Maybe you’ve had a tough time adjusting to your new full-time role, or you are sick of not being able to have enough PTO to join your friends on vacation, or you just really like the benefits of freelancing and are interested in making the switch. Both full-time and freelance roles have their pros and cons, but do you know which is best for you?
It isn’t for everyone
The first thing to know about freelancing is that it is not for everyone, and while you may be jealous of your friend who works from a coffee shop near the beach, or who can take as many vacations as they desire because PTO is not an issue, or who makes significantly more money an hour, the grass is not always greener. Before making the switch to freelance work, it is important to fully understand the steps needed to succeed as a freelancer. These steps include setting up a website, developing a client base, lining up projects, and making sure your finances are in order. Developing an organization strategy, investing in tools and developing your schedule are also key.
What’s your “why”
In addition to being able to choose your own clients, work from home, and charge more, there should be an underlying reason as to why moving to freelance is the right choice for you. Are you an expert in your field and know that you’re doing yourself a disservice by working for just one brand? Are you building out your portfolio? Are you curious about what it’s like to work with several industries before you settle on one full-time? There may be multiple reasons and your reason might even change month-to-month but thinking freelancing will be a solution to your current work griefs is not reason enough to jump ship.
Have a backup plan or at least a plan
Don’t quit just yet. One of the biggest mistakes from going full-time to freelance is the belief that business will just show up. Getting both business and clients in the start can be hard work and a difficult task, but if you already have your website, a business bank account, and a list of potential clients lined up, the transition will not only be easier, but it will be exciting rather than overwhelming. If your client list seems a bit low, be sure you have enough money saved up to cover bills, as the last thing you want on top of the existing stress of going freelance is money stress.
Know your worth
Remember when we asked if you were jealous of your friend who makes more money an hour? That is because as a freelancer, you set your worth from the beginning, and as more projects are added to your plate, the more you can tack on to the client’s bill. Don’t just pick a number that you like though. Research rates of other freelancers with similar experience and look at salary rates for similar full-time roles and find a number that you feel confident in asking and secure knowing that you are worth it. Be sure to take into consideration that you are also now responsible for things like health insurance, applications, websites, and any technology needed to perform your job.
Expand your horizons
Now that you aren’t required to work from the same desk every day, expand your freelance skills to other cities, states, and maybe even countries! As a freelancer, you are able to pick and choose the clients you want to work with, and while some may want to meet you in person and even have you work in the office a few days a week, not all require in-person meetings and are fully manageable over video or phone calls.
Are you ready to take on freelance with confidence or do you need a little more time to get your things in order? Either way, we are here to help! Browse both our open freelance and full-time positions and be sure to sign up for our 24 Seven Academy for more freelance tips and insights.