Freelancer 101 – what to do, what not to do

by QuickBooks UK

4 min read

What does career freedom mean to you? For some it means living debt-free or owning a home. For others, it means having the ability to travel the globe or the opportunity to spend time volunteering for an important cause. Self-employment is an increasingly popular way for many to achieve their version career freedom, as it provides a more flexible lifestyle than a traditional nine-to-five job. Freelancing is a popular first step into self-employment.

Writers, photographers, web designers, app developers, and a long list of other professionals commonly work as freelancers. They find clients, negotiate an hourly, daily or per-project rate, and get started. Most freelancers need nothing more than a computer and an internet connection. They enjoy the flexibility of working without a traditional ‘boss’ during the hours they choose.

We have put together some practical tips to help you get started in the world of freelancing. As a freelancer, you will enjoy the flexibility and creative freedom that a nine-to-five job cannot always provide. However, you will also need to find clients, negotiate your fee, and manage your finances according to different tax rules, which are things you didn’t need to do as a full-time nine-to-fiver.

Finding Clients

Even though freelancers don’t have traditional ‘bosses,’ they still need to find and land clients. Freelancers must market themselves and their skills in order to land freelance gigs.

LinkedIn: Build a killer LinkedIn profile. It’s the best way to show off your digital resume. Don’t simply fill out the standard fields as this is your chance to shine! Read LinkedIn’s tips for https://www.linkedin.com/pulse/how-create-killer-linkedin-profile-get-you-noticed-bernard-marr that will get noticed.

 

Portfolios : A portfolio is a must-have for creative freelancers. If you work in copywriting, graphic design, videography, or any other creative art, you will need a portfolio that shows off your best work. Get started with products like https://www.myportfolio.com/and behance uk.

 

Personal Site: Building a personal website or creating social media profiles can help you display your true colours. Have fun and show off your skills and expertise. Create an Instagram account that shows off your professional photography or a YouTube channel that boasts your videography skills. No matter what your profession, there is a social media platform you can use to attract customers.

Get Connected : is a marketplace that connects freelancers with businesses and individuals across multiple industries. Try the Moonlighting iOS or Android app to get easily connected to people who are ready to hire. Get hired instantly right from your mobile device.

Local Recruiting Agencies: Recruiting agencies aren’t just looking for full-time workers. They are always searching for freelance and on-demand lworkforce to fill gaps. Do a search for a recruiting agency in your field, or ask your peers to recommend recruiting agencies.

Negotiating Your Fee

Once you find a potential client, you will need to negotiate your fee. First, ask your potential client about the scope of the work, the amount of time you have to complete the work, and the deliverables that may be required along the way. Be sure you understand exactly what the client wants from you and when. This information is crucial in setting your fee.

Once you understand exactly what is needed, then you can propose a rate or a project fee. Be sure to consider your overhead costs, such as travel, equipment, materials, software, or other items you may need to get started. Set a fee that you can live with for the next year or two, as ideally this client will become a repeat customer.

Propose your hourly rate or fee in writing and be open to negotiation. When you have agreed on the details, put everything into a contract and make sure the client signs it. Include a description of the project, the due dates of each deliverable, the payment terms you’ve agreed upon, and anything else you believe is important.

Managing Your Newly-Earned Finances

As a freelancer, you are considered a self-employed individual in the eyes of the government, which means you will need to separate your business (freelancing) finances from your personal finances for tax purposes. As a freelancer, you must track your income, monitor your expenses, keep up with invoicing, manage your taxes, and much more. But never fear! There are a variety of tools to help:

: It’s important to know exactly how much money you have coming in and how much you have going out of your freelancing business in order to be successful. QuickBooks Self-Employed helps you keep track of your finances, which is especially important at tax time.

Author: Jeff Tennery

Jeff Tennery is the founder and CEO of Moonlighting and has spent over 25 years in senior executive leadership roles at Verizon, AT&T Wireless, nTelos and Millennial Media. Jeff has spent the past couple years “moonlighting,” helping friends and co-founders on nights and weekends build the first on-demand mobile marketplace.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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