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Advice For Starting A Freelance Career

Many people are moving away from traditional 9-5 jobs to freelance roles in recent times. It is easy to see why, as starting your own freelance business can put you in control of your career, give you the freedom to set your own schedule (ideal for dads), give you unlimited earnings potential, and enjoy the satisfaction of being your own boss. There are certainly many benefits to freelance work, but there are also a number of challenges and areas that need to be considered. With this in mind, this post will offer a few tips for setting up a freelance business.

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Start From Stability

First, you should always start from a position of stability. You should never start a freelance business because you need the money, as it might take some time to reach a position where you can make a stable, reliable income. This is why many people start their freelance business as a side hustle until it stabilises before making it their main full-time role. It is also smart to have an emergency fund you can use for living expenses if the business struggles initially.

Make Sure There Is Demand

Leading on from this, you should always make sure there is a demand for the product/service you want to provide before making the leap. Much like starting any kind of business, you should always conduct market research first to assess the market and establish who your competitors are and who your target audience is. You can then create a business plan, which will guide you during the early stages of your freelance career.

Grow Your Network

The key to success in any kind of freelance role is a large professional network. A large professional network will help you find new opportunities and develop a positive reputation. This is why you should use platforms like LinkedIn to expand and manage your professional network – be sure to post regular updates and engage with other people’s posts. Crucially, make sure you are networking in person as well – this is how you make a lasting impact and create a strong bond. Keep a lookout for industry and networking events in your area as a way to grow your network.

Hire Studio Space

You may also want to consider hiring studio space in Bristol. It will depend on the type of freelance business you are starting, but keep in mind that working from home every day can take its toll, especially if you do not have a suitable space for your operation. Hiring studio space will give you a dedicated workspace, which will help you perform at a high level each day. In addition to this, hiring studio space can be helpful in terms of creating separation between work and home and giving you the feeling of going out to work each day – this can be key for preventing cabin fever. Hiring a studio could also help you meet fellow freelancers and creatives to grow your network and possibly find new opportunities.

Develop A Healthy Work-Life Balance

You must also prioritise developing a healthy work-life balance as a freelancer. One of the perks of freelance work is that you can set your own work schedule, but many find that they actually end up working more. This is because it can be hard to turn work down as a freelance as you want to maintain strong client relationships and take work while it is available, as workload can fluctuate. This is why you need to develop boundaries, establish working hours, and learn how to say no.

Manage Your Finances Carefully

Another challenge of freelance work is that you will need to manage both your professional and personal finances. You need to keep your professional and personal finances separate and maintain accurate and up-to-date books – you could use accounting software for this or hire an accountant. You must also make sure that you are setting money aside for tax each month.

Take Advantage Of The Perks

Finally, you need to take advantage of the perks of freelance work. There is no point in making the switch if you cannot make the most out of the freedom and flexibility it can provide, so be sure to spend more time with your kids, take time off when you feel like it, and make the most out of the freelance lifestyle.

There are many benefits to starting a freelance career, but you need to be prepared for the challenges that are involved. The advice in this post should help and hopefully allow you to hit the ground running.