4 Costly Mistakes 70% Freelancers Make

4 Costly Mistakes 70% Freelancers Make

The UK has 2 million freelancers as of August 2018, and the number is still rising.

However, while self-employment remains an appealing career platform, freelancers can find it difficult to establish themselves in a crowded market. Indeed, freelancers tend to provide their work to other people who, in turn, sell the pieces further such as freelancing copywriters or web developers. In this constellation, they can often feel trapped on a permanent contract basis with companies without gaining any of the security and HR benefits of an employment contract. Indeed, freelancers can often forget that they have a real opportunity to make changes to their relationship with their clients. There are precisely four mistakes that separate a vulnerable freelancer from someone who maximises their independence for profit:

They don’t establish a profitable rate

The typical route to becoming a freelancer is to find a company that requires your services. In this situation, the company is in charge of setting your fees as you apply to their freelancing position. To regain control and determine profits, the freelancer needs to develop their portfolio and service offer, establishing sufficient and reasonable hourly rate for their skills. Researching what other freelancers, and especially self-employed professionals in your niche charge can be a helpful start. However, you need to consider your outgoings to, such as rent, bills and other expenses.

Their web presence lacks professionalism

A freelancer employed by a company doesn’t need a web presence. A LinkedIn profile is often all it takes to get noticed. Moving into the self-employment zone requires a professional and informative website that displays your services, your skills and, naturally, your rates. But your website should also behave like a business site, in other words, you want it to load quickly – check this link if you’re struggling with WordPress load time –, to be secure, and to showcase quality imagery and content. The homemade look of a small blog doesn’t work.

They don’t differentiate themselves

Where freelancers apply for jobs, self-employed professionals let their clients come to them. As a result, their business model is built on effective differentiation. The strategy to move away from a freelancing career to embrace control over your independence begins with differentiating your services. Standing out from the crowd via additional skill sets or through unique experience can help freelancers to identify a profitable niche for their independent business. It’s important to be realistic and accept that to be successful you can’t adopt a one-freelancer-fits-all model!

They don’t establish their business image

More often than not, freelancers share their bank details with the company that employs them and await their pay. Unfortunately, this practice erases the need for you to create a business image. Freelancers who are on a permanent contract don’t have a logo or even an invoicing system for their clients – you can check these software solutions to create your first freelancing invoices Your independent business needs an identifiable personality, using individual visual cues, processes, and content to break away from their employer.

In conclusion, freelancers are missing out on the opportunity to seize their independence and monetise their skills. When they choose to work on a contract for other companies, they, ultimately, end up picking an employment situation without any of the HR advantages.

About author

Poppy loves personal finance almost as much as she loves her two cats, Tif and Taz.
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