The truth about freelancing

So you’re dreaming about getting paid $100/hr while drinking a Heineken on a Bali beach? This is sometimes how freelancing is portrayed. “Oh. You work from home!? That must be nice!” Choose your hours, get paid handsomely, and live wherever you want. What’s not said as much is the other side of the coin. The fierce competition, the feast and famine, the depression, ridiculous deadlines, dealing with penny pinching clients, getting your money stolen, sometimes making below poverty, amongst other things. Some may say, “Well you’re doing it wrong.” That’s true to some extent, but it’s not just as simple as “doing it right.” Freelancing requires more than a desire for freedom, it requires true grit. A lot of what you learned as an employee is not applicable to the freelancing world. Forget about stability for your first few years (heck, maybe even more), forget about 401k matching, forget about paid vacations, forget about predictable work hours, forget team building events. Your world as an FTE has ended. You are now a business owner and with that you are now responsible for your own destiny. You are responsible for sales, marketing, project management, providing deliverables using your skills, accounting, taxes, local government requirements, health insurance, and retirement. You’re responsible for making things happen.

So where’s the path to success? How do you make freelancing work? In the end it’s all about finding value for your client and getting compensated for that. It’s about having goals and learning how to say no. It’s about positioning yourself the right way and knowing the strong points you have that matter to your clients. It’s about knowing that not every prospect will be a right fit. It’s about calculating your steps and not coming off as desperate. You may lose clients to gain better ones. You may need to pick up crummy work just to get by in the lean months. But if you have grit and adapt you can make it. You can get the clients you want. You can charge what your worth (not to be confused with what you think you’re worth). To make it solidly, it’s better to have somewhat of a plan. Not all plans work, but “Failing to plan is planning to fail”. It’s okay if you’re plan doesn’t work. You won’t get it right all of the time, but what’s important is that you learn what went wrong and work around that. Don’t forget that you make deals with humans. Don’t minimize how powerful creating genuine relationships can do for your business. I can’t stress this enough. You’ll find your best clients and make your most money by investing in relationships. Trust me.

So if you’re considering doing full-time freelancing, hold your head up high. Be prepared for a potentially bumpy journey. It’s completely possible, but not without its hardships. I hope the best in your endeavors.