Fundamentals of Becoming a Freelancer

Freelancing has never been more popular as a career path than now. Technology makes it possible for many jobs to be done remotely, and workers and businesses alike are realizing the benefits. Freelancers are able to make a living in their industry while enjoying flexibility, freedom, and convenience. Companies are becoming increasingly comfortable with hiring freelancers because it can provide them with expert services on an as-needed basis, leaving them with fewer obligations than hiring full-time employees.

If you’re thinking about using your talents and skills in the gig economy, now is the perfect time. Here are some essential tips for getting started.

Identify your goals.

First of all, it’s important to know what you hope to accomplish in the gig economy. Are you wanting to supplement a portion of your income or become a full-time freelancer? How much freelance work do you want to do, and how much do you want to get paid? Defining your goals will enable you to move forward with confidence.

Plan it out.

Once you know why you’re entering the gig economy, it’s time to start planning. Take your business idea and turn it into a business plan. Work out the specifics of the product or service you will provide and identify your target clients. Set in stone your mission statement and core values, and make financial projections for the first several years of your business.

Build a website.

Every freelancer needs a quality website to showcase their skills and portfolio. If you’re completely new to your line of work, you may not have many projects to present in your portfolio, but you can highlight your skills. And if you have a professional website that looks attractive, is easy to navigate, and provides a wonderful experience for visitors, it will go a long way in making you look reputable. To make your website stand out from the crowd, you’re best off hiring a professional web designer. 

Handle legalities.

The Write Life notes that becoming a freelancer comes with various legal responsibilities. It’s best to handle these matters early in the process so that you can avoid issues down the road. This includes establishing a business structure, registering your business name, getting the necessary licenses and permits, and more.

Compliance with state and federal regulations also makes payroll a biggie when it comes to administrative tasks. First, learn what it means to process payroll, from the concepts to actually managing employees’ schedules and paying them on time. Next, consider setting up an automated payroll system, which will allow you to make required tax payments in a timely fashion, averting costly mistakes like missing tax payment and filing deadlines.

If you’d like to learn more about setting up payroll, along with financial planning, taxes, and essential accounting principles, you can earn an accounting degree. Instead of attending an in-person learning institution, consider enrolling in an online program which allows you to work at a pace that suits your schedule.

Network every day.  

You can never network too much. And in the gig economy, much of your client base and working relationships will depend on the time and energy you put into networking. Make sure you are keeping tabs on industry events that you can attend, and start engaging on social media to meet other professionals.

Promote your brand.

As with any type of business, building your brand must remain a top priority. As soon as you have a logo and other branding elements in place, begin promoting your services via social media, email marketing, and other channels. If you want to tap into the local market, think about distributing physical marketing materials around town, as well.

Getting into the gig economy can be an excellent way to make a living and strike a better work-life balance. But to reach long-term success, you must lay a solid foundation upon which to build your business. Along with following the tips above, keep researching how you can position your freelance work to thrive for years to come.

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