We’re living in the era of freelance work, with many people switching jobs frequently to seek better opportunities or completely exiting the conventional workforce, and leaving their 9-5 jobs behind. This is an ideal time to monetize your talents and work on your own terms. I often advise people who are eager to earn an additional income to consider freelancing because of its flexibility and the potential to determine your own rates.
While juggling college and parenting, I was too occupied and drained to secure a second job as a means to augment my income and clear my debts. I began working as a freelance writer and witnessed my income rise quickly. After around a year and a half, I decided to quit my primary job and commit full time to freelancing. Freelancing is not suitable for everyone, but it works wonderfully for me. If you aspire to tread a similar path, here are some tips to transition a freelance gig into a full-time profession.
SELECT A PROFITABLE, LONG-LASTING STREAM
The secret to successful full-time freelancing is securing regular work from clients as opposed to sporadic projects. Offering a service that’s in demand, profitable, and can guarantee sustained work can help you achieve this. I opted for writing because I’m aware that millions require top-notch content for their blogs, publications, or websites.
The demand for gifted writers is forever, and it’s not a job that can be eliminated entirely by technology. After 18 months of working with a host of clients, I noted a pattern and felt my income was stable enough to sustain myself.
If writing is not your forte, there are numerous other services you can offer. Graphic design, programming, transcription, editing, photography, digital marketing, and virtual assistant work are all lucrative niches to build a sustainable career over time.
INITIALLY AIM FOR 1-3 CLIENTS
If you get one-time gigs, express your interest in ongoing work and negotiate a contract.
ESTABLISH YOUR REPUTATION
Successful full-time freelancers rely on robust client relationships and an extensive network for future leads or resources. Establishing a strong presence helps in ensuring ample leads and client relations, hence securing enough work.
Develop a professional website, portfolio, and establish your presence on social media. Attend networking events to coalition with more people. Participate in Facebook groups or Local Meetup events to network.
Building up a commendable reputation for your services is crucial as your next client could find you simply because they were impressed by your work.
HONE YOUR PITCHING SKILLS
Even if you base your freelance business on referrals, it’s still imperative to learn how to pitch efficiently to clients when you are running low on leads. Don’t shy away from pitching to clients directly but ensure they’re well thought out.
Understand how to communicate effectively via email and work towards delivering a succinct and actionable pitch. I have bagged several gigs through cold pitching.
SET YOUR PRICES FOR PROFIT
Being a freelancer means running your business, which involves marketing, managing emails, sending invoices, and accounting. You also have to cater to your taxes and costs such as health care and retirement plans, which means you need to charge enough to meet all your financial demands.
Save for the unexpected
Uncertainties will crop up despite dedicated efforts. For instance, you might lose a client abruptly. It’s crucial to have sufficient savings to cover expenses as you build your client base. I suggest freelancers save six months’ worth of expenses before going full time.
I’m thankful for the gig economy and the freelancing opportunities it presents. With the right choice of service, right pricing, networking, increasing your client load, and substantial savings, it’s possible to transition a freelance gig into a full-time job. Are you considering freelancing full time? What actions are you taking to achieve this?
Source: SmartAsset.com
