#Freelancetips
Freelancer contracts are another thing that can cause anxiety for even the most pragmatic freelancer. It's another one of the most common mistakes new freelancers make โ thinking they can just skip the contract and pray that everything turns out ok. We're here to tell you that there are all kinds of ways for things to go wrong when there's a partnership without a contract: everything from scope creep to your client ghosting you when they get the bill.
And without a contract, it's basically impossible to do anything about it. Luckily, it's not nearly as scary as you think. Even Google Docs has a very basic Freelancer Contract template in their template library.
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#Freelancetips
People often assume that freelancers sleep until noon, do a few hours of work and call it a day by the local pubโs happy hour (why not, if it works). Sure, you can 100% reach that point as an established freelancer, but itโs not possible to start-out with this structure and expect to make a living off being a solopreneur.
Marketplaces havenโt provided support for freelancers, and theyโve made businesses the heroes instead of the solopreneur doing the work.
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#Freelancetips
As a freelancer, you'll soon learn that your to-do list will always be longer than the amount of hours in a day. As a business owner, one of the most important things you can do is pinpoint what activities are creating the most value for your business, and which ones you should outsource.
Take invoicing, for example. You'd think freelancers would love creating invoices because you're about to get paid, right? But as it turns out, the vast majority of freelancers struggle with these dull, repetitive tasks โ which is why they should be the first ones on your list to automate or outsource.
Keep in mind that in any and every freelancer forum, there will be freelancers that swear by a certain app or platform. But it's important to find the right one for you. Every freelancer is different, and it takes some IRL experimenting to learn which ones are your tech tool soulmates
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#Freelancetips
Managing finances as a freelancer involves more than just basic budgeting. Key strategies include:
1. Income Tracking: Set up a system to monitor earnings, helping to anticipate cash flow and avoid overbooking.
2. Separate Bank Accounts: Use a dedicated business bank account to simplify tracking and legal compliance.
3. Client Invoicing: Address invoicing proactively to ensure timely payments, and consider shorter payment terms or retainers.
4. Expense Tracking: Regularly document expenses to maximize tax deductions and identify spending patterns.
5. Budget Creation: Estimate income and expenses to evaluate financial health and adjust strategies accordingly.
6. Pay Yourself Wisely: Differentiate between gross profit and net income to determine a sustainable salary.
7. Insurance: Invest in appropriate insurance to protect against potential business liabilities.
8. Professional Help: Consult accountants for tax advice and financial planning, especially if working internationally.
Overall, freelancers should actively manage their finances to ensure stability and growth.
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One of the mistakes we see new freelancers make is not reaching out to fellow freelancers in their industry. While it can be easy to fall into the trap of seeing them as competition, or being hesitant to engage because it triggers your imposter syndrome, the fact is that these people are your people. No one else will be able to understand the highs and lows of freelancing like your fellow solos.
And while the community aspect is invaluable in itself, it's super common for freelancers to share jobs that they're either too busy to take on or not right for. And as a member of the community, you'll be in a great position to leap on these juicy opportunities!
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#Freelancetips
No matter how confident you are in your skills, the reality is that way the world works is evolving at lightning speed โ with a 0% chance of slowing down anytime soon. What does it mean? It means that taking a single Hubspot course about Introduction to SEO back in the Spring of 2010 (or 2019, for that matter) isn't gonna cut it by today's standards. Especially if you're claiming to be an SEO expert.
By choosing to earn a living as a freelancer in today's competitive landscape, you're committing to life as a forever student of your chosen craft. And while courses can be a great way of staying up-to-date, it comes down to retaining your sense of curiosity.
Commit to reading just one article a day and watch how quickly you pick up the "industry lingo." Listen to podcasts. Watch tutorials on YouTube. Attend webinars. Follow other industry professionals on their chosen medium and keep an eye on what they're up to. Join a community, as suggested above. As long as you remain engaged in your craft, remaining on the cutting edge becomes a lot easier.
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New freelancers often make the mistake of setting up a website and creating expensive business cards, expecting clients to come to them. To maintain a steady flow of leads, itโs essential for freelancers to learn how to effectively pitch their services.
This might involve reaching out to local businesses that need help, such as improving their social media strategies, and sending proposals that highlight the benefits of their services. Initially, freelancers may face many rejections, but by refining their approach, they will start receiving more positive responses. Ultimately, with persistence, they can secure clients well in advance, reducing the need for constant pitching.
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When feedback burns your fragile freelancer ego, it can be easy to come up with excuses to help distance yourself from shouldering that shame. "They have no idea what they're talking about?" or, "They're just trying to devalue my work so they don't have to pay."
And yes, sometimes that is the case. But by choosing to shoulder the responsibility (even just momentarily to see if it truly belongs to you) โ you put yourself in a place to actually do something about it. Just like any other relationship, honest, open communication is key when freelancers and clients work together. So take that negative feedback, hold it up to see if anything can be gained or learned from it โ and then let it go. Once the lesson is learned, there's no need to continue carrying that shame along with you.
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Thereโs a lot to like about being a freelancer. You set your own hours. You choose your own clients. You work independently, control your workload, and vacation whenever you like. Who wouldnโt want a job with all those perks?
But just like any other career, being a solopreneur โ especially if you work remotely from home โ has its downsides. There are occupational hazards just like with any other job. And if you're not aware of the dark side of freelancing, your physical and mental health will suffer the consequences
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Itโs really bad when random people on the internet make it seem like the transition into life as a freelancer is a cakewalk. It's not. There will be times when you feel like you're doing everything right, and you'll still struggling to keep the bills paid. Why are we telling you this? Certainly not to make you think freelancing isn't for you โ quite the opposite.
It's important to be prepared for those freelancing dry spells because they happen to all of us. And when these freelancer dry spells occur, having the right mindset is what will get you through.
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