6 things you need to know before quitting your day job to go freelance
The thought of going freelance working for yourself is the ultimate fairy tale for many Australians. But being your own boss, working the hours that take your fancy and only taking on clients that make you want to get out of bed each day is a way of life for a growing number of entrepreneurial creatives.
Take it from someone whoโs been a soloist for more than a decade โ itโs brilliant. Totally and utterly awesome. Iโve turned down in-house roles over the years because Iโm motivated by my professional independence and enjoy being location-independent, which means I can work from my own home office around my family life.
Iโm not alone. Australiaโs freelance workforce is booming as the notion of work and earning a crust evolves.
Increasing numbers of creative types like copywriters, photographers, web developers, journalists, creative directors, PR folks, editors, filmmakers, producers, software developers and their clever creative cousins are taking advantage of technology improvements to forge a solo career online.
Sound appealing? Well, thatโs because it is. But having said that, freelance is not for everyone. Before you take the plunge, consider the following aspects of a soloistโs life to see if itโs something that would suit you.
The thought of not commuting to work on public transport and instead opening your laptop in your pyjamas at the kitchen table with no one to bother you sounds too good to be true.
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But some creatives that go out on their own will miss that hustle and bustle, because freelancing can be a lonely profession. Often, youโre working from home, isolated from colleagues, apart from when you go for interviews to pitch your services or meet with your clients on the odd occasion. Sometimes, you can go an entire day without talking to anyone. There are ways around the isolation, of course, but you need to consider whether youโre the type of person to cope well with it. Sure, you can head to a cafรฉ or co-working space, but for all intents and purposes, youโre ultimately still a lone ranger out there. Make sure that you get to know other soloists as these people will become your โcolleaguesโ and sometimes even refer you work.
Many assume that when they work for themselves, theyโll be able to take week days off and start work late. And sure, sometimes you can. But itโs often difficult to predict whether or not youโll be busy in the coming week, so committing to a lunch date is difficult because sure enough, just as you head out the door, youโll get an urgent call from a client needing something from you quick smart. Or a project will take longer to finalise than you had anticipated.
If you do take time off, youโve usually got to make up the lost time somewhere. Successful soloists are busy juggling multiple clients and deadlines. And if youโre hoping to be one of them, sometimes youโll be working in the middle of the night, or before dawn to keep your clients happy. Swings and roundabouts, people.
Youโre in charge of your destiny when you fly solo. Thereโs no one around to monitor how much work youโre getting done, or whether youโre meeting your targets. Youโve got to do that yourself. Not getting distracted by housework, making phone calls or scrolling through social media can be hard for some. But if you donโt hold yourself accountable, your work will suffer, and your clients wonโt come back. The self-discipline required to consistently chase client leads, quote, do the work, invoice for your time and market yourself is something most people either have, or donโt.
Staying on top of trends in your creative sector will help you stay ahead of the game. This doesnโt mean you waste time trying to figure out everything, but you need to allow time between clients here and there to figure out which trends could impact your business both negatively and positively, and how you can use them to your advantage. This can include new apps and tools to streamline your own processes, a new service offering to add to your website or how to collaborate with other soloists to complement your services.
Youโre in charge of how much you earn now, and failure to negotiate means youโll be stuck with low rates. Thereโs no fixed salary with holiday and sick leave, so youโve got to be able to negotiate reasonable rates for yourself and be prepared to put your prices up as you gain a reputation for yourself.
Having the self-confidence to do this isnโt for everyone, but itโs paramount if youโre going to be successful.
Completing a project for your client is only half of the job of a soloist. Thereโs a swag of other elements that go into working for yourself that many donโt consider, and how often and well you do these things will determine how much you earn, and how easy you are to find on the interwebs.
These include tasks such as tracking your time, invoicing, quoting, client meetings and marketing yourself by updating your LinkedIn profile and ensuring you have a decent profile online. You want to ensure youโre easy to find when someone needs a freelancer with your skills.
So weigh it up, and decide whether or not youโre the type of person thatโs cut out for the solo life before you quit your day job. Being the CEO of your own business is brilliant, but certainly not easier or less work than a day job.
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