More and more people each year decide to escape the rat race and start working for themselves instead. And becoming a freelancer is a great way to earn money from your skills and passions, but it’s not for everyone. Before taking the plunge, here are five serious questions that you need to ask yourself.
Do I have the skills?
The first question to ask yourself when you’re considering going freelance is whether or not you have the right skills. It’s one thing to be passionate and enjoy what you do, but you need to be good enough so that people actually want to pay you. Whether you’re an artist, writer, designer, photographer- you need to be skilled and experienced to be able to go it alone and make a career of it. Often, freelance work comes later down the line, when you’ve gained the education and experience of working a certain job. If you’re planning on monetising a hobby you have, ask for some objective advice to see if your skills are really up to scratch.
Do I have somewhere to work from?
Working from home doesn’t mean relaxing on the sofa or in bed all day with your laptop. Not only is this bad for your back, but is also bad for productivity. If you don’t have a spare bedroom to turn into an office, is there space for a desk you can set up?
Can I manage financial fluctuations?
One of the trickiest things when it comes to working as a freelancer is the fluctuations in work. Some months you might have a fantastic time and earn loads, and others it will be quieter. Unless you have long term clients who are regularly providing you with work then this is something to bear in mind before you quit your day job. Make sure you’re able to manage your bills and expensive during leaner times. It can help to have multiple income streams, for example you could write and monetise a blog along with your freelance clients and also sign up to freelancing websites too where there are always jobs to bid on.
Am I prepared to deal with the business side of things?
Freelance work isn’t just about the work you do day to day. You’re essentially running your own business, so need to be able to deal with the business side of things. This involves making sure your taxes are correct, you don’t have to do them yourself (you can hire an accountant) but it’s still something you’ll need to keep tabs on and file your financial information correctly. You’ll need to find out the best technology to use, and online services like alexssa.com to get the most from your freelance journey.
Am I really self motivated enough?
Finally, and most importantly, you need to ask yourself whether you’re really motivated enough. Working from home seems like a breeze, but with no boss breathing down your neck it’s all down to you to get things done. We all like to think we’re motivated and hardworking people but think about it- would you be able to get through your tasks and earn what you need without someone telling you what to do?