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Freelancing – Steady income during uncertain times
This article was previously published in DAIJIWORLD WEEKLY
Many employees around the world have hit ‘restart’ on their careers as the Pandemic hit the job market on its head.
Not too long ago, a full-time job was typically seen as a ‘safe bet’ when it comes to generating a steady income. However, with the pandemic putting millions out of work, many are starting to rethink how to best earn a steady income. And, contrary to popular belief, freelancing might just be the solution.
Think about it. Are you tired of waking up every day, wondering what would happen to your career? Would you get a decent job? Or are you afraid of that termination letter that might be headed your way?
Do you also have a set of skills that are unique and could be used to make money on your own?
If you can answer yes to those questions, then congratulations, you are ready to step into the world of freelancing.
To help guide you along, here is a brief outline to freelancing.
What exactly is freelancing?
Freelancing is a contract-based profession where you use your skills, education, and experience to work with multiple clients and take on various assignments without committing to a single employer. Freelancing usually involves jobs (called gigs) that allow you to work-from-home.
Bear in mind, that freelancing is ‘NOT’ the same as having a part-time job.
In a part-time job, you work for an employer, while in freelancing, you are providing your services for a set fee.
How to get started with Freelancing?
You now have a clear idea of what freelancing is, and you are ready to dip your toes into the freelancing waters. Great!
To get started, you need to first find your niche.
A niche is a specific skill or industry that you are either interested in, or have knowledge and experience.
It could be a little intimidating at first, and you might feel that you can do everything, but trust me, it’s better to stick to one, or two areas of expertise.
No company wants to hire someone who knows everything, because, no one does.
Think of it this way, if you had to hire a medical writer to write a medical blog, would you hire someone who writes about medicine, lifestyle, food, dining, and so on?
No, because you want to hire the best and that is what every hiring manager looks for in a freelancer.
If you are not sure of what your niche is, then try this exercise. Take a pen and paper, and write down everything you are passionate about.
From this list, circle out the things that you feel you know, or the ones you are interested in learning.
Keep shortening the list until you are left with two options. These are your prospective niches. From here, pick the one you feel is THE ONE!
For instance, if your list includes food, travel, shopping, sightseeing etc… then you can narrow it down to the following niches: Travel writing, food blogger, restaurant reviewer, and so on.
Freelancing is more than just writing:
Many associate freelancing with writing, and are quick to assume that if a person is a freelancer, then he/she is a writer. But freelancing does not, and is not only about writing.
There are a number of different freelancers who specialize in different fields. For instance, there are graphic designers, website developers, digital marketers, social media experts, and many more.
If you have a talent for something, and there is a market for it, then you can definitely become a freelancer in that niche.
The three types of freelancers:
- Freelancing as a hobby: These freelancers are not behind earning a lot of money, or starting a business. They freelance because it makes them happy. An example would be a music teacher who teaches kids because he loves to, and at the same time, makes a small income out of it.
- Freelancing as a side-hustle: This is the most common type of freelancing. These freelancers have a full-time job, and at the same time, freelance during their non-working hours.
They seek job security and a monthly pay check, while maintaining a steady flow of freelance income.
- Freelancing as a full-time business: Very few freelancers opt for this because becoming a full-time freelancer means you are responsible for your own business. There are no guarantees on how it will end up, and you do not have the security of a steady pay check. For those freelancers who manage to push past everything, full-time freelancing has generated more income than their previous 9-5 jobs.
Where to find freelance work?
As a beginner, you may want to try and build your portfolio (your best work). You can always ask friends and family for work. It might be for free, but in order to build a portfolio, a few free gigs will do you more good than harm.
Once you have a portfolio of at least three to five samples in your niche, you can start pitching to clients/companies.
Remember, do not price your work too high in the beginning. Find similar freelancers online and see what rates they are charging their clients.
There are a few sites such as Upwork and Freelancer that provide gigs. But it is not the best option as competition is high, and pay is low.
Try social media sites like LinkedIn and Twitter. LinkedIn has a job board with a huge list of freelance jobs.
Finally, check out where your prospective clients hang out the most and then pitch to them.
The rules of freelancing:
Whether you are freelancing as a side-hustle or have turned it into a full-time job, you need rules.
Be aware, this is not an easy road to take. Freelancing does not mean waking up whenever you want, working whenever you like, or simply skipping a few days all together.
Although freelancing is not a steady 9-5 job, you need to have specific hours of work.
If you decide to work from 10 am to 5 pm, from Monday to Friday, then you have to show up at the same time.
Determination and passion are the two key factors of freelancing success.
Other important things include are having your own home office, if not, then at least a desk, laptop, and high-speed internet connection.
Additionally, you will also need an accounting system to keep track of your income and expenses (keep in mind that as it is your business, you are the one who is accountable).
Do not fall for the ‘Get rich quick’ scheme:
You may have seen on several instances on social media: Try this and you will earn ‘xxx’ amount in 30 days.
The message may not be the same, but you get the point. Do not fall for such scams. There is no such thing as ‘Overnight Success’.
The hard truth is that freelancing takes time, and your income will steadily grow over time, that is if you give it the time and dedication.
Do not compare your current success to someone who has been doing this for years. Compare your present success with your past and you will automatically see the difference.
A few additional pointers to help you get started:
- Do not stress over running a freelance business. Start small and decide if you like it.
- FIND YOUR NICHE. If you are unsure, get started, and if you realize you like something else, you can skip. Do not force yourself to work in a niche just because there is more money involved.
- If you have a day job, then do not carry your freelance work to your office. It is unethical.
- If you are requested to sign a contract before starting with a freelance client, then read it carefully and make sure you agree with all the terms. There are many freelancers who have not read the fine print and have regretted later.
- Find out where your freelance community hangs out and connect with them. Find out what the market rate is for your service and charge accordingly. Sometimes hiring managers get freelancers to work for cheap because the freelancer is unaware of the exact value of the service.
- Keep a selected few free change in the final work and then charge for every new change. For instance, if you are a graphic designer, then once you submit your design for approval, give your client three chances to request changes and then charge a small fee after that. Sometimes, clients keep requesting changes, and this could lead to overwork and burn out.
- If you want to be a full-time freelancer, then plan well in advance. Do not jump in without a backup plan.
Finally, if you are considering freelancing do not just go online and read hundreds of how-to articles. Find out companies/sites in your niche, prepare a strong email pitch, and send it to them.
You may not hear back from all, but you will definitely find clients this way.
