These days, many people work on a freelance basis. This could be in a full-time role or simply as a way to make some extra cash on the side. There are all kinds of ways to make money as a freelancer, and it can provide a level of freedom and control that is hard to match with standard employment.
There are certainly benefits to freelance work, but anyone who has worked in this way for a few years will tell you that it is not without its challenges and drawbacks.
There are a few best practices that every freelancer should be aware of that will help them succeed and overcome any challenges. Keep reading to find out more.
Have An Emergency Fund
First, it is important to have an emergency fund. Freelance work means that your income will fluctuate each month, and there may be quiet periods that you will need to manage.
You can stay afloat and enjoy peace of mind by having enough savings to cover you during these quieter periods. You must also prepare mentally for these quiet periods and know how to stay positive, whether this involves taking some time off, trying to find new clients, or upskilling.
Also Read: How to Make Money as an Aspiring Graphic Designer?
Keep Your Finances Separate
Following on from this, you must always keep your business and personal finances separate. This is so that they are easier to manage, particularly when it comes to completing your tax return. In addition to this, separating your finances will prevent you from using one for the other – this is always a bad idea that can come back to haunt you.
Prioritize A Healthy Work-Life Balance
One of the perks of freelance work is that you can pick your own schedule and be your own boss. However, many freelancers struggle to achieve a healthy work-life balance because it is hard to turn work down.
You are not earning when you are not working, so there is a temptation to work as much as you can (especially if you have had quiet periods). This can quickly lead to burnout, so it is vital that you have a healthy work-life balance and know how and when to say no to new projects.
Build A Strong Portfolio
To succeed as any kind of freelance professional, it is vital that you have a strong portfolio. This is how you demonstrate your skills, abilities, and experience to potential clients.
A strong portfolio will make it much easier to find new projects to work on, so you need to include details on the projects you are most proud of. This should also include testimonials from happy clients to add social proof.
Use Fiber Internet
As a freelance worker, it is likely that you will be working from home regularly. Additionally, your role may require a lot of video calls to communicate with clients. Therefore, it is vital that you have fast, strong, and stable internet.
You do not want your internet to hold you back by negatively impacting your productivity, so it is worth upgrading to fiber internet (particularly if you live in a large household). With speeds of up to 5 gigabits per second and no usage limits, you can work to your potential each day.
Frontier fiber internet in Dallas is available in many different plans, so you should be able to find one that suits your needs. It is also helpful if you can find a provider that will be able to give IT support should you need it. Your skills may not be IT based, and having that reassurance is useful.
Grow Your Network
Freelancers should always be looking to grow their professional network. Even if you have enough work right now, you never know what the future holds, so it is useful to build connections that could lead to new opportunities in the future.
Additionally, growing your network can help you to increase awareness and build a positive reputation. To create strong connections, you should be networking in person at relevant events. You can then maintain these relationships over time with platforms like LinkedIn and Facebook.
Also Read: 7 Ways to Make Money From Home
Maintain Close Communication With Clients
Finally, it is vital that you maintain close communication with clients. The key to a mutually beneficial arrangement is close communication and understanding one another. Therefore, you should arrange regular check-ins, ask for feedback, and be forthcoming with communication.
At the end of a project, do not hesitate to ask for a testimonial that you can use or for a referral to anyone they know who would benefit from your services.
These are best practices that all freelancers can benefit from following. Freelance work is growing in popularity, and it is easy to see why, as there are many benefits with the ability to become your own boss.
There are also lots of drawbacks and challenges, though, so it is vital that you know how to manage these and make the most out of this way of working.
