted limiting beliefs that hold them back from going out on their own. Fortunately, there are many ways to overcome these barriers and get out of your own head.
3. Independence
It’s important to have independence in your life, so that you can accomplish goals without relying on others. This can be a valuable skill, as it will allow you to find solutions that you would not have otherwise considered.
It is also important to be independent in your business. This will help you succeed and grow your business, while keeping you on track with your goals.
You can achieve this by making a budget and sticking to it. This will make sure that you are paying your bills on time, living a balanced life, and saving for your future.
Another way to be more independent is by doing your own research. This will prevent you from calling people for help all the time and will give you more confidence in your abilities.
Being independent can be a lot of work, but it is also very rewarding. You will have a stronger sense of self and a better understanding of what you want in life, which will lead to more success in the long run.
The most important thing about being independent is that it will allow you to do what you love. It will also give you the freedom to take on new projects and try things out that you may not have thought of before.
Despite all of these benefits, you should always be aware of the risks that come with freelancing. If you aren’t, you could end up with serious financial problems in the future. To avoid this, be sure to do your research and consult a qualified financial advisor before taking on any work. The advice you receive from them can be invaluable and will help ensure that your freelance career is secure.
4. Managing your time
Time management is a crucial skill for freelancers. Not only can it help you achieve your goals, but it can also ensure you aren’t burning out and wasting your work hours.
One of the most important things to keep in mind when it comes to managing your time is to set boundaries. Whether it’s around social media or how much you take on, it’s important to have some kind of rule in place.
Another crucial part of effective time management is to focus on the right tasks at the right time. This will allow you to be more productive and deliver higher-quality results.
A good way to do this is to use a time tracking tool like Harvest, Harlow or Indy. It will help you track how long it takes you to complete different tasks, as well as provide reports and charts that can be useful for prioritizing your projects.
You can use this information to determine what projects you should take on first and which ones you can wait for. It will also let you know if you are completing projects in the wrong order, which can be a sign that you should rethink your approach or pricing strategy.
If you’re struggling to balance your workload, try out the “three task method.” This is where you decide which three tasks you would be satisfied with if they were finished by the end of your day. After completing these, you can start working on growing your business and strategizing for your future.
The three task method can be used for every project, and it can help you focus on delivering better results. For example, if you are a freelance writer, you might want to use the method to write articles for your blog. This will help you to get your work out there and create more brand exposure.
5. Negotiating
Negotiating is one of the most important skills you can learn as a freelancer. It will help you achieve your goals and avoid a lot of pitfalls.
Negotiation can also be a good way to build rapport and strengthen your relationships with clients. But it can also be a stressful process, so it is important to approach negotiations with the right mindset.
The first step to successful negotiation is to treat your client with respect and courtesy. This will make them more likely to give you their business in the future, even if they aren’t happy with the final product.
It’s also a good idea to let them suggest their rate, which will help you establish a fair price for the project. However, you should still have a solid understanding of how much you’re worth before beginning the negotiation.
This strategy will allow you to determine the best pay rate for your work and prevent you from accepting projects that don’t align with your rates. It will also help you avoid clients who don’t value your work and may not pay you at all.
As a freelancer, you will have many opportunities to negotiate with clients. This isn’t always easy, especially if you don’t have a lot of experience.
But if you have the right tools and strategies, you can get the most out of every negotiation. You can also hone your skills by talking to other freelancers and learning from their experiences.
Before you start negotiating, take a moment to think about your goals and what you’d like to achieve. Ideally, you want to get paid what you’re worth and have the freedom to choose who you work with.