EARNING A LIVING ONLINE: DIVING INTO THE WORLD OF FREELANCING
If you want to earn a living online, whether it be to work remotely from home, to travel as you work, or just to have more freedom in life, going freelance could be the way to go. I went freelance many years ago when I decided to quit my 9 to 5 office job in London, and it was the best thing I ever did. Being freelance has enabled me to get experience working for clients all over the world, and to travel as I do so, and thus helped me achieve a better work - life balance.
WHAT IS A freelancer?
A freelancer is a person who offers their services to clients on a project basis, typically without a long-term commitment to any one employer. They tend to be self employed, work independently, can negotiate their own rates, choose which clients they work with, and work with a number of different clients at one time. And they often have the flexibility to work from anywhere.
Freelancers are responsible for paying their own taxes, pension and other personal contributions, and like other self employed people, freelancers are not entitled to sick pay, holiday pay, and other benefits associated with being employed by a company. There are definitely pros and cons of being freelance. I dive deeper into this in this article if you want to check it out.
There are many different sectors that freelancers work in, including the following: Writing, Content Creation, Marketing and Advertising, Graphic design, Website development, Photography and Videography, Assistant [being a VA is a big one at the moment], Private tutoring, Event planning and coordination, and like me, Consulting in Social Media Marketing. There are of course more examples, but these are the most common. If you think you fit into one of these niches, why not become a freelancer today - you can start as a side hustle to boost your employed income with the aim to eventually quit that 9-5 job!
what do you need to do to become a freelancer?
Identify your skills and strengths, and decide what kind of freelancer you want to be.
Register as Self Employed. It will of course depend on the country you reside or pay your taxes in, but for people in the UK you will need to register as self employed with HMRC.
Set your Freelance Rates - research industry standards and consider your experience, expertise, and the value you bring to clients when setting your rates.
Create a Website - this will act as your portfolio, and allows potential clients to find out more about who you are, what services you are offering, and any case studies from previous work.
Set up a personal brand - utilise social media platforms to show clients who you are!
Find your first client! You can do this via freelancing websites, pitching via email, using social media sites like LinkedIn. Finding work is up to you - there is no guaranteed income coming in every month like when you are employed, so you need to network and sell yourself.
Set up your processes, including a Freelance Contract. A contract helps protect your interests and ensures both parties are on the same page regarding deliverables, deadlines, payment terms, and project scope. Buy my Freelance Contract Template here!
Don’t forget that as a self employed worker you must keep track of all your finances, including your income and expenses, and don’t forget to set aside your tax each time you get paid - you do not want a hefty tax bill in January to pay without the savings!
Being a freelancer isn’t easy, but it is incredibly rewarding. You have more flexibility and freedom, and you get paid for your time [so no more unpaid late hours in the office!]. I believe that this is how it should be - your time is valuable, so why shouldn’t you get paid for it?
If you have any questions about becoming a freelancer please drop them below and I will do my best to answer them.