What You Need to Know | Freelance Fundamentals

Working with an eclectic mix of co-workers has always elicited a whirlwind of emotions. Thinking back there are those especially fond memories held near and dear to my heart of treasured moments of comraderie arising from our common workplace relationship. Now, other people that I have shared professional space with are not entitled to shadow any parts of my positive energy. I'm good with them being long gone from my life. Moving forward, life has directed me onto an entrepreneurial career path, which I never imagined for myself, and honestly, started working on before developing a clearly defined path. When I say that mistakes were made, I'm not completely wrong. Making mistakes is is an inevitable part of life, a normal part of our essential learning process of trial-and-error. Take note on what you need to know about freelance fundamentals.

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What You Need to Know | Freelance Fundamentals

Sell Yourself

Prior to taking the first step into being an entrepreneur, let it be known that you will be venturing out to establish your business. Reach out to your current relationships to secure connections, expanding your potential customer base. Ask friends and family to spread the word by creating a buzz around a soft launch or similar promotional event to introduce your freelancing services. Let it be known that you've done your business research and are moving forward.

Protect Your Assets

Lawyer up! Business is business, and with the potential for loss, you'll be better off prepared to avoid later frustration. Seek the services of a knowledgeable attorney to legally protect your finances and intellectual property. Bank away approximately six months worth of operating expenses before finalizing your exit strategy. Consider as an entrepreneur including in your savings account the added expenses of your taxes, insurance, business registration, permits, and licensing, and other freelancing business expenses.

Know Your Worth

As newer entrepreneurs, the tendency to lowball your pricing for your services may cause customers to undervalue your professionalism. Competitively research the current market pricing for your services and confidently stand firm in determining your value to establish your freelance business. Take into account the fact that start-up ventures will need to gain exposure before bringing in profits. Proceed accordingly as you may gain more in experiences than finances initially. Keep business expenses minimal, saving more cash during profitable, high income months to balance out lower performance months.

Make Connections

Weave yourself into the inner circles of like-minded business professionals and advisors to increase your circle of influence and knowledge base. Entrepreneur life can easily become a lonely "solopreneurship" without beneficial social interactions from colleagues with varied perspectives. Encourage one another to achieve goals, maintain structure, and increase productivity. Build a business network of freelancers eager to offer support as needed and enjoy successes together.