Everyone has their own take on the freelance world and anyone that has been there and done it will more than happily throw their two pennies in given the opportunity to. Some will tell you it is the most satisfying, rewarding and (possibly) financially wonderful decision they have ever made. However, others may warn you of the pitfalls associated with such a move, and tell you about the lack of holiday pay, and save up for a pension and how hard it can be when a client does not pay. One thing you will learn once you have made the leap is that there are very few actual answers, most of it is just people telling their story.
With that said, there are a few things that every new freelancer should understand and brace themselves for, especially in those first few months. That is why we have come up with a list of essential rules every freelancer should follow. You may be a freelancer now, but it is a business you probably want in the long run.
You Have To Spend If You Want to Make
It is excessively easy to think you have everything you need when you first enter the world of freelancing. You want to get into copywriting, so all you need is a laptop and an internet connection, right? Wrong. There are other large investments you need to make now that will help you in the long run. There is the cost of a snazzy website, doing work for free to build your portfolio, joining organizations you will need to get business, attend networking events, going to workshops and all sorts of other events. These cost money, but they are so necessary to your success.
Learn How to Improve Your Cash Flow
When you are an employee, you do your work and you are paid at the end of the month (hopefully) without fail. This is not the case when you go it alone. You are now responsible for collecting the money you owe and it is something you need to get proficient at. That means knowing about invoice factoring, which you can read all about at Interstate Capital. It means knowing the power of being polite and allowing 21 days between receipt and payment. It also means knowing you have the right to charge interest on late-payments too. Without cash flow, your hopes of success could quickly be dashed. So make sure you know how to up your invoicing game.
Make Sure You Are Building Relationships
The doubt is one of those things that creep into the mind of just about every freelancer. Why? Because we are human and we have just made a huge leap into the unknown, whereby we do not know where our next gig is coming from or how you are going to make your next dollar. Luckily, being freelance is not about making money. No. First, it is about building relationships. Repeat business is the best business because that is how you get referrals. However, to get to that stage you have to be interested in helping others to begin with. Not yourself; others.