The gig economy has become an employment powerhouse for nearly 59 million Americans, according to a Freelance Forward report in 2021 published by the work platform Upwork. In the same breath, it has now become more apparent than ever that working from home and freelancing is more of a hurdle for some employees as they can rank in multiple figures. Here’s how to start expanding your freelance career into a small business career.
Technology and the Internet Will Help Your Scale to a Small Business
With the rapid digitization of the workplace, as companies become more open to jobs remotely, freelancers have simultaneously found themselves in a comfortable position during the transition. On the same subject : Businesses and stakeholders invited to take part in Disadvantaged Business Enterprise webinars on 28 June.
Nowadays, technology and the internet have enabled employees and companies to communicate with each other effectively, as well as with their clients and potential customers. This means freelancers can now grow their freelance businesses faster and more efficiently.
Basic Communication is an Organizational Tool Your Will Need to Scale Your Freelancing
Basic communication and organizational tools are now more digital and easier to use. In addition, the internet and cloud software allow businesses and freelancers to improve their workflow more seamlessly without the need for traditional tools. See the article : Retired QB Ryan Fitzpatrick Joins Prime Video’s ‘TNF’ Show. The Freelancing America report noted that about 77% of freelancers say technology and software capabilities have made freelancing easier.
With freelancers now having easier access to the right tools, how can they expand their business, moving from part-time to full-time development, enabling them to run and operate as a small business?
Although it is a challenging way that gives freelancers the opportunity to establish themselves as a small business – here is a look at some key metrics that freelancers can use to improve their business prospects.
Freelancing vs. Small Business vs. Contractors vs. Consultants
Before we can jump in, there are some defining differences between freelancers and self-employed individuals, eg, small business owners, contractors, and consultants. This may interest you : A state food preparation class was offered at Coffee Co..
Here’s a look at each of their characteristics.
Freelance: In the gig economy, freelancers tend to work part-time or on an assignment basis. This means that these individuals can work for more than one person or company at a time, and work is linked to a pre-approved assignment framework.
Small Business Owner: Not a direct definition, as it can generally vary, but a small business owner can be considered to have developed a service or product for the benefit of the consumer market, either alongside employees or other stakeholders. .
Contractors: These individuals work for one specific person or company at a time, with an approved employment agreement. A contractor is usually employed by a company or company to complete a set of pre-assigned job specifications.
Consultants: Consultants are usually seen as the brain behind specific jobs and projects. A consultant usually consults on a project, providing industry insight and information. Consultants are not traditionally involved in the final phase of the project.
What we can take from this is that freelancers are more flexible, and can work on a series of projects and jobs at the same time. This means that, in most cases, they are not contractually obligated to one particular employer.
Freelancing is much more flexible, and creative people in this industry tend to work on various projects throughout their time. Yet, sometimes it can be challenging to juggle multiple deadlines or project formats. And, of course, freelancers are not treated as full-time workers, which means they don’t get work-related benefits from their temporary employer.
Scaling up your freelancing career to a small business
For freelance professionals, there may have been a time when they noticed their business becoming increasingly difficult. On another occasion, they stumble upon a new and fresher concept that will help them further develop their existing niche.
Whatever it may be, it’s possible for a freelancer to move his practice into the small business ecosystem, and here’s how.
Perfect Your Skills To Find Your Niche
A great place to start for any freelancer is to look at their skills and expertise and begin to narrow down one or two specific skills they can improve.
What this means is that while you may be the jack of all trades in the scope of your practice, often larger and more established companies tend to look for individuals who specialize in their field. Continuing education is what helps overcome hardships and unpredictable challenges, and for freelancers, this could mean more business and more money in their pockets.
Find what you do well, be it photography, design or writing, and focus on that niche. The more time and effort you put into it, the faster you can hone those abilities.
Create an online presence
In the gig economy, it’s easy to look at any job portal, browse through the hundreds of different jobs and apply to those that seem relevant. The digital world has made it easier, and more convenient, to find jobs that suit your range of skills.
Step up your online presence — this means social media
While working on your online presence is convenient and sometimes effective, it can also seem less personal. As a freelancer, now ready to step up his game, consider how an online presence, whether it’s a website, blog, or online portfolio, will help you become more professional and connect with connected clients.
As you grow this niche, you should focus on channels where you are sure to find most of your potential clients and customers. The easier it is for clients to find your business online or your portfolio, the easier it can be for them to contact you.
Being online is one of the many ways you can establish yourself as a single entity and a professional service provider. It helps you manage your projects and clients better and is the perfect starting point for someone who wants to expand their freelance career.
Grow Your Network
Networking helps get your name out there. What’s more, it’s one of the easiest ways to connect with people in your field or industry.
Growing your network is not only to build a strong referral list but also a way of connecting with people who can connect you to potential jobs and clients.
A freelancer is just as good as the people they work for and connect with, so keeping an open mind when it comes to connecting with new people is essential. The digital landscape is packed with platforms like LinkedIn, Indeed, and Fiverr, where professionals can network with each other.
Offer A Product Or Service
Entrepreneurs start businesses to find solutions to current problems in their market. When working on your own initiative, consider how a service or product you offer can be offered as a solution to potential clients.
If you start to notice that there is a shortage of graphic designers or UX specialists in your area, create services and packages that are tailored to your direct consumer market.
It’s not as easy as it sounds, as it takes a little time to put it all together. From market-related research to networking with competitors, finding a skills shortage in your immediate community that you already have can consume a lot of time and resources.
Raise Your Prices
Freelancers tend to work part-time or contractually, setting out what they can expect to receive as compensation once the work is completed.
If you are now planning to move to make things more full-time, and perhaps in the near future, increase the amount of work you receive to establish yourself as a small business, then it may be time raise your prices.
Raising your prices is not for selfish reasons, but for the known fact that those seeking help on a particular subject will pay for high quality, skilled individuals. So, if you have a much-needed skill, consider how you can fund it, without overcompensating.
Use A Contract For Everything
Setting up a contract for your work can seem a bit boring, even if it’s something like proofreading articles or editing pictures. However, you are offering your expertise and skills to a paying client, and there should be clear ground rules about how it will work.
At first, your contract will not need to be a formal, 10-page document outlining the terms and conditions of use. Instead, focus on what the client can expect from you, and what is expected of them in return.
The contract helps to create a legal agreement between you and the client, helping to give you more peace of mind during the completion of the project. Contracts can be seen as one of the many insights that freelancers can gain from enterprise businesses.
If a customer ceases to be satisfied with your work, or an increase, or even worse, refuses to pay; at least you have the contractual agreement as a safety net.
Always make sure that whatever is stated in the contract is workable for you and your clients.
Working as a freelancer gives creative people space to be more flexible with their work. In addition, it allows them to network with companies and business leaders, which can lead to potential job opportunities or more full-time deals.
Whether you are an inexperienced freelancer or someone who is now at a point where your busyness is starting to rise – there is always room for it to grow in the right direction.
Moving from working full time or professional freelance to operating a small business is now an easy caveat, and it takes some time to smooth out all the margins.
Your freelance business has the potential to turn into a small business venture, but be aware that you will have to work for it. Remember to sharpen your niche, sell a skill, and network as much as possible, and you’re already at the right start.
Image Credit: Pexels; Thanks!
The post Increasing Your Freelance Career for a Small Business first appeared on Calendar.
Can I start a business as a freelancer?
A large part of working as a freelancer is about producing your own business (see below). Online companies like LogoWorks and PrintRunner offer affordable ways to order business cards for your new profession so you have an extra way to connect with potential clients. Obtain DBA or individual ownership.
Is freelancing better than full time job?
A full time job is more about working to manage the boss or senior management. However, there are no such restrictions on freelancing. For example, they are not interested in undertaking any assignment, they are free to reject it. Moreover, the world is moving towards flexibility and freedom in the workplace.
Is it worth it to be a freelancer? Freelancing can also be a Job Search Value It shows employers that you’re keeping fit and keeping your skills “fresh”, while also giving you some side income. What is it? And you may find that you are so successful with your freelance projects that you do not eventually need to find full time work!
Is being a freelancer a good alternative to being a full-time employee?
Benefits of Full Time Freelancing is much more than flexible hours and being your own boss. One of the biggest benefits of full-time employment (and the disadvantages of doing gigs) is employer-provided benefits, such as health insurance, 401 (k) plans, sick days and paid vacation time.
How can I be a better freelancer?
20 Tips for Freelancers
- Tip # 1: Create a Business Plan. …
- Tip # 2: Work on Your Own Projects. …
- Tip # 3: Reaching Out to Old Clients. …
- Tip # 4: Do Not Isolate Yourself. …
- Tip # 5: Grow Your Online Presence. …
- Tip # 6: Letting Clients Go. …
- Tip # 7: Attend Freelance Networking Events. …
- Tip # 8: Advanced Offer.
What makes a successful freelancer? Professional. To be taken seriously as a freelancer, you need to gain the trust of your client. This means you communicate well, keep your promises, do your job within the agreed timescale and maintain high quality standards.
Why is freelancing so hard?
As well as having the ability to live with uncertainty, a successful freelancer also needs a lot of self-confidence. You have to believe in yourself and your worth, especially in getting paid what you deserve. Negotiating rates and contracts, and dealing with any bad clients, requires courage and self-belief.