3 Questions To Ask Yourself Before Going Freelance

July 15 2016, 0 Comments

Many people dream of giving up the rat race and going it alone in business. Sometimes it’s a case of feeling under appreciated in the workplace, or perhaps you’re looking for greater flexibility in your work day to allow you the freedom to spend more time with your family. Whatever the reasons, there are many things you need to consider before going it alone in the freelance industry.

While freelancing may offer many new opportunities not available to traditional office workers, it also presents a fresh set of obstacles which you must be prepared to overcome. Before making the switch to freelance working, ask yourself these following questions to ensure it’s the right move for you.

Are Your Finances In Order?

Making sure you’re in a strong financial position before you start freelancing is essential if you want to fare well in the first months and years. Freelancing is synonymous with irregular income, so you need to be financially prepared for periods of financial hardship. Start by having a buffer of savings in place to help you out of tricky situations, and then make sure you keep track of your finances using specialist bookkeeping software to keep everything running smoothly. Keeping your business finances separate from your personal finances is the best way to ensure you keep everything in order and can successfully budget for any possible scenario.

Do You Have A Strong Network?

The easiest way to source new business as a freelancer is to make use of your personal network. If you’ve recently moved to a new town and aren’t making the effort to network in your new area then you might be at a disadvantage. Someone who has made the most of networking opportunities will be able to leverage those contacts and turn them into new business opportunities. If you don’t have a strong network already, there are many steps you can take to quickly build one. Try attending business events to get your name out there, or use business networking site such as LinkedIn to connect with old friends and colleagues.

Are You Self-Motivated Enough To Prevail?

Working for yourself requires a huge amount of motivation and willpower. Without a boss breathing down your neck or the external pressure of sales targets, it can be difficult to stay on task and keep working. A common trait that unites freelancers is that they are all incredibly self-motivated and can perform well under self-imposed targets. Pushing your business to the next level will be entirely your own responsibility, so you need to make sure you are self-motivated enough to keep going.