A quick guide to earning money as a freelancer
Guest article by Mark Harris
Image via Pexels
There are so many great advantages of freelancing — especially in the age of COVID-19 — but getting started as a freelancer can be a bit of a challenge. After all, freelancers are responsible for marketing themselves and finding their own clients — and many need a professional portfolio that showcases the skills they’d like to sell. Freelance writers, for example, should be able to present a collection of writing samples, while graphic designers need proof of the logos and designs they’ve created.
If you’re thinking of launching a freelancing career but don’t know where to begin, this guide is a great starting point. Read on to learn how to assess your marketable skills, incorporate your business and look for ways to earn money as a freelancer!
Assess your skills
Once you’ve made the decision to get started as a freelancer, you’ll need to assess the skills you’ve built in your personal and professional life. Depending on your hobbies and career, these skills may include things like:
Writing
Bookkeeping
Marketing
Social media
Coding
Graphic design and website design
Project management
Photography
Sales
Next, you’ll need to define your most valuable skill. Ideally, this will be something you’re great at and interested in — as this will be the skill you’ll use to launch your freelance career. Some examples of freelance jobs for beginners include blog writing, proofreading, photo editing, print design, back-end development, financial advising and data entry.
Launch your freelance business
After choosing your freelancing niche, you’ll need to complete the official business formation process. This means naming your business, choosing a legal structure, and creating a website and/or online portfolio. If you want help building your website, many professionals offer different website packages for Wordpress that include hosting, as well as SEO optimisation.
As for structuring your freelance business, you’ll need to decide between a sole proprietorship, limited liability company (LLC), corporation or partnership. Sole proprietorships, for instance, are easy to launch — but they don’t offer as many advantages as LLCs do. On the other hand, LLCs offer tax advantages, personal liability protection and management flexibility.
If you’re wondering how to start a business, ZenBusiness can walk you through the entire process. You’ll minimise stress and avoid expensive legal fees, helping you to reduce startup costs and get your freelance business up and running in less time. However, you’ll still need to review the relevant business formation laws before moving forward — as these requirements vary depending on where you live.
Even in the very early stages of a venture, marketing is still important. So practice due diligence and research marketing techniques and strategies you can put to use. If you have the funds, consider working with a freelance marketing specialist. They’ll have the insight you’re looking for, and they can guide you in your initial campaign. You can still participate if you have a vision, and you’ll want to gather information to explain your vision, but let your freelancer do the heavy lifting. When sending graphics, images or even documents, use a JPG to PDF converter to reduce file sizes and to make sharing files easier.
Review tax requirements for freelancers
In addition to assessing your skills and deciding on a business structure, you’ll need to understand your tax requirements as a freelancer. All freelancers working in the UK have to register with HMRC once they earn over £1,000 (up until that point earnings are considered as a hobby). In the US, freelancers must pay state and federal taxes, and some counties charge local taxes as well. In some cases, you may also need to pay sales taxes.
Look for freelance work
Now that you’ve launched your freelance business, it’s time to get to work! And fortunately, many freelance job websites can help you to find reliable work opportunities. For example, if you offer video editing services, you can create a profile and share your credentials and skills with would-be clients. You can also look for freelance clients by promoting your business on social media, building connections on LinkedIn, and attending networking events in your community.
The bottom line
Freelancing is an excellent way to work from home and set your own hours and rates, but there’s a lot you’ll need to consider before getting started. In some cases, it may be best to start freelancing on the side or on a part-time basis — but this will depend on your specific situation. Whatever you decide, these tips will help you to launch your new career and start earning money as a freelancer!
If you need a professional editor and copywriter to help grow your new business venture, get in touch with Jen Potter. Learn more about the services she provides.
This guest feature was written by Mark Harris of Awareness Toolkits. Mark is one of five “explorers” at Awareness Toolkits, who dig deep to find info for the creation of toolkits (articles, resource links, tips, guides, etc.) for those looking to spread awareness about specific subjects.