If you’re reading this article, you’re likely considering a career in freelancing or already have some independent work. Whether driven by the dream of working for yourself or desiring more flexibility in your work, freelancing can fulfill both these aspirations.
However, freelancing comes with its challenges, so you should study the freelance profession or being a freelancer thoroughly before deciding to start in this career path. Let’s explore what a freelance career is with us at Sixtygram!
What is Freelance?
Freelance is a type of independent profession that allows you to provide specific services to multiple clients without limit, instead of being employed by a single employer.
The main advantages of freelancing are working for yourself and being your own boss, being able to take on multiple clients, having very flexible working hours, and being able to work from anywhere.
There are many categories of freelance jobs today, such as content writing, web development, translation, interpretation, graphic design, marketing consulting, and more.
Freelancing can be chosen as a full-time job or just part-time work. As of 2024, freelance careers are becoming increasingly popular with no signs of slowing down.
This is due to the development of online platforms or websites designed for freelancers to find work and access employers looking for specific skills. Starting as a freelancer is easy through 7 freelance job websites. Just create your profile, fill in your skill details, attach your portfolio, and this will increase the chances of connecting with employers and creating job opportunities!
How Freelancers Work
Starting a freelance career is like establishing your own private company. Therefore, when you want to start freelancing, you should consider these methods for your benefit:
- Company registration: You should study about setting up and registering a company. When you have a certain amount of income from freelance work, don’t forget to check your income tax. Always thoroughly check financial documents and contract documents between you and your employers.
- Paying taxes: Tax payment (issuing invoices, expenses, tax returns, etc.) Once you register your company, you must file tax returns and pay taxes according to the law. Setting up an efficient invoicing and expense tracking system from day one can prevent you from sinking into chaos at the end of the financial year.
- Study health insurance or policies: Choosing insurance for freelancers is very necessary. Even if you work independently, you should receive the same safety and peace of mind as you would when working for a company. Considering paying for health, business, or special income insurance for freelancers to protect yourself from the unexpected is worthwhile.
- Opening a business account: In reality, many professions, such as independent translators, may not need to open a bank account by law. But most will need to open a bank account anyway. Separating personal expenses from wages through opening a company account or work account will make it easier to calculate business profits at the end of the year.
- Building a client list: Accumulating a client list before going freelance is the best method. According to freelance statistics, clients who receive word-of-mouth recommendations for services will have an advantage in working.
- Drafting employment contracts: Drafting your own employment contract is a legal document that you and your client should sign before starting work on new projects to prevent payment defaults, show liability, and potential legal issues. There are many free templates for issuing contracts or you can choose from here!
Advantages of Freelancing
With the increasing number of freelancers every year, many describe the decision to go freelance as life-changing. The main advantages of being a freelancer include:
- Flexibility in choosing clients or employers because independent work means working for yourself
- Keeping all profits, which is one of the best things about freelancing
- The ability to work hard in exchange for increasing your bank account balance, as you can keep all profits after taxes
- It’s up to you to decide how you want to allocate and use your money
Freelancing is a skill, like learning to play chess or paint. The more you practice and refine your techniques, the better you’ll become. If you’re considering freelancing and it seems a bit scary, know that it’s normal.
Instead of waiting for the perfect (or frankly, ideal) time to take the leap, focus on doing your homework and sequencing steps for a good start – build your client list early, get insurance, open a business account, and step into the world of freelancing. There’s no hiding it – you’ll have to work hard to excel, but when progress happens, the rewards will be even more worthwhile!
