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A Must follow guidelines before starting as a Freelancer

Freelancing industry is booming and a lot of professionals consider it the future of work. Here is how one can prepare himself to enter the freelancing world and rule it. 

Tuesday October 18, 2016,

4 min Read

The freelancing industry is appealing to many. There is a wish to move out of that cutthroat work culture, the hectic commuting, the disturbance around, and the salary disappointment. A lot of professionals find freelancing as an escape from the 9-5 job routine.

However, the truth, or you can say the bitter fact is, this the freelancing industry is promising but not initially. More or less, it is like starting up a new business and thus one needs to have full-fledged preparations for the same.

There are some secrets to become a successful freelancer. Just follow the mantra and you are there. Understand, that it is not an overnight process. A day you quit your routine job and another day, looking out for freelancing projects and expecting big bucks for your talent. Thinking this will leave you in losses; so just beware. It is better to prepare yourself for the good and bad that comes along the freelancing industry, before actually entering the arena, where you might have to compete at global level to find good projects. Profits would be high, so should be the hard work. So, let’s get started with a quick guide with some what to do and what not tips to enter and eventually rule the freelancing world.

a) Financial Preparation

As said, the getting started with full time freelancing is more like getting started with a new business. No matter what the job type is, be it the designer, writer, developer, accountant or anything, it is initially a business, run by a solopreneur. Adopting the mindset of a business is important, at both psychological and financial level. Because it takes time to establish this freelance business, having backup for finance is very important to deal with the initial days. If you are the main earning member of the family, make a plan.

b) Non-Financial Preparations

Other than finances, it is important to make a presence so that people get to know the real you, at personal and professional level. Plus, do a warm-up session before getting into part time freelancing. Here is what has to be done.

• An online portfolio, a LinkedIn profile, or a website. Anything can work when it comes to giving an introduction of who you are and what you do. An active profile gives the confidence that a resume cannot. So prepare it.

• Referrals to get freelance work projects works well initially. By the time you are busy connecting to freelancers online, make the most out of direct referrals. Tell your ex-colleagues that you are available as freelancers and make contacts.

• To get familiar with online freelancing world, it is better to be a moonlighter while you have the 9-5 job. Moonlighters are part-time freelancers who do their project work at night. This will also introduce you with the online world, its positives, and the consequences.

c) Pre Freelancing Preparations

There are few things, if done beforehand gives a sigh of relief later. For example, understanding and setting up accounts to receive payments, risk involved, how it works are some factors that should be known.

• Freelancers also have to pay taxes. Therefore, it is necessary that an accountant is hired or his suggestions are taken beforehand. This is let you have an idea of how the bid has to be placed, how much is being earned, how much will go as tax etc.

• Check out the sources that can be utilized to transfer the payment. Make an account, get them verified, and find out the cons and pros of using them. This will not disturb the work cycle.

So, once the set up to launch the business is prepared, it is the time to find freelancer websites that can help to get projects. These platforms are huge and are complicated at the same time. Read out the terms and conditions that they have before proceeding with them. The industry is great, its promising, and is defining the work culture for gen next. So, get set and get started.