How to Successfully Run a Freelance Business: 7 Key Factors
Working for yourself, doing what you love, and making good money might sound like a distant dream for some and quite a possible reality for others. If you are one of those people who wants to quit a tedious nine-to-five job and instead earn a living using a skill that you have, then this article is for you.
In the beginning, freelancing can be a source of additional income along with your full-time job, and later, you can transfer to fully working for yourself. Such a strategy would allow you to have a guarantee of some money, even if your small entrepreneurship would not turn out to be beneficial.
Many people give up their dream of being freelancers due to the fear of failure or inability to perform all the responsibilities that working for yourself includes. It is necessary to smartly organize your working process, promote your products and services, keep up with all the legal stuff, and many other things.
Luckily, there are many helpful services that can assist you in the freelancing journey. For example, all the templates for legal forms that you might need can be found online, which is very convenient and saves a lot of your precious time.
Before starting a freelance business, you need to plan everything thoroughly and take into consideration many nuances. We are here to help you with this guide on having a successful freelancing experience, being confident in your work, and having a reliable income.
Characteristics of a Good Freelancer
Every person is different, and everyone has a unique viewpoint on how a successful freelancer should look and their traits. Some consider only highly-organized and disciplined people as potential candidates, while others think it is work that requires completely creative and spontaneous decisions. Such opinions differ among the freelancing positions of different types as well.
However, there are some common characteristics that every freelancer should have or try to develop over time:
- Self-control and discipline
- Good scheduling skills and self-motivation
- Competence and respectability
- Creativity and ability to initiate the implementation of new ideas
- Trustworthiness
- Ability to quickly change plans or even directions of the working process
- Patience
- Interest in new ideas and self-development.
You might not be excellent at everything from this list at first, but willingness and dedication are what matter the most. If you are ready to work on yourself for the sake of your success, then your freelance business will be thriving.
What to Do if You Want to Start Freelancing
Have you decided that you are ready to start a freelance business but still not sure what to do next? Do not worry; there are some general ideas on how an ideal working process for yourself should look like, and we are ready to share them.
1. Formulate Your Goals
First of all, you need to fully understand why you are doing this and the point of you being a freelancer. This point is specifically important for you because after answering essential questions about your goals and motivation, you will feel confident in what you are doing.
There will be no feeling of uselessness if such an analysis is done before your freelance journey. Stating what you want to do, why, and how would allow you to avoid the fear of the unknown.
2. Choose a Well-Paying Sphere
There are a lot of freelancers out there, who are ready to do the same job you are offering for a lower price, and there is no use in competing with them, as it would not be profitable at all. Instead, try focusing on the quality of a product or a service you offer. The better you do it, the more customers are ready to pay big money for a well-done job you would attract.
It is also great to choose a particular direction in the sphere and offer your best work there. For example, if you are a photographer, instead of shooting studio portraits, outdoor events, animals, nature, and many other things at the same time, try focusing on one of those things. It would allow you to improve over time and eventually become one of the best.
3. Find Your Clientele
At the very start of your freelancing, it might be hard to determine the specific people who would be interested in you. But after some time, you might get an idea of what kind of clients you attract and which of them you would prefer to work with further. Initially, it is better to narrow down the client base so that after gaining some respectability and stating your name on the market, you would be ready to step up.
By narrowing down your target customers initially, you would be able to complete their orders perfectly and on time. This would result in many satisfied reviews and trustworthiness, which would attract even more clients in the future.
4. Determine the Prices for Your Offerings
One of the hardest decisions for many freelancers-beginners is stating the prices for their products and services. While some assume they do not deserve to get paid much initially and set the bar too low, others try to become millionaires from the first order and set unrealistic rates. Both strategies are bad for being a successful freelancer.
It is good to study the market and see what range of prices is used by other businesses. However, do not stick to a certain amount of money only because others state it as optimal. Determine the price of your work according to its quality only. Do not lower the price you ask just because some clients cannot afford it: you will surely find someone who is ready to pay the amount of money your work deserves.
5. Have an Impressive Portfolio on Your Website
Your portfolio is what shows the potential clients your competence and achievements. You should list all the skills you have that are connected with the type of work you do, including various examples of work, reviews, and recommendations from others.
Do not forget to make the website look presentable and pleasant to scroll through. Visual appearance is an important factor that might scare some potential customers if not done properly.
6. Work on the Network of Clients
It is not always easy to find good customers for your work. That is why it is important to develop as many links and connections as possible. If you see a company that might be interested in your services, don’t be scared to reach out to them. There is a big chance they would want to do business with you, or at least they would remember your name for later.
Establishing social media presence is also important. Find communities that can be your potential customers and advertise your product or service among them. Check what the trends are on different platforms. Maybe some of them can be beneficial to you as well.
You can even attend business events that might have your audience as participants. Finding a customer and offering them your job in person might be very influential for your business.
7. Do not Give Up
Sometimes, freelancing might seem like a rollercoaster with its ups and downs. It is important to stay patient and analyze every step you have made that might have caused one or another outcome. Is the business doing great? Remember what you have already done to use the same techniques later. Suddenly, every next move seems like a failure? Step back and see what you might have done wrongly.
Your freelance business is not always going to be perfectly fine. If you want to become a successful freelancer, you have to learn how to overcome any obstacle and improve your work even more. Be confident and love what you are doing, and then your journey will indeed be successful!
References Used
https://edu.gcfglobal.org/en/freelancing-101/finding-customers/1/
