What to Know About Freelancing Before You Get Started – Part One
Freelancing is on the rise, especially since the Great Resignation and the layoffs and job losses caused by the looming threat of recession. Finances Online recently reported that at the current rate of growth, there will be 90 million Americans involved in some freelance work by 2028.
Freelancers can set their own pay rate, work with who they want to work with, and do as much or as little as they want, based on their own personal circumstances. Many freelancers are motivated professionals looking for better, smarter ways to work with corporations that need assistance on marketing, financials, team building, networking, or public relations. Stepping into the world of the freelancer can bring suprising challenges you weren’t prepared for. Thankfully, here at Arch Collective, we’ve all taken that first important step and dealt with the bumps in the road that come after. We’ve highlighted just a few of those bumps in the hope that new freelancers can avoid them completely!
Be Prepared to do Work Outside Your Wheelhouse
No, we don’t mean that you’ll end up switching from freelance accounting or website design to painting houses, but it surprises many freelancers how much work they have to do which wasn’t previously in their remit. As a freelancer, you need to become your own best salesperson. You also need to become an educator, advising potential clients on exactly what you do and the benefits it brings to them and their businesses. You also need to become a bookkeeper – not so much of a challenge if you are an accountant, but perhaps more daunting for copywriters, creatives, and other professionals that haven’t previously had to deal with financials. Get advice from those within the related industries that you need assistance with, and consider joining online groups that offer support to freelancers or simply give you a sounding board to bounce concerns off.
Freelancing is Inconsistent – Be Prepared to Budget
Working for an employer (usually) means regular paychecks of a predictable amount. Most freelancers can say goodbye to that. For many professionals this can be a good thing, especially when you’re thinking about boosting your hourly rate or doing large projects for big clients. Until you have a reliable client base, though, you need to plan for the weeks where you may only have smaller jobs – or no jobs at all. Put money aside when you have it to cover dryer periods, and ensure you put funds into building your business and brand.
You’re a Small Business Owner
That’s right: Whether you’re a full-time freelancer or simply helping a few clients on the side of another role, you are now part of a community of over 30 million small businesses in America. And you can make your business whatever you want! Think about your business vision, your business goals, and make sure you input those ideas into your messaging framework.
You Must Invest in Building Your Brand
That messaging framework is the basis for building your brand, which is the only way to stand out in a crowded and competitive market. Take copywriting, for example. There are over 4500 freelance copywriters in the United States right now, and they’re already in competition with in-house copywriters and content creation companies, as well as each other. A skilled copywriter has a portfolio of work that shows off their talents, but without brand recognition, they may never even get the opportunity to engage with potential new clients. That’s the same for all freelance professionals, regardless of industry.
Utilize marketing experts to help cut through the noise, advise on branding, and suggest strategies to help you grow and move ahead. Arch Collective offers an on-demand marketing team that primarily aids startups with the long list of marketing tasks that only gets longer as your business expands. Consider subcontracting tasks outside your wheelhouse – freelance financial professionals won’t necessarily have the skills to create a compelling blog or website, or know how to maximize creative content to appear high in Google’s search rankings, for example.
Final Word
Just because you are your own boss doesn’t mean you have to go it alone. Partner with industry specialists who can help you navigate the pitfalls of freelancing and turn challenges into exciting opportunities. Book a 15-minute introductory call Arch Collective and talk to experienced freelancers about the next vital steps on your freelancing path.
Do you want to build a brand with impact to take your freelancing career to the next level? Take our new Brand Messaging 101 course and find out exactly how to gain and retain the clients you want to work with.
