Making the Transition From In-House to Freelance Work
Ready to kickstart your freelance career? Leaving an in-house role and going self-employed is a bold and often daunting decision. Even if you’ve already weighed up the pros and cons, there are so many reasons why this could be the best long-term decision for you.
To make sure you land on two feet and hit the ground running, it’s best to do your research before going self-employed. We’ve outlined some top tips for new freelancers.
Make sure you’re ready
It’s vital to evaluate both your personal and professional readiness for freelancing. Being your own boss is very different from working within a managed team, with contrasting demands and commitments.
You’ll need to be financially stable before you get started. This is because freelance income is never guaranteed and may be seasonal depending on your niche. You need to be very good at managing your own time and have a strong ability to self-motivate.
Build a client base
You create your own business opportunities as a freelancer, so you’ll need to master the art of building a client base. You can test out several techniques in the process, including:
- Networking: Attending workshops, conferences and industry-specific meetups will connect you to potential clients and competitors.
- Social media: By regularly posting engaging content on social media, you can build your brand and connect with your audience.
- Portfolio: If your work is digital, building a website with an online portfolio will help to convince future clients to choose you.
It’s very much worth setting up a Google profile for your business or a website with a dedicated reviews section, as these can be a huge factor in convincing people to make use of your services. Asking – or incentivising – your first few clients to leave a review could boost your growth.
Manage your finances
You’ll be in charge of your money when you go self-employed. That includes filling out and submitting the annual Self Assessment tax return form.
There are some key financial and legal obligations to consider. Choose a rate that represents the real value of your work and time, and never work for free. Charge per project and try to under-promise, then over-deliver. Keeping clients happy means exceeding expectations, but not at your expense.
Keeping yourself covered is also a prudent step in preparing for your freelance career. If you’re a finance professional, for example, you might find specialist accountants’ insurance valuable in protecting your expertise. Make sure to choose policies tailored to your niche.
Keep a work-life balance
Since you won’t be following conventional hours or a specific shift pattern, you’ll be in charge of your own hours too. Many freelance workers find this both a blessing and a curse.
Maintaining a healthy work-life balance is perhaps the biggest challenge involved. The simplest way to get around it is by scheduling fixed working hours in the day. If that’s not possible, you’ll need to set boundaries and manage your workload to avoid burning out.
Engage with your new community
Finally, even though you’ll be working alone, don’t forget that you’re now part of a huge community of self-employed workers in your industry.
Through everyday tasks and networking, you can meet and chat with like-minded professionals. This could lead to all sorts of opportunities for shared projects, promotional material or even new business.
No matter your niche, it could be worth taking the leap to self-employed work if you’re ready for the challenge.