The Only Tips For Making It As A Freelancer That You Will Ever Need
There is a segment of the population that believes it is hard to make it as a freelancer. However, you can make it as a freelance writer, photographer or consultant as long as you know how to play the game. Following these tips will allow you to become successful at something you love to do. Never again will you have to work for someone other than yourself.
Tip #1- It Takes Time To Build Your Brand
Even the best freelancing professionals need time to build up their brand. This means you need to take time networking with businesses in your community. Take time networking with other freelancers in your area. Start a blog that you can use to gain more exposure for yourself. Post a portfolio of your work that potential clients can look at. If you don’t have a portfolio, you should be creating one. Your career will never take off if you don’t invest time establishing yourself as a competent expert in your field.
Tip #2- Don’t Give Your Work Away For Free
The biggest hurdle that freelancers have to overcome is setting a fair rate for their work. Many businesses assume that writers and artists will accept a job just because it is offered. This stereotype is furthered when writers and other freelancers take jobs simply because it is work. No one will take you seriously unless you take yourself seriously. Part of being taken seriously is to set a rate that reflects the time and effort that goes into your work. If you produce work that is worth $100 an hour then you should be charging $100 an hour. You have the right to make a profit from your work just like any other business person. Remember, your freelance writing is potentially a very valuable skill to an online marketing company - so you should not undersell yourself.
Tip #3- Don’t Forget About Taxes
Freelancers often overlook the tax implications of being self-employed. Keep in mind that you are responsible for paying the entire portion of your FICA taxes. This is in addition to your personal income tax return. Not preparing for the extra taxes you will pay can severely cut into your profits. Businesses who will owe more than $1,000 at the end of the tax year should pay estimated taxes each quarter.If you want to save money on your taxes each year, look into becoming an S-corporation. It can help you save money each year if you are already profitable. Don’t forget that you are also allowed to deduct any reasonable and ordinary business expenses from your business income. This will lower your profit as well as your tax burden for the past year.
Being a freelancer is a great opportunity to do something you really enjoy. However, keep in mind that you will spend a lot of your time marketing and promoting your work. Failure to properly brand yourself will result in missed opportunities to make money. Financial planning is also important when you are in business for yourself. Always charge a fee that reflects your worth while also thinking about taxes and other costs of doing business.
This article was written by Philip Russell. Philip has been an online freelancer for many years and specializes in building links that help acheive top notch rankings for prime keywords. In his spare time he likes to write articles about SEO and freelance writing.