New To Freelancing? Here are 5 Tips To Get Started
Sep 03, 2021
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You might be used to the typical nine-to-five work week where you’ve sat in a cubicle and received a W-2 for your end-of-year taxes. But now you’ve made the switch to working freelance as an independent contractor.Since the surge of unemployment rates during the COVID-19 pandemic, the United States economy has seen a 22% increase in freelancers entering the workforce as opposed to 2019.
For many, this is an incredible opportunity to create a more flexible lifestyle and gain financial freedom. However, there are certain things you’ll want to know as you get started with your freelancing career.
Here are five tips to keep in mind.
Create a Schedule
The one thing you will learn rather quickly upon starting your freelance career is how important self-discipline is. Regardless of the field, you’re in, it’s crucial to set yourself up with a schedule.
Yes, the idea behind freelancing is to allow a bit more freedom in terms of how and when you work. However, it can be easy to let work slide a few hours here and there, ultimately causing you to fall behind.
Figure out what your prime hours are. These are the times you are most productive. For some, it’s bright and early in the morning. For others, working later at night is when they find more creativity and energy to finish up a project.
Another idea to consider when working as a freelancer is keeping a schedule that coincides with the majority of the workforce. You can still work the nine-to-five workday you were used to working before. It’s all about maintaining that schedule consistently since you won’t have a manager monitoring when you clock in or out of work.
Keep Track of Your Finances
As a freelancer, it’s your responsibility to manage your end-of-year tax return. Due to the nature of your work, you may have a 1099 or another tax form based upon the type of small business you have started. In either circumstance, keeping track of your expenditure is a part of the work as well.
Because you aren’t having taxes taken out of your paycheck regularly, you’ll have a higher payment come April the following year. Keep all of your receipts and start a folder in your email that makes your electronic receipts easy to find.
These will be used for your deductions, such as office supplies or business trips. It’s always a good idea to hire an accountant who can help you properly document and pay the lowest amount on your return possible.
Have a Designated Office Space
There are times where you find yourself working on the couch or at the kitchen table all day. Once your workday is over, you are once again sitting on the couch to unwind or at the table for dinner. One helpful piece of advice many freelancers try to maintain is keeping professional and personal life separate within the home. Create a space for yourself within the house or apartment that is designated for work.
There are also several other options, such as co-working spaces or working at a coffee shop that has an internet connection. That way, you’re mixing up your location and getting yourself out of the house to separate your work and personal life.
Continue Furthering Your Education
One aspect of freelancing many people don’t consider is that most of the time, the concept of getting promoted doesn’t always exist. You might be a graphic designer or illustrator that works primarily with a project-to-project structure. Since you are technically your own boss, it’s important to find ways to build value for the services you offer.
Taking online courses that are accredited as continuing education units (CEUs) is a great way to continue enhancing your career goals. You can gain more knowledge to apply towards your industry, which enables you to charge higher prices or expand the types of services you offer as well.
Find Ways to Connect
Working in an office with other coworkers is a completely different setting than working remotely. You are probably used to having conversations with others while brewing a cup of coffee or leaning over someone’s cubicle to ask about the status of a report. You won’t get much of this when you are a freelancer since you’ll be working alone most of the time.
We thrive off of social interaction. A part of finding balance with this style of work is about finding ways to connect with others outside of the job. Websites like MeetUp.com offer groups for writers, designers, programmers, and other like-minded creatives to get together after hours for networking and social opportunities. You could also join a gym that offers fitness classes or take up an adult art class to get your healthy dose of social contact.
Overall, give yourself some time to get used to the flow of your freelance work. It’ll take some time to adjust but you will eventually be able to figure out a balance that is right for you.
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