Are you thinking about going freelance?

Posted on: October 12th, 2010

If you’re thinking about going freelance but haven’t yet taken the plunge, here are some questions to help make up your mind.

  • Are you a self starter who is also self disciplined and self motivated?
  • Can you meet deadlines without someone prodding you into activity?
  • Are you able to work on your own without the interaction and banter of colleagues around you? (If you answered ‘no’ to this, you could always consider working on freelance projects where you’re based in a client’s offices – I know quite a few designers who work like this. Or you could rent a desk from a company with spare space on its hands.)
  • Can you handle the fact that you won’t have a regular pay cheque paid into your bank account on the same day each month?
  • Are you prepared to chase clients for money they owe you, if they are slow in paying you?
  • Will you enjoy the freedeom to set your own timetable, without having a boss to report to?
  • Are you able to wear several different ‘hats’ during the course of a day? (As a freelancer, you’re also the marketing manager, the administrator, the purchasing manager, the sales department and the decision maker.)
  • Will you be able to handle times of ‘feast’ when you’re super busy and times of ‘famine’ when work (and money) are thin on the ground?
  • Are you good at budgeting and managing money? (You’ll have to put money aside for tax bills, for VAT (if you’re registered) and for your buffer fund when you get ill or when times are quiet.)
  • Are you unfazed by the prospect that it will be up to you to find clients?

If you replied ‘yes’ to most of these, it’s likely you’ll be suited to the life of a freelancer. If you responded ‘no’ to most of them, then it’s probably best to keep your day job.

If you’re already freelance and you answered ‘no’ to any of the above questions, what do you do to you get around the issue? For instance, not everyone can wear every single ‘hat’ that’s needed to run a business. That’s why I outsource the tasks that I know a) I’m no good at (techie stuff) or that b) I don’t enjoy doing (cold calling).

Related posts: 10 Advantages of Being Freelance

10 Disadvantages of Being Freelance

2 Responses to “Are you thinking about going freelance?”

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