Comments on: A Beginner’s Guide to Freelancing http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/ Common sense advice on money saving tips, how to get out of debt, high interest savings accounts, cd rates, money market accounts, mortgage rates, money management and more. Wed, 19 Jun 2013 03:44:32 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Greg Miliates http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-1943902 Greg Miliates Mon, 31 Oct 2011 15:30:30 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-1943902 Creating your own business--since that's what freelancing is--can be extremely empowering, to the point where you don't even need to worry about getting a "real" job. If you're successful, you'll likely realize that there are too many downsides to a traditional day job (for example, the myth of job security). Running your own business isn't easy and isn't for everyone, but can build confidence and competence, and lead to far bigger successes than a day job. I truly think that freelancing/consulting is a great business model--either as a side business or with the intent of building it into your full-time endeavor--because a freelance/consulting business has:    -->very low start-up costs,    -->flexible hours,    -->a high hourly pay rate, and    -->you likely already have the expertise to get started. In addition, consulting is a simple business model that let's you learn the ropes of running and growing a successful business. I started my own consulting business in January 2007 while working full-time and with 2 kids.  I gradually built up a list of a few dozen clients, so that I have a steady workload and income.  It can take a while to get things rolling--as with any business--but the hard work can definitely pay off. Since I started my consulting business, I've QUADRUPLED my former day-job salary, work less, have a lot more flexibility, and actually have LESS stress than I did with a day job. You can check out an interview I recently did where I talk about how I made the switch from employee to consultant, and where I talk about some of my initial fears & doubts, and give actual income and rate numbers: http://www.startmyconsultingbusiness.com/how-i-made-the-switch-from-employee-to-consultant. Greg Miliates http://www.StartMyConsultingBusiness.com Creating your own business–since that’s what freelancing is–can be extremely empowering, to the point where you don’t even need to worry about getting a “real” job.

If you’re successful, you’ll likely realize that there are too many downsides to a traditional day job (for example, the myth of job security). Running your own business isn’t easy and isn’t for everyone, but can build confidence and competence, and lead to far bigger successes than a day job.

I truly think that freelancing/consulting is a great business model–either as a side business or with the intent of building it into your full-time endeavor–because a freelance/consulting business has:
   –>very low start-up costs,
   –>flexible hours,
   –>a high hourly pay rate, and
   –>you likely already have the expertise to get started.
In addition, consulting is a simple business model that let’s you learn the ropes of running and growing a successful business.

I started my own consulting business in January 2007 while working full-time and with 2 kids.  I gradually built up a list of a few dozen clients, so that I have a steady workload and income.  It can take a while to get things rolling–as with any business–but the hard work can definitely pay off.

Since I started my consulting business, I’ve QUADRUPLED my former day-job salary, work less, have a lot more flexibility, and actually have LESS stress than I did with a day job.

You can check out an interview I recently did where I talk about how I made the switch from employee to consultant, and where I talk about some of my initial fears & doubts, and give actual income and rate numbers:
http://www.startmyconsultingbusiness.com/how-i-made-the-switch-from-employee-to-consultant.

Greg Miliates
http://www.StartMyConsultingBusiness.com

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]]> By: spilt needles http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-12265 spilt needles Mon, 30 Oct 2006 18:46:45 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-12265 I've been a freelancer all my working life (16 years and counting), and this guide is spot on. That said, I'd like to add that setting aside a significant chunk of time and money for your training and any required qualifications is very important as well. It's also a good idea to take an occasional class or workshop that's only partially relevant to your line of work - it broadens your skill set and gets you to meet people outside your own professional community. Like Mr. Gyford, I hate marketing, and am bad at it myself. Fortunately, at this point in my career I don't need to do that much self-promotion anymore; word of mouth from my network of clients and colleagues has been more than enough to keep me busy. The trick is to do whatever it takes to make yourself a rare commodity in your field. When I was starting out, being a full-time freelancer gave me an edge because most of my peers were doing this kind of work as a side job; my clients liked the flexibility and faster turnover that I could offer them, and eventually referred other people to me. (I did end up working seven days a week more often than I cared for, but like I said, whatever it takes.) These days I maintain that edge by constantly improving on the quality of my work beyond what clients normally demand. One last thing: being a freelancer is like running a company on finite resources. An entrepreneur can expand their business to keep up with the demand; as a freelancer, on the other hand, there's only so much that you can take on. So you better make it count! I’ve been a freelancer all my working life (16 years and counting), and this guide is spot on. That said, I’d like to add that setting aside a significant chunk of time and money for your training and any required qualifications is very important as well. It’s also a good idea to take an occasional class or workshop that’s only partially relevant to your line of work – it broadens your skill set and gets you to meet people outside your own professional community.

Like Mr. Gyford, I hate marketing, and am bad at it myself. Fortunately, at this point in my career I don’t need to do that much self-promotion anymore; word of mouth from my network of clients and colleagues has been more than enough to keep me busy. The trick is to do whatever it takes to make yourself a rare commodity in your field. When I was starting out, being a full-time freelancer gave me an edge because most of my peers were doing this kind of work as a side job; my clients liked the flexibility and faster turnover that I could offer them, and eventually referred other people to me. (I did end up working seven days a week more often than I cared for, but like I said, whatever it takes.) These days I maintain that edge by constantly improving on the quality of my work beyond what clients normally demand.

One last thing: being a freelancer is like running a company on finite resources. An entrepreneur can expand their business to keep up with the demand; as a freelancer, on the other hand, there’s only so much that you can take on. So you better make it count!

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]]> By: Bryan C. Fleming http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-12255 Bryan C. Fleming Mon, 30 Oct 2006 18:05:54 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-12255 BinaryDollar - Don't worry about charging too much. You'll probably start out on the low side to get clients. Then you can slowly increase your prices. If you're doing great work they won't care one bit.... - Bryan BinaryDollar – Don’t worry about charging too much. You’ll probably start out on the low side to get clients. Then you can slowly increase your prices. If you’re doing great work they won’t care one bit….

- Bryan

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]]> By: NLG http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-12252 NLG Mon, 30 Oct 2006 17:46:58 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-12252 <b><a href="http://www.escapefromcubiclenation.com" rel="nofollow">Escape from Cubicle Nation</a> </b>has a lot of excellent advice for the would-be consultant, entrepreneur, etc. Escape from Cubicle Nation has a lot of excellent advice for the would-be consultant, entrepreneur, etc.

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]]> By: Binary Dollar http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-12241 Binary Dollar Mon, 30 Oct 2006 16:49:10 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-12241 I have a full-time programming job and I find it hard to "switch roles" to a totally different mindset and programming project. Plus I'd be afraid to charge too much. I have a full-time programming job and I find it hard to “switch roles” to a totally different mindset and programming project.

Plus I’d be afraid to charge too much.

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]]> By: prlinkbiz http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/comment-page-1/#comment-12238 prlinkbiz Mon, 30 Oct 2006 16:17:06 +0000 http://www.getrichslowly.org/blog/2006/10/30/a-beginners-guide-to-freelancing/#comment-12238 I think that article about becoming a consultant was for the most part very good. Your skills are important- but your people skills are what will make or break your business. I highly recommend "How To Win Friends and Influence People", as well as "Selling to the Affluent" as communicating, networking and people skills books. I know for me personally, taking on too many projects was a bad thing because my focus was diluted. I also disagree that if you are booked solid, your rates are too low- it might just mean you are good- just make sure you are getting paid well for your time. And when possible pick up checks personally or have them directly deposited so you don't have to fuss with the mail or "it's in the mail" people. I also disagree that long term clients are best. I had ot let my first client go although they had been with me for a long time, I had advanced beyond their pay-range and they had time consuming-go nowhere projects that were not a good fit anymore. If you can communicate well, and do a great job, yo will always have business. The key is learning to then value your time and continue cultivating your skills, and then turn as much as you cna into systems, and train people to do what you do, so you can work your way out the business, and sell it or have an asset that works for you. LOL My two cents. I think that article about becoming a consultant was for the most part very good. Your skills are important- but your people skills are what will make or break your business. I highly recommend “How To Win Friends and Influence People”, as well as “Selling to the Affluent” as communicating, networking and people skills books. I know for me personally, taking on too many projects was a bad thing because my focus was diluted. I also disagree that if you are booked solid, your rates are too low- it might just mean you are good- just make sure you are getting paid well for your time. And when possible pick up checks personally or have them directly deposited so you don’t have to fuss with the mail or “it’s in the mail” people. I also disagree that long term clients are best. I had ot let my first client go although they had been with me for a long time, I had advanced beyond their pay-range and they had time consuming-go nowhere projects that were not a good fit anymore. If you can communicate well, and do a great job, yo will always have business. The key is learning to then value your time and continue cultivating your skills, and then turn as much as you cna into systems, and train people to do what you do, so you can work your way out the business, and sell it or have an asset that works for you. LOL My two cents.

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