or
And share with your friends
This article is the final series of the 3 part guide in 'How to Freelance' it explains how investing your time is crucial to a successful freelance career and how to keep on track with your freelance portfolio spanning into more detail about rates.
You are keeping your freelance talent health by following fundamental steps when self-employed is critical to your success in the future. This article explains how to invest your time and make money right from the outset.
Photo by Ali Yahya
1. How to Freelance: Investing Your Time
Once you’ve made the jump into freelancing, you might consider making it your full-time career, or sticking with part-time work. Regardless of what you choose, always make sure to set aside several hours each week to pursue your projects.
A full-time week tends to be 40 hours. You, however, will be as flexible as you like in regards to time.
Keep in mind, however, that business can slow down. Either budget you're earning carefully or keep a secondary source of income.
2. How to Freelance: Watch The Market
Always keep your finger on the pulse. Constantly research the freelance market, know who the strongest competitors are and always be on the lookout for ways to improve your marketing and quality of work.
- A competitor may become a collaborator at some point, as you may need help on a project. Always remember to keep in touch with those contacts as you may need them down the line.
Check out these trending marketing strategies in 2019 for further guidance:
3. How to Freelance: Raise Your Rates
Down the line, you might consider raising your prices once you’ve established yourself. Freelancers who have more experience are usually able to do this more than a new freelancer can.
- Start small — a 10% increase is probably a good start amongst a consistent client base.
4. How to Freelance: Always Keep Records
As you are a business unto yourself, you need to keep track of your finances. Still maintain careful and precise records of your funds for when tax season arrives, this way you can stay on top. If you would prefer to help, consider hiring an accountant or tax professional to help you.
- Keep track of every old client and new client, their information, and how much you charge them.
- You may also consider opening a separate bank account for your professional earnings to keep track of your profits quickly.
Share with
