How To Start a Freelancing Business [Complete Guide]
Who don’t want to earn money from home? Isn’t it good if you don’t need to go for a job and you can earn a handsome amount of money by doing some work from home? It sounds great. Yes, there are many online marketplaces available on the web where you can sell your skill and earn from home. If you are good at something then you can defiantly start your business as freelancer on any marketplace and monetize your skill. Let me tell one small success story of freelancer person who is into the freelancing business since 2006.
So let me give you a short introduction to the person who is recently featured by Freelancer as Top Freelancer of Malaysia. Yes, I am talking about Reginald Chan here. Let’s have a small introduction about him in his words…
My name is Reginald Chan and I’m a professional content writer. I work as a freelancer (especially in content writing) since 2006. It all started from blogging and slowly, it became more than just a hobby. I started writing for companies and soon after, my articles were published on sites such as Harvard University blog, Yahoo Small Business and Huffington Post. I’m also featured by Freelancer.com as the top freelancer in my country, Malaysia. Now, I run my blog at ReginaldChan.net based on blogging, marketing and WordPress. On the side, I am creating an online freelance course for beginners in the coming months.
How to become successful in freelancing:
• Always be truthful to your employers
• You don’t have to know everything, BUT you need to try to know at least a little (and learn along the way)
• Freelancing is all about giving 200%, NOT 100%
• When you give 200% effort, employers can feel that and they will rehire you for the next project
• Never give up
• Have the right strategy There are many strategies in freelancing that I can’t cover them all in this short post. However, if you want to know more about freelancing, you may want to participate (for free) in my upcoming freelance training. To get free access, you need to start by filling up this survey: https://goo.gl/forms/LkePRT9GngJni30d2
Read More: 15 Ways To Make Money Online
Advantages of Freelancing
- Flexible hours: The main advantage comes from freelancing is you can work when you want to work. Generally, most of the jobs are 9 to 5 jobs. It is not necessary that everyone likes this time of working. There are many people who are more productive in early morning or late night. For them freelancing is the best way to earn money. In freelancing you can choose your most productive time and work according to that. Even on weekends you can take break and explore your city.
- You choose your clients: In freelancing, you are free to choose your clients. With 9 to 5 job there is no flexibility. Even if you don’t like your client, you cannot do anything. But in freelancing, you can change your clients if you don’t like to work with them or you are not satisfied with their behaviour and payment methods. It is very easy in freelancing.
- You can choose your Workspace: This is one more benefit that comes in freelancing. As a freelancer you don’t need to go to any office for work. You can work from anywhere. If you like to work from your favourite coffee shop or form your home, it is your choice. Even you can work with the remote people who are not living in same country as you. So by freelancing you can work with anyone in this world.
- You are your boss: Many people don’t like to work under their boss. In regular job, someone will give you task and you need to fulfill them. You cannot choose the work which you like the most. But in freelancing you are your boss. You can choose the work which pleases you the most. You can decide which work you want to do and which you don’t want to do. So there is work freedom in the freelancing world.
- All the profit are yours: The biggest advantage that comes with freelancing is that you keep all the profits. In the routine job of 9 to 5, you only get salary for your work. You cannot get the profits. There is fixed salary which you get. But this is not the case in freelancing. You get whole profits of your work.
So there are many advantages of freelancing. But every coin has two sides. So there are also certain difficulties which you will face in the freelancing business.
Disadvantages in Freelancing
- Self Motivation :Sometimes it’s hard to focus and make yourself work. Working as a freelancer you are on the risk to relax. There are many distractions that will hinder you to do the job on time and accurately. Also, not everyone can cultivate one’s self-control and be a ruler and a performer at the same time. In this case, you need to get skills of planning and organizing. This will help you to set up a schedule of communication with friends and to make your work plan. Also you will know the exact amount of work that you are able to process without compromising quality. (Link to videohttps://www.youtube.com/watch?v=mDHWi92v9X8)
- No Work – the risks remain without money and work. You must be prepared for the difficulties and understand that orders can not be regular. There is also a likelihood that the client will refuse to pay at all!
- Late Payment: When we are doing regular job at that time our salary will come on fixed date. So there is a security of salary. But there is not such security available in case of freelancing. You may find some clients who will not give you payment on time. So you need to be careful and you need to be sure that if they don’t give payment on time what will you do.
- No extra benefits: In regular job, there are lots of extra benefits like sick paid leaves, health insurance, paid vacation etc. but if you are doing freelancing then you will not get such benefits. Here you need to make sure that you charge more and do lots of work so that you can take proper break. Also you need to define your charges such a way that you can match your previous salary with freelancing income.
- More tasks: If you are a freelancer then you are responsible for your growth. You need to work hard. There are many task such as advertising, marketing, billing comes along with the freelancing work. So you are responsible for all this tasks. You need to communicate well with the customers and find new customers also.
- Inconsistent case flow: There are some bills which you need to pay on time. The bills like food bill, rent, insurance etc. This will not adjust according to your case flow. If you are doing job then you can be relaxed about your salary. But if you are doing freelancing then you need to get consistent client and maintain your work flow in order to pay your bills.
Here I am giving you some general tips so that you can prevent from any problems. So follow the points before you start with freelancing business.
- Always check the instructions and make sure that the client understands that he wants.
- Save screenshots of your correspondences with the buyer, which will help you to resolve a dispute, if necessary
- If you do not have any account on freelance website’s, than use PayPal and ask for an advance payment. With PayPal, you will always be able to defend your rights!
The freelancing is not limited to your country only. You get clients across the globe. There are enormous advantages of this. But there are few problems which you will face while doing freelancing. Some of the problems are as listed below with their solution.
- Different Time zones: This is very common problem you may face while dealing with clients from various country. When you and your clients are living in different country at that time this problem arises. The problem will be like you and your client don’t be able to communicate in day time.
Solution: You should have mutual understanding with your clients to overcome this problem. You both need to choose the time which both can prefer. Like if you are having 8 AM and your client is having 5 PM in evening then this can be preferable time to discuss the ideas and work.
- Currency Difference: The second common problem is currency difference between your country and client’s country. Many of the freelancing business works on US dollar so you don’t need to deal with many currencies. But the rate of US dollar varies every day. Sometimes it varies up to 10%. So in a big project, you may lose good amount of money with this variation of US dollar.
Solution: To solve the above problem, you can specify the price of the US dollar on starting of your work and make sure that you get the same price while payment. By this way, you can prevent lose.
- More Work: As a freelancer, you are responsible for all your work. You need to deliver your work on time. The work should be top notch. Along with work, you need to do lots of marketing and interaction with various clients.
Solution: To overcome above problem, you need to maintain proper work flow of yours. You need to give your best. First you should list all your strength and weakness and then start working accordingly.
So as of now we have understand the advantages, disadvantages, problems and their solution about freelancing. Now it’s time to understand some of the point which you should remember in freelancing.
- Work from home: You need to work from your home only in freelancing. At your home, you don’t have your colleagues with you. You may feel lonely. So it is your job to be motivated and keep working.
- Learn how to create your schedule: This is very important in freelancing. Because here no one will help you. You need to do all the work. So without proper schedule it is hard to get success in freelancing.
- Plan for future: Suppose your current project will be finished in September than you need to find the client who will ready to work with you after September. So always plan for future and work accordingly.
- Ready for Health issues: This is again more important point to remember. “Health is wealth” so If your health is not good then you cannot do any work. So plan for those days also.
- Project Pricing: Project Pricing is really an art. The price should be such that the client will automatically come to you and give you a project. While pricing your projects make sure that you don’t give such a low price that it will create difficulties for you.
- Try to get more from clients: Always try to provide your work in package. This will help you in long run. Additionally, you can provide extra fast delivery to your clients to earn more.
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Popular websites for freelancing
- Upwork.com: This is the best marketplace for anybody whether he is beginner or expert. It accommodates each and every types of project which ranges from long or short term projects. It has nine millions freelancers and four millions clients. For any kind of project Upwork will deduct 10% to freelancer. The payment is done through PayPal, credit card or bank transfer. First you need to sign up in Upwork and then fill the profile of yours. While filling the profile you should include all your skills and work experience. If any client finds your profile attractive, they will contact you.
- Freelancer.com: This is the biggest freelancer marketplace on the web. Here you can also compete with others and if your bid is of low price then you can win the competition and get the work from client. The more your experience the more you will get success here. It offers work in various options including project based job, hourly job and contest. Your skills are very much important to win the contest at freelancer.
- Fiverr.com: This marketplace works on $5 principal. Here the seller offers their work in terms of gig. Each gig starts from $5 and go up to $50 or even more. In Fiverr, you can also offer your work in package and charge more. Fiverr is the best for beginners. Fiverr will deduct $1 per $5. If you want to earn more from Fiverr then you can provide extra services or extra fast delivery of the work and earn more. The customer will give you feedback after work completion. So by that way, you get the ratings. The more the ratings the more you attract the customers.
- Peopleperhour.com: This site is best for you if you are looking for designer, SEO specialist or web designer job. This is UK based company which provides a great place for buyer and seller. You can get your money in dollars if you want. Once you complete your work, you need to send invoice to your client. This website will cut 15% commission for first 175 pounds. You can send at max 15 proposals per month to any clients.
- Guru.com: This site will display all your past experience, reviews and how much you have earned from that site. So the buyer will take a good decision depends on his need. Guru has 1.5 millions freelancers on their platform so the client will always looks for the good profile. So if your profile is good then there are high chances that you can earn well from guru.
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So now I am sure that you guys are ready to create your account on one of the above stated website and start your freelancing business with them. So I am giving you some of the video tutorials which will help you to create a professional account with those marketplaces.
- See this video to create a Best and Professional account on Fiverr you can refer this video tutorial. In this tutorial, each and every step is explained clearly. The best thing about this video tutorial is it is for the most trusted website and by this you can create a professional account on Fiverr.
- See this video to create a professional account on Upwork one should go through this tutorial. By this tutorial one can easily get the idea of how to create a good account on Upwork. The process of account creation is described in very easy way in this tutorial.
Tips to promote your account on the freelancing websites:
- Define your target market: The first step for promotion is to search and define targeted market. There are various categories on the freelancing website. You should start with those categories in which the competition is less and demands are high. So you get more chances to get work.
- Set goals and deadline: Once you define your market, then you should set the goals and deadline. The goal should be realistic and attainable. Try to achieve goals with higher satisfaction from your clients. The more your client satisfied with your work the more work you will get from client.
- Create values: This is the best for longer time. To promote any kind of business you need to create your values. The more you work the more value you create. By this value, you can attract new customers and get more work flow from them.
- Client Relationship: Once you get some client, and then try to build a good relationship with that client. Finish your work on time so that the client will satisfy with your work. So there are high chances that the next time that client will again contact you. Try to be in touch with your regular clients.
- Social media: The social media will help you to promote your business well. Create a professional profile on all the social media and promote your business there. You can participate in some of the good groups of freelancers and take part in the discussion for more promotion.
So as of now you have a sound knowledge on each and every point about freelancing job. The best way to start with this business is to make a list of your strong point and then try one of the above marketplaces once. Create an attractive profile which includes all your skill and experience. Try to provide more than client wants so by that way you can create a good impression. Always try to create good reputation in the beginning and maintain throughout your career at any freelancing marketplace. There are various pro and cons of freelancing so before you start it think twice about it. If you are face its cons and disadvantages then you can go with freelancing business.
If you like this post then do share it with your friends and help them to create their account on freelancing websites and help them to earn from them. I would like to hear your view related to freelancing via comments. So feel free to comment.