TIPS TO BECOME A SUCCESSFUL FREELANCER

Freelancing opportunities are growing rapidly across industries. Find out how to make the most of this trend.

GETTING STARTED

The jobs are everywhere. What you need to do is find the niche that matches your expertise. It pays to keep you abreast of the latest developments in your chosen field. Freelancers don’t have the luxury of a big brand name to back them. It is their work that speaks for them. So the first step is to build a portfolio of work samples and testimonials from satisfied clients. Don’t make it too expensive, just a select representation of what you are capable of.

FINDING WORK

Finding work is perhaps the toughest part for a freelancer. But it has become easier in recent years, with the advent of social media and websites that play matchmaker between clients and freelancers. Though freelancing portals take a 10-15% cut from your earnings, it is worth the cost. For a freelancer, dealing with an overseas client directly can be very problematic. Even dealing with a domestic entity is fraught with problems. Clients arm twist the freelancer, knowing that he is on his own. Payments gets delayed and work is rejected without assigning any plausible reason. You can jump past these hurdles if you go through a website.

The most popular foreign freelance sites are Elance.com and freelancer.com. However do conduct a background check before you deal with these websites.

FINANCIAL IMPLICATIONS

It may offer freedom, but there is no stability of income in freelancing. You can never be sure about the next project. For those saddled with financial responsibilities, it can lead to a sticky situation if there is a long dry spell.

For freelancers with lumpy incomes, it is advisable to take a conservative estimate of your salary. It helps keep a tighter rein on expenses and gives you a buffer in case of an emergency. In the absence of group insurance and retrial benefits, you need to buy a cover for yourself and your family, as well as save for unforeseen events.

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