Categorized | Career

4 Steps To Going Freelance

Posted on 06 October 2008

You’ve talked about, dreamed about it and now you are about to put in your resignation. After many months (or years) of moonlighting, you’ve decided to go freelance full-time. Whether your side business is creating custom made rocking horses, writing creative copy for businesses or selling homemade wreaths, your side business is calling for your full attention. However, are you completely ready to quit your steady job? Here are 4 steps you will need to take before you say “I quit”.

Step One: Get Support From Your Family

A crucial ingredient for freelance success is support from your family. Do they want you to freelance full-time? Or do they depend on your full-time income or benefits? In order for freelancing full-time to work, your family should support you working from home, which includes respecting your office hours. For example, if you have children, this may mean you will need to hire a babysitter to watch your children during work hours.

Step Two: Figure out Your Finances

Do you know how much you need to live off of every month? Do you know where your extra money goes? Do you have debt? These are important questions to ask yourself as you prepare to freelance full-time. Once you have a workable budget, start paying off debt, perhaps using the money you earn in your side business. When you start freelancing full-time, you will have a lot less stress to bring in money quickly because the debt will be gone. Also, keep at least 4-6 months salary in the bank to live off of during the lean times.

Step Three: Make a Client List

Along with your client list, make a list of potential clients. One freelancer I talked with quit his full-time job, with one huge, steady client on his list. A month later, the client laid off their entire freelance staff. The lesson? Don’t rely on one client to give you work, have at least 2 or 3 clients who give you steady work and pay you on time. Also, before quitting, increase your networking and marketing efforts to get your business name out there.

Step Four: Organize Your Business Space

Is your workspace or office organized? If not, now is the time to do it. Knowing where important documents, assignments, invoices and more are will help your business get off to the right start. This is the perfect time for stocking up on pens, files, filing cabinets, computer paper, etc.with the back to school sales. And be sure to keep those receipts to write them off your taxes next year!

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1 Comments For This Post

  1. Freelance says:

    Great tips. These are some important things to consider before quitting your day job. Especially, having family support and having more than just one client.

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