Thinking of becoming a freelancer? Here are a few tips before you go full-time:
USE YOUR EXISTING NETWORK:
A lot of people start out by increasing their network, without ever really learning how to utilize their existing network. Make sure you take note of your family, friends, and peers who would be helpful partners or who might be able to make an introduction for you. Reach out to these people often, and keep them informed about what kind of work you are looking for. Remember, your community and network is one of your most valuable assets as a creative, be sure to show them the kind of respect you’d like to have reciprocated.
MANAGE YOUR NETWORK
Even when you’re first starting out, you should have some way of managing your network, or it can easily get out of hand. A lot of larger companies use a CRM or Customer Relationship Management tool. I currently use Honeybook (Click here to get 20% off your first year). A CRM tool like Honeybook helps manage your past, current, and potential clients’ communications, contracts, payments, and more.
There’s no better time to experiment with your business, than when you don’t have to depend on it. It’s a great time to experiment with different types of work while you have the security of a full-time job. Some things to consider:
- Follow your interests, and make sure you talk to people with similar interests.
- Use the kind of work that balances your skills and is valuable to your network.
- Who or what makes you feel like yourself?
Keep track of your time: As your freelance side hustle grows, you will notice a shift in how valuable your time is. Optimally, to go full-time with your freelancing your hourly rate should be much higher than your salary(divide your salary by 2080 hours to find your hourly rate for a 40-hour work week) or current hourly rate. Remember, your rate will have to pay for your administrative tasks that aren’t billable as well. A few questions that help determine whether you should put more time into your freelancing career are:
• Have you said no to larger projects because of your 9-5 job?
• If you did not work full time could you say yes to more exciting projects?
• Is your hourly pay freelancing double, or triple your current hourly rate (divide your salary by 2080 hours to find your hourly rate for a 40-hour work week)?
If you have questions or want to learn more email me or follow along on social: https://linktr.ee/zachjohnsonmedland