Being your boss is the dream, right? Sure, it comes with a lot of work, but the perks are great. And more and more people are turning to freelance. According to Forbes, nearly half of American workers will be freelancers by 2020.
The rapid rise of the gig economy means that many people have been left at a loss as to how to become professional freelancers. So, here are 14 tips for any millennial looking to go solo:
| Takeaway |
|---|
| Embrace the Gig Economy |
| Master Time Management |
| Cultivate Strong Networking Skills |
| Diversify Your Skill Set |
| Set Clear Work-Life Boundaries |
| Create a Professional Portfolio |
| Stay Updated with Industry Trends |
| Practice Effective Communication |
| Be Proactive in Client Outreach |
| Develop a Solid Financial Plan |
| Prioritize Self-Care and Wellbeing |
| Seek Continuous Learning Opportunities |
| Emphasize Delivering Quality Work |
| Stay Persistent and Resilient |
1. Identify Your Goals
This is the most important step in any goal-setting process. To identify your goals, you must first determine what they are. Once you’ve done this, it’s time to begin listing them. Here are some guidelines:
Be clear about your goals. Do not set ambiguous or vague goals, and make sure that each one is specific enough that you can know when it has been reached (or if it has yet to be realized).
List your goals in order of importance to ensure that even if the time comes when one or more becomes unattainable, there will still be others left over for which there is still hope and motivation!
Be realistic about each item on this list; if something seems unattainable at first glance then maybe there’s something else out there worth striving for instead!
Try not to let yourself get discouraged by setbacks; keep trying until things start going better again…but don’t give up completely just because something hasn’t worked out yet either! Stay committed even when it seems like nothing’s happening at all.”
Freelancing offers diverse opportunities, but understanding the unique dynamics is crucial. Explore our guide on 13 Ways We Are Different in the Freelance World to gain insights into the freelance landscape and thrive in this dynamic environment.
2. Research Your Market
Whether you are a designer, a writer, or any other type of freelancer, it is important to research your market.
If you have an idea for a website or an app but have not done any research on what is already available in your industry, then it might be worth considering whether that idea is feasible.
Competition can be fierce in some industries and it may be difficult for you to compete with larger companies that have resources like money, time, and highly skilled employees at their disposal.
Researching the market will help you understand what clients want; this will help with creating compelling content for them and also help with marketing yourself as an expert in your particular field.
3. Be Your Boss
As a millennial freelancer, you are your boss. You get to decide where you work when you work, and how you work. With this freedom comes the responsibility of learning how to manage yourself from being productive in the morning to manage your time throughout the day.
But having autonomy over your schedule means more than just flexing when it comes time for lunch; it also means choosing projects that fit into your lifestyle.
If you love traveling as much as I do (and I hope at least some of my readers do), traveling can be an important part of finding fulfilling work that doesn’t require long hours at an office desk with little or no daylight exposure.
The gig economy has transformed the way people work and earn a living. Discover the impact of this trend in our article, Freelancers: What Can You Tell Us About the Gig Economy?, and learn how freelancers are shaping the future of work.
4. Master The Art of Networking
The best way to find new clients is through networking.
Networking can be a bit of a scary word, but it’s not that hard. If you find the right people and make yourself available, it will pay dividends in terms of finding new clients as well as friends and collaborators.
Here are some tips for getting started with networking:
Make sure you know what your network looks like before you start building it.* It’s good to know who your current contacts are so that when opportunities come up in their field or industry, you can make sure they hear about them first.
At the same time though, don’t forget about growing outside of your existing circle of friends and acquaintances you never know how many amazing things could happen if only someone were willing!
5. Don’t Be Afraid of Being Transparent
Being transparent is one of the best things you can do for yourself as a freelancer. It will help you find work and earn more, so it doesn’t even matter if you don’t like people knowing things about your personal life you should still be open about it.
Be honest about your skills and experience. If someone asks what kind of work you do, tell them exactly what they need to know so that they don’t waste their time or yours.
Be transparent about your availability and rates. If someone calls in the middle of dinner with friends to ask for help on a project at 3 am on Saturday, don’t let him down because he didn’t ask about availability first (and make sure he knows this).
Also make sure that if people are paying X amount per hour/day/week/month/year, then they understand what kind of output that implies before hiring anyone off Craigslist or Upwork instead of paying an experienced specialist who has already done similar projects successfully before.
6. Communicate To Keep Deadlines On Track
When it comes to communicating with your clients and keeping your work on the track, there are a few tools you can use.
One way is to communicate via email. But with so many emails floating around in the ether, it’s easy for important messages (or even urgent ones) to get lost in the shuffle.
Another option is using a project management tool like Basecamp 3 or Harvest which allows clients and freelancers alike to comment on tasks, add due dates and deadlines, assign tasks within the context of other projects, etc.
This means everything is centralized in one place! As long as both parties are using the same tool at all times then everything should be clear for everyone involved.
Misconceptions about freelancing can hinder your career growth. Unravel the truth in our comprehensive piece, Millennials and Freelancing: 8 Myths Debunked, and gain clarity on what it truly means to be a successful freelancer.
7. Secure A Stable Income From Multiple Sources
As a freelancer, you’re your boss. You can work whenever and wherever you want, as long as it’s within the law.
That being said, freelancers often have to deal with fluctuations in their income due to the nature of their business. If you are a new freelancer or just starting, here are some tips for securing a stable monthly income:
Find a reliable source of income: This is by far the most important thing that any freelance worker needs to do when they first begin working on their own.
Without having an established client base or a steady flow of work coming in each month, it’s difficult for freelancers to stay afloat financially even if they love what they do!
The best way for someone who wants stability as a freelancer is to find one or two reliable sources of income from big brands/companies like Google AdSense or Amazon ads (if done correctly). Most importantly…
Diversify Your Income from Multiple Sources: Again this might sound obvious but having multiple sources will allow you more flexibility.
If one drops off unexpectedly which tends not to happen often unless there’s been some major change at the company – like layoffs due either staff cutbacks or changes management structure etcetera.”
8. Have A Budget And Stick To It
The first thing you need to do when starting your business is creating a budget. Why? Because if you don’t have one, you won’t know how much money you need to make every month and therefore will end up spending too much or not making enough.
Here are some tips for creating and sticking to your budget:
Sit down with a pen and paper and write down all of your monthly expenses (rent, food, utilities).
Then add up those numbers across a year this is roughly how much it costs per month to live in your city without going into debt or living paycheck-to-paycheck (i.e., having enough money at the end of each pay cycle).
If this amount seems high compared with what your salary would be as an employee, then it may mean that freelancing isn’t right for every job seeker;
Instead, look into other options like entrepreneurship or telecommuting full time rather than trying our best but failing because we aren’t properly prepared for success!
Now take those numbers from step 1 above plus any additional expenses that come up throughout the year such as buying new equipment/software licenses/etc., commuting costs (if applicable), unexpected medical bills due to illness etcetera.
Add all those up together so now we know exactly how much money needs to be earned per month before taxes are taken out which means even less left over after paying taxes until there’s nothing left – no matter how hard we try.”
Embracing the freelance lifestyle full-time can be a rewarding decision. Explore our article, 15 Ways Millennials Can Live the Freelance Life Full-Time, for valuable tips on successfully transitioning into a fulfilling freelance career.
9. Take Advantage Of Technology
Use technology to keep in touch with your clients. While it’s important to establish a personal connection when you’re first meeting a client, once the contract is signed and work begins, stay professional by using email for all communications.
Use technology to keep track of your expenses. Make sure you have access to an accounting program so that you can record every expense and create an itemized invoice at the end of each month (or week). This will make filing taxes much easier!
Use technology to keep track of your income. If you want tax software like TurboTax or H&R Block if it makes sense for your business needs; but just having hard copies saved somewhere on paper isn’t enough you’ll be glad when April rolls around!
10. Make Time For Self-Care
When you’re freelancing, it can be easy to fall into the trap of thinking that you can work all the time.
After all, there are no bosses or co-workers to answer to and deadlines are often self-imposed. You can set your hours, take breaks whenever you want, and even take vacations without asking permission from anyone but this comes at a price: your health.
If you don’t make time for self-care, it will come back to bite you in ways that could impact your career and happiness in the long run.
Self-care means taking care of yourself so that when challenges arise during work hours (and they inevitably will), they won’t derail your productivity as easily or throw off your mental state for days afterward.
11. Develop Good Habits By Working In A Space Separate From Your Bedroom Or Home Office
One habit you should develop is creating a separate space for work. This could be a dedicated room or even just an area of the home that’s free from distractions.
In this way, you’ll have an established place where you can focus on your work without having to worry about other things like laundry and dishes that might distract you away from your screen. The more organized and focused your workspace is, the better results will come out of it!
12. Find A Support Group For Freelancers
Having a supportive community of freelancers can help you stay motivated and positive. As a freelancer, it’s easy to feel isolated in your work and life.
A good support group can keep you connected with other freelancers, give you advice on how to handle problems that come up, and encourage you when things get tough.
Here are some ways to find a support group for freelancers:
- Find an online group that suits your needs
- Look for local groups
- Attend events hosted by companies and organizations related to what you do
13. Learn When To Say No To A Job Offer
Being a freelancer means that you’re your boss, but that also means you need to be willing to say no at times. It can be difficult for younger freelancers who have been raised in a culture of “yes-men” and “can-do attitude”, especially in the early stages of their career.
But being able to turn down work isn’t just important when it comes to your mental health and well-being, it’s also important for your business success as well!
Be honest with yourself about how much work you can handle right now. Don’t feel bad about turning down jobs if they’re too much or don’t pay enough;
You’ll burn out quickly and lose clients because they won’t want to work with someone who doesn’t put in the effort needed until they’ve proven themselves reliable and trustworthy.
If something is asking too much of your time/energy/resources (which includes relationships), don’t take on more than what’s necessary at this moment in time – even if it seems like there are resources available later on down the road!
Before accepting any job offer (or starting one), always ask: “How many hours per day does this project require?” “How many weeks will this assignment last?” Make sure these answers add up before moving forward.”
If you’re seeking new challenges beyond freelancing, consider starting a side hustle. Our guide, Tired of Freelancing? Here’s How to Start a Side Hustle Business, provides essential insights to help you kickstart your entrepreneurial journey while capitalizing on your skills.
14. Plan Ahead For Taxes And Retirement Contributing As An Independent Contractor Isn’t Easy – But Employers Are Starting To Help Out
As an independent contractor, it’s up to you to pay your taxes and manage your retirement savings. That can be tricky, especially if you’re new at this. But there are some things you can do to make it easier on yourself.
In the United States, employers are required by law to withhold Social Security tax and Medicare tax from their employees’ wages during each pay period.
But when you’re self-employed as a freelancer or otherwise you’re responsible for paying both of those taxes on your behalf each year as well as any state income tax where applicable (in most cases).
The good news is that many employers offer 401(k) plans which allow workers to contribute part of their paycheck pre-tax so they don’t need to come up with that money out of pocket later on;
These programs also include employer matching contributions so contributing more means earning more in benefits upon retirement down the line!
Takeaway
As a freelance writer, it’s important to keep in mind that you’re your boss. No one is going to be looking over your shoulder or checking up on you. This can be both freeing and frightening depending on the situation.
If you set goals for yourself and hold yourself accountable, though, freelancing will be an excellent way to earn extra money while still having some control over your schedule.
Conclusion
Freelancing is not an easy job. Sure, it comes with a lot of perks but it also has its fair share of pitfalls. And if you’re a millennial freelancer, things can get even more complicated because you are juggling many things at the same time – whether it’s your finances, family, or personal life.
Fortunately, there are ways to make your freelance career more manageable and successful in the long run if you follow these tips on how to navigate it all!
Further Reading
How to Become a Successful Freelancer: Learn essential tips and strategies to achieve success in your freelancing career.
Freelancer Tips for Success: Discover valuable advice from experienced freelancers to excel in your freelance endeavors.
Managing Millennial Freelancers: 6 Things to Remember: Get insights into effectively managing millennial freelancers and optimizing your freelance team.
FAQs
What are the key steps to becoming a successful freelancer?
Becoming a successful freelancer involves identifying your skills, building a strong portfolio, networking, and delivering exceptional work to clients.
How can freelancers maintain a healthy work-life balance?
Freelancers can maintain work-life balance by setting boundaries, scheduling breaks, and adopting time management techniques.
What are some effective ways to find freelance clients?
Utilize online platforms, networking events, and referrals to find potential clients and showcase your expertise.
How can freelancers handle payment and invoicing efficiently?
Freelancers can use digital payment platforms and invoicing tools to streamline payment processes and ensure timely transactions.
How do millennial freelancers differ in their work approach?
Millennial freelancers often prioritize flexibility, remote work options, and purpose-driven projects in their freelance careers.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.