Want to know how to manage a freelancing career? Here’s the inside scoop!
If you’ve just started as a freelancer, you may be facing several challenges. That’s completely normal. After all, freelancing requires high commitment and organization, right?
As great as it is to have the freedom to manage your own time and business, there’s financial planning too. You’ll also have to deal with occasional instability and set clear and concise goals to get you where you want to go.
In light of all that, we’ve compiled 7 essential tips in this article to get you started on the road to successful freelancing. Check it out!
Here are 7 tips to help you start out as a freelancer
A freelancing career has many benefits. One of the big ones is being free to manage your schedule and earn more money. Of course, it all depends on how many clients you take on and the pricing of your services.
That being said, starting is not so simple. It requires lots of patience, organization, and financial management, regardless of what business segment you’re acting in.
But don’t panic! We’ll share everything you need to know in these 7 tips below. Keep reading!
1.Keep your personal and professional lives separate!
The first thing to know is that even if you are responsible for every aspect of your business, keeping the private individual and legal entity separate is a must.
We’re talking about separating finances, having an organized, functional workspace at home (that keeps out as many distractions as possible), and even setting certain boundaries For your client interaction. Then, you won’t risk seeming unprofessional.
One good way to get started is to formalize your freelancing career. You can do this by registering a CNPJ (National Register of Legal Entities) and considering your business a service provider. We’ll cover more on financial development, time management, and other challenges you might face below.
2.Set objectives and goals
Like any company, freelancers should have clear objectives and goals to help them build up the quality of services, increase revenue, and have a client base.
After all, as we mentioned before, it’s not an easy road to travel. So, knowing what you’re aiming for will help you plan for more strategy.
Let’s say your financial goal for 2022 is a monthly revenue of R$ 10,000.00. Consider the prices you’ve established for your services and ponder the following questions:
- How many clients would you need to earn those figures?
- How many prospects would you need to reach that number of clients?
- If a client decides to end their contract with you, what measures will you take?
- Could you increase your prices or earn more from your package deals having fewer clients?
Map out the answers to these questions to give yourself clear directions on how to deal with each situation as it arises throughout your freelancing career.
3.Get organized financially
Financial planning is definitely one of the most important topics for any novice freelancer.
That’s because working on your own requires double the financial management. You need to make sure you have the money to keep your business running and pay your expenses during lean times.
The first thing to do is separate personal and professional expenses. Put down your monthly business costs (tools, courses, etc.), your salary, and finally, build up your emergency fund.
Then, during eventual periods of instability, you’ll have the money you need to keep anxiety levels low as you work to attract new clients.
Another important measure is to keep separate bank accounts for yourself as a legal entity and private individual (to avoid any mixups). Also, make sure you protect yourself legally by having a contract, which will make your dealings with clients fairer.
4.Learn about effective pricing
It’s a question many novice freelancers ask. How can you charge prices for your services that are fair to both you and your clients?
Here are some essentials to help you out with calculations and avoid undercharging.
- The costs of setting up your services;
- Your hourly rate;
- Financial planning (where you are and where you want to be);
- The quality of your service (are you an experienced professional, or are you still learning?);
- Market research (how much do competitors charge for the same service?).
5.Monitor sites for freelancers
When you’re a novice freelancer, it’s normal not to know where to start looking for clients and building your portfolio. Websites for freelancers are a great option.
Several online platforms are mediators between freelancers from different segments and potential clients. Workana, 99Freelas, and Rock Concert are just a few of many.
Each is different, with some managing contact between professionals and clients and others managing payments too. Most of them allow you to set up your business offer and make it easier to build a portfolio and attract future clients.
Like having financial organization (essential for any freelancer), you need to carefully manage your time to meet deadlines and factor in downtime.
To avoid procrastinating or spending too much time on certain tasks, there are a few things you can remember to do:
- List daily tasks in order of priority;
- Monitor the time spent on each to make sure services reflect prices accurately;
- Keep distractions at a minimum as much as possible (TV, phones, and social media, for example);
- Focus on one thing at a time. That will help you avoid trying to do everything at once and ending up doing nothing;
- Learn to say no when you can’t do something for a client;
- Use time and productivity management tools to help you get organized.
7.Learn how to deal with instability
Here’s the cherry on the top of our list: instability in the freelancing lifestyle. And yes, you will be faced with it sometimes! So, it’s essential to know how to prevent anxiety from taking over.
Instability usually arises when clients decide not to continue contracting services and work becomes scarce, resulting in less income. It can also happen when you’re scouting for new clients and having trouble negotiating and closing deals.
It’s normal to feel disheartened and a bit lost. That’s why financial planning and goals are so important. Objectives give you that needed security during those times and help you get through.
Instability is also the perfect opportunity for some reflection. Think about your services, how you operate, what you can do to add to your client experience, and how to boost the value of your business.
Want more tips for successful freelancing? Follow our blog and keep up with our content to boost your career!