Looking Out For Number One: Putting Your All Into Your Freelance Business

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Over the last few years, freelancing has become more and more popular. In fact, freelancing offers ‘unparalleled opportunity for growth’, as well as being closer to closing the gender pay gap. But that was at the beginning of the year, before a global pandemic came crashing down on us all.

For many freelancers, the COVID-19 pandemic has been challenging to say the least. With many businesses having to cut back on their activities, freelancers have had to go through periods of uncertainty, and begin the process of building up their business again. It’s not been an easy time, but there are lessons to be learned for the future.

When it comes to being self-employed or freelance, you need to look out for number one. With that in mind, here are some of the things you can do to strengthen your freelance business to improve your future security.

Look back at what you’ve done so far

Whether you’re new to freelancing, or you’ve been doing this for a while, it’s important to look back at your performance – as you’d be expected to if you were working for someone else. Effective self-evaluation can help you see what your strengths have been, while also highlighting the area you need to work on to be able to strengthen your business. 

When you work for yourself, you’re accountable for your own performance. But you can be so busy with getting the work itself done, that you might not have time to take stock. Regular checkpoints throughout the year can make you think a bit more about your work as a business so that you can spend more time on making improvements.

Set future goals

Setting goals for yourself is what will keep you motivated, even when you’re feeling a bit frustrated or down about your work. What do you want to achieve with your career and with your business? What sort of milestones are you aiming for? By setting goals for yourself, you can think about what drives you to succeed and put plans in place for how you’ll get there. 

SMART goals can drive your work and help you take your business to new heights. After a difficult year, it will be beneficial to set goals that will help you come back fighting ready for your most successful year yet.

Get more organized

When you work for yourself, it’s important to be organized. And while you can set deadlines for yourself and get your day-to-day work done, you need to think about the business side of things too. Some simple tips to help you plan your day and work more effectively include:

• Set yourself working hours that you can stick to – this will help you maintain that all-important work/life balance. 
• Set aside time to deal with your business admin, including your finances, forward-planning and staying on top of your emails.
• Work to deadlines that are realistic, and communicate any potential issues and absences to your clients as early as you can.
• There are work scheduling apps available that can help you plot out and manage your time, while also allowing you to create task lists, set reminders and more.
• Remember to take breaks during the day – it’s important for your health and wellbeing that you step away from work once in a while.

Work on securing some long-term clients

One of the things many freelancers feel is missing from their work is security. Unless you’ve secured a lot of long-term contracts, you never know when work could start to dry up. While it’s good to have the freedom to work with multiple clients on different projects, having some long-term clients could be in your interest to help you plan ahead.

While nothing is ever certain with freelance contracts, by having work agreements in writing, you could find yourself with much more security should different factors have an impact on your industry.

Improve your invoicing process

Invoicing is another struggle for freelancers. Having to spend time chasing clients for payments can be difficult and time-consuming, and can also leave you short of money when you need it most. By improving your invoicing process, you stand a better chance of getting paid by clients on time and in a way that’s convenient for you. Choose a system that lets you accept payments online so that you can manage your payments easier. You’ll benefit from secure payments while also having systems in place for dealing with overdue payments. 

If finances aren’t among your strengths, this could be a simple way of taking one task off your hands.

Network with other freelancers

Working for yourself often means working alone, which can be difficult when you’re faced with periods of difficulty or you need advice. It’s easy to miss the companionship that working in an office brings, but there are ways you can get the support you need.

Networking with other freelancers is a good place to start. There are different ways to network as a freelancer, but one method that could be useful to you (especially right now), is online networks. Online networks, including Facebook groups, can help you find freelancers with common interests and who work in the same industry. Through this network, you can seek advice, share ideas and build relationships with people experiencing the same challenges. They can also be valuable for information sharing, helping you find work and being aware of the support that’s out there for you if things get tough.

Conduct some face-to-face meetings

The reality of working as a freelancer is that you spend a lot of time by yourself. There could be some weeks where you don’t even leave the house! It doesn’t hurt to conduct some face-to-face meetings with clients now and then to help you enjoy some social contact as well as make your business feel more authentic.

If you’re working with clients nearby, make an effort to get out there and meet with them. This will not only help you enjoy a more sociable element to your job, but could help make for more productive meetings too. 

Have a plan for the quiet times

As a freelancer, you can’t always guarantee that things will be busy. There could be times when work is on the quiet side, especially around holidays or if there are wider factors at bay. It helps to have a plan for these times so that your time doesn’t go to waste, and that you can get set to find new work. Some of the things you can do when it all goes quiet include updating your website, undertaking training and development, and of course, going on vacation! Quiet periods don’t have to signal doom, so factor them into your plans so that they’re not wholly unexpected.

It could also help to have a form of passive income that could help you continue to earn money, even when your freelance work is short. Monetizing a blog or selling eBooks and other online materials can help keep things ticking over for you when you need it.

Get your finances in order

Being able to manage your finances is crucial for a freelancer. You’ll need to be able to juggle cashflow and your accounts and make sure they stay separate from your personal finances. If this year has been difficult financially, make sure you put plans in place to help you through the next one. It can help to pay yourself a modest salary based on some of your average earnings, allowing yourself bonuses during those periods where your earnings have been higher. Good financial planning can help you navigate what can be an unpredictable year and help you feel more secure too. 

Make sure your website is up to date

Is your website updated regularly? As one of your biggest platforms for showcasing your services, your website needs to make a good impression. Spend time highlighting your latest projects and testimonials while also looking at ways you can strengthen your content – perhaps through a blog or an interactive portfolio? Your website can help you attract new clients, so it’s important that it’s updated regularly.

Promote yourself

If you want to find new clients and help boost your business, you need to be able to market yourself. Marketing your freelance business can be done in a number of ways, including through social media, local advertisements, and encouraging referrals from your existing clients. Having an ongoing promotion strategy will be beneficial to help you highlight your services, communicate different promotions and share your latest work. It can also be a way for you to connect with what’s happening in the industry, so make sure you set yourself up on platforms like LinkedIn and Twitter.

Running your own freelance business comes with its challenges, but with careful planning and dedication, you can help yourself succeed. After a difficult year, it’s good to regroup and make plans for the future so that you can achieve your ambitions and help your freelance business succeed.