So you’ve ditched the day job and decided to become self-employed! That’s great news; you will quickly realize just how rewarding working as a freelancer can be! However, working for yourself isn’t just fun and games. In fact, there is quite a bit that could go wrong, especially in your first year of self-employment.
Don’t worry, though; in this blog post, we’ve gathered some of the most common mistakes made by freelancers and how you can avoid them.
Not Knowing How Much You Are Worth
When most freelancers start to work for themselves, they have no idea exactly how much they are worth. Because of this, most freelancers and contractors set their fees and prices way too low. Many newbies think that they should set their prices low to start off with to attract some new clients.
While this is true to an extent, you need to make sure what the going rate for your industry is before you set your low prices. Otherwise, you may end up setting prices that are way too low and will never pay your bills! The best way to know how much you are worth is to see what other freelancers in your same line of work charge. You may be able to increase your prices once you get more experience under your belt. For more information on negotiating your prices see this article on assertiveness for freelancers.
Taking On Too Much Work
Many freelancers panic once they start working for themselves and they take on far too much work. This is because many think that they need to grab work while it is offered to them, to compensate for the periods when there is little work going. While this is true to some extent, it is also imperative not to take on too much work.
If you do take too much on, you will find that the overall quality of your work could decline. And this could eventually lead to you losing clients! Not only that, though but having too much work to do could mean you never get a day off! It is very important that you watch your work-life balance. Get it wrong, and you could end up extremely stressed. It can be very scary turning away clients at first. But if you explain that you have no availability left, they will understand and will return to you at a later date. Not sure how to split up your life as a freelancer? You can use one of these handy schedule guides: https://www.sitepoint.com/freelancer-schedules/.
Not Equipping Your Home
Once you are a freelancer, your home will become your office. So it is important that you treat it as such and get all the right equipment in place. If you have a spare bedroom, convert it into a home office. This ensures that you have a space dedicated to your work that is completely free from distractions.
You should also consider getting your home insurance policy changed so that it covers your home business. This will protect you in case anything goes wrong. Don’t forget to also think about your household security. If you have lots of expensive computer equipment for work, you will need an excellent security system in place to deter burglars. You can find out more about the best security system online: alarm-reviews.net/simplisafe-versus-adt/.
Not Knowing When To Stop
For most first-time freelancers, knowing when to call it a day is very hard. Sure, you could continue working on all that blog content you need to write, or you could leave it for tomorrow and get a good night’s sleep. If your deadline isn’t looming over your head, then the latter option in that scenario is the best one to choose.
It is incredibly important that you don’t work too late every day. Switching off early will give you plenty of time to wind down after a long day’s work. And you can get an early night so that you feel totally refreshed for the next busy day! So rather than trying to cram all your work into one long day, it is a much better idea to split it up over a few days. That way, you won’t feel so stressed and can enjoy some quality free time with all your friends and family!
Being a freelancer is a great way to earn your living. And you will especially feel all the benefits once you stop making all of the above common mistakes! Don’t worry if you do realize that you have been making these mistakes. They are super easy to overcome!