Freelancing is always a melting point of countless perceptions. It stimulates discussion on career security, financial security, work liberty, and many other aspects.
Those who have just entered the world of freelancing have many things to know. Across the world, it is rising as a promising earning option. However, many other things get on the dissection table when it comes to starting a freelance career. If you are a new comer, the information below can enlighten you with the necessary facts and details.
Freelancing does not mean you can cheat deadlines
Exactly!! Many new freelancers think that now they do not have set office timings and instructions they can be careless. Yes, you can always decide the time of work, but the final submission date is in the client’s hands.
A careless attitude towards the concern of the deadlines can snatch essential projects. In freelancing, you carry individual goodwill. Only you are going to bear the blame for poor performance or delay in project delivery.
Stay away from the most common mistakes new freelancers make
Believe it or not, there are some common pitfalls that most of the new freelancers do not notice. Make sure you do not repeat them. They are –
- Not controlling the distractions
- Depending on only one or two clients
- Not having a professional portfolio
- Completing work fast to get money faster
- Not knowing the specialization area
- Not staying in contact with the client
- Compromising on the payment part
- Not signing the contracts
- Taking too many projects in the greed of money
Read every mistake carefully and make a promise to your profession that nothing much will happen. These are also the indications of a short-term and unstable freelancing career.
Bookkeeping supports financial future
Irrespective of the earning, every citizen has to pay taxes, and bookkeeping is an important activity. It has varied benefits that you should know.
- It is necessary for tax reasons
- Tracking of finances become easy
- It helps you prove the income
- You can get bonus benefits while using a bookkeeping software
The prime benefit of bookkeeping is realized when you take significant and critical financial decisions. Suppose you want to buy a home and need a mortgage, but you have a bad credit score.
For a freelancer, it is already complicated to get a property loan due to the volatile nature of monthly income. Poor credit situation makes the circumstances worst. But through organized finances and improved recent payment behaviour, you can qualify for the mortgage with bad credit. Bookkeeping justifies each financial transaction and helps the finance companies understand your current situation clearly.
Always choose a profitable niche
It is not wise to work for a niche that gives no return on investments. Your client base and target projects should be able to provide brighter possibilities. The target market should be financially promising. Already for a new freelancer earning opportunities develop slowly.
Income graphs can take a lot of time to grow if you do not work for renowned or lucrative projects. Also, it negatively affects your career because there will be nothing impressive to mention in your portfolio.
Rejection is not destructive but just a part of your job
A realization of reality can help you stay stable at the right time. The client may not give a green signal to your work. The project you submit may not meet the criteria of its needs. As a result, rejection may happen.
If your work gets rejected, do not feel bad. It is just a part of a process. Such things happen. Even in a full-time job, your boss refuses your ideas and do not also appreciate honest efforts.
At least, freelancing is not that much harsh. It provides a very rational relationship between you and the client. If he is happy, he pays for the work. If he is not pleased with the work, there is no payment or no project from next time. No office politics, no discriminations between two employees, a freelancer is free from this mess.
The above facts are vital to facilitate your safe landing in the world of freelancing. Initially, things can be confusing and complicated. Gradually you are sure to start enjoying the ‘be your own boss’ feel.