Freelancing is different. It’s not exactly full-fledged business (as in with leverage) but it’s a business nonetheless. It’s self-employment. It’s your own thing.
As such, it’s a world apart from a regular day job (no matter which level of day job you’d like to compare it with).
In effect, freelancing isn’t even comparable with the job of a CEO of a multi-national corporation. For the CEO, it’s still a job. He or she gets paid at the end of the month.
For freelancers, there’s no security like that. There’s no fall back cushion. There’s nothing but you to rely on. We see some freelancers succeed and many fail miserably. Here’s What You Absolutely Can’t Afford to Do As a Freelancer:
Comparing. Then comparing some more
What are you comparing with? Why do you need to compare apples and oranges? Many freelancers are often tempted to compare themselves with those who hold full-time jobs. They are often jealous of the fact that people with day jobs have a better life and a paycheck that arrives on time.
Here’s what freelancers get:
- Freedom & flexibility
- No politics. No bullying from the boss.
- If you do it well, paychecks can arrive all week, every week.
- At least a better opportunity to make more than an average person with a day job.
- An opportunity to say “no” to jobs, projects, or clients you don’t want to work with. You have a good life. Stop comparing
Pricing is certainly an art. The secret to pricing is this: you’ll always find a buyer at any price point.
However, your pricing needs to be justifiable. It has to be value-based. It has to accurately reflect your skills, experience, results, and more.
Some freelancers mistakenly think that “low price” or “high price” is good. No, it isn’t.
It takes a lifetime of work to figure out what you should be worth. Balance your pricing, take cues from the market, ask your clients, and do your research.
If you get lazy, you lose opportunities. Getting lazy just because you have enough clients on the table and sufficient cash rolling in is the worst thing you can do. You’ll never have enough clients or the money, ever. Plus, what you have today won’t be there tomorrow. Clients come and go. Cashflow goes positive to negative and back.
Some freelancers get lazier when there are actually no projects or no work to do. It should be during times like these when the hustler in you should wake up.
Lying around doing nothing, watching television, and taking off anywhere you want to (just because you can) is plain stupid.
Not manage yourself
The biggest stumbling block to freelancing is you — it’s not the state of the economy, the market, the clients, or the falling dollar. You are the biggest reason you don’t succeed.
Obviously, you are human. You go through mood swings, ups, downs, and you’d often drift into a state of limbo. That’s fine. But managing yourself is your biggest and most important responsibility.
What are you doing to hold yourself back?
About Peer Hustle
Peer Hustle is a local on-demand freelancer marketplace. Download our app and start monetizing your unique skills today.
Originally published at peerhustle.com on October 21, 2015.