Helpful Insights on What to Keep In Mind As You Make the Move to Freelancing
Freelancing might not be suitable for everyone, but it’s slowly becoming a more viable option for many. More employers are turning to the services of skilled freelancers, through whom they can outsource work. In addition, there are a great many tax breaks and incentives for those who work from home.
So if you’re fed up of the day-to-day grind of your current job and are wrestling with that Big Idea that just might make you an internet billionaire, then maybe you should consider going freelance. However, before you do, there are some things you might want to factor in to try to ramp up your chances of success.
Scout Out Your Market and Plan Ahead
A little investigation will tell you whether there’s a call for the services you offer or whether that amazing invention you’ve come up with already exists. If there is demand, you need to know just how much, what you can reasonably expect to charge for what it is you do, and who the people are who will want what you’ve got to offer. It’s also worth considering just what it is you feel sets you and your services apart from the crowd. At some point, you’re going to need a marketing campaign and unless you know who it’s aimed at and what your USP is you’ll be shooting in the dark. In essence, this all adds up to creating a business plan, but you’ll be fairly hamstrung without one.
Join a Group, Freelancing Organisation, and/or Networking Association
The world of freelancing is a cutthroat one and the financial safety nets offered by regular jobs are nonexistent for a freelancer. The closest thing to a union you’ll find for freelancers is the PCG; a trade association that represents the interests of freelancers and entrepreneurs.
PCG will give you advice and explain how to create watertight contracts—all the business nitty-gritty that can so often go overlooked. It can also put you in touch with other freelancers who will be able to pass on the benefits of their experience. It might not be as effective as a bona fide union, but there is plenty of mileage in joining this organisation.
Keep the Numbers In Mind
It’s too easy to get caught up in the big idea and forget about the details. When it comes to freelancing, those details are always in numerical form. You need to know just how much is coming in and how much is going out. Business accounting software, such as QuickBooks from Intuit, is the unsung hero of many freelance businesses. Knowing exactly how much you’ve spent, how much you’ve got, and how much you’re due can help you to make crucial business decision, without getting into trouble.
In addition, business accounting software can help you prepare for important business dates such as your company tax return. Numbers don’t have to be frightening and the majority of business accounting software packages are designed for ease of use and for those who don’t have an accounting background. Stay on top of the figures to begin with and watch them work for you.