Freelancing is by definition an insecure profession, and many people hesitate to enter such a competitive environment for fear that they won’t match up. Others try and find they struggle to make it.
Surprisingly, it’s not just the obvious reasons that kill budding freelance careers, like poor work quality or a tendency to miss deadlines. Below, we’ll look at the top seven reasons freelance careers fail to take off, and how you can avoid these traps. let’s go!
1. Failing to Organize
When working for an employer, you already have a structure in place – often a very rigid one, which you fit into without thinking. The whole framework of your work is there.
This support suddenly disappears when you go freelance, and it’s easy to fall into a disorganized mess that makes it impossible to function well or effectively.
To organize, see Apps. Invoicing software like FreshBooks streamlines a big freelance headache, and there are some great time management tools like Teux Deux. Rescue Time very usefully lets you analyze how you spend your time on the computer, and block annoying websites.
If you’re really bad at time management, Focus Booster is an online timer that uses the Pomodoro technique to set 25-minute work periods, then to help you divide up the day. There is a five minute rest period. If you need to keep track of how much time you’ve spent on a task, Toggl can be very helpful.
2. Giving in to Stress
There are apps out there that can provide a basic service along any line you can think of, including yours, and there will always be cheaper products or services. Additionally, competition can be fierce – especially if you haven’t thought carefully about your niche. However, you cannot allow yourself to be controlled by fear.
To succeed as a freelancer, you’ll need to be persistent – tap into your passion for what you do, transcend fear. You will need to research your market, accurately identify your target clients, and find your motivation.
Be honest with yourself about your strengths and weaknesses. If you really feel like you can’t make up your own mind, try asking a previous employer or client you’re on good terms with for a genuine recommendation that you can use, and learn from, yourself.
3. Failing to Stand Out
Freelancing is very different from working for a company. You have to be able to sell yourself and build your brand. If you don’t stand out from the crowd, your voice (and business) can easily be drowned out.
Start by creating a ‘life list’ of achievements that you can highlight in the pitch. On top of academic qualifications, you need to think more broadly about what you’ve done with your life. You can demonstrate your organizational skills, for example, by holding positions of responsibility in clubs or other groups.
Having a niche helps – while it means some generic posts might pass you by, pitching numbers for these projects means they’ll be hard to win anyway. Specialization gives you an edge for projects that suit your profile.
You can also use Bidsketch (naturally!), which provides a very effective tool for impressing clients with your persuasive proposals, including customizable client landing pages, awesome templates, and electronic signatures. To facilitate rapid turnaround.
4. Failing to Set the Right Rate or Time Scale
Every successful freelancer has a minimum rate they can work for, and the ability to estimate project hours with reasonable accuracy. Both are important – if you get the rate or timescale wrong, you can lose a huge amount of money.
A basic equation for working out your hourly rate is to factor in all of your work-related expenses (including essentials like supplies, electricity, mortgage, etc.) and the days and hours you plan to work on average. are (vacation days, plus a small sickness allowance) plus retirement funds, and the profits you want to earn.
Next, you need to estimate how long a project will take if you’re working on a lump sum rather than an hourly rate (there’s a big argument about which is better, if you read this previous post see).
Apps like Motiv automate the process – you fill in all the boxes and it calculates your hourly rate and annual salary. Completed!
Remember that different clients may require different prices – for example, commercial clients may be charged more than non-profits. As your experience increases, so should your rate.
5. Failing to Think Through Expenses
Costs are a classic problem. Many freelancers forget about some of their expenses when starting out, and this can make the difference between success and failure.
Apps like Expensify can be very helpful – it lets you take photos of receipts on your phone and turn them into a neat report, and it’s free for individuals to use. At large, Dinero’s online platform allows you to track spending, and pull information from bank and credit card accounts, to provide a snapshot of your finances or forecast future spending. can be done
Free online invoicing and billing service Hiveage can automatically accept payments and issue bills, and payments giant PayPal now offers a self-billing service. Finally, when you’re sealing the deal, Shack has a library of business contract templates designed for freelancers that you can use to create legal documents.