Fatal Foibles That Can Flummox New Freelancers

Fatal Foibles That Can Flummox New Freelancers The younger generation has a much harder time in the present day job market than their parents did, despite (on paper) having some pretty big advantages over them. Today’s twentysomethings tend to be better educated than previous generations and despite the pervasive stereotypes that depict them as slothful, indolent and self obsessed; going into paroxysms unless they have access to their social media feed, they tend to be a hardworking and reliable bunch when given an opportunity to prove themselves. It’s proving themselves, however, that’s the rub for many young graduates entering the workforce. Even graduates who got great grades struggle to find graduate level work and all over the world graduates pour out of higher education institutions and into non-graduate low pay, low skill jobs that waste their talents. Furthermore, many employers expect entry level employees to first put in months at a time as unpaid interns. For those who don’t have the luxury of parental support, this is simply untenable. But the younger generation aren’t just staring down the barrel of a difficult job market; they’re on the cusp of an economic revolution in which the gig economy is changing the way in which we trade goods and services. In the face of an inhospitable job market, yet with living costs proving more and more challenging to even well paid graduates, more and more young people are turning to self employment as a means to earn a crust. Indeed, it’s estimated that around 47% of millennials in the workforce freelance at least in some capacity. And make no mistake, earning a living as a freelancer has some distinct advantages. It’s a way to make a living doing what you love and what you’re good at. It gives you the opportunity to hone your administrative, organizational and entrepreneurial skills as you manage your business and hustle new clients. It provides excellent networking opportunities and allows you to really take your career, your livelihood and your life into your own hand s rather than slaving away in a job for which you’re overqualified and underpaid. But in lieu of a proper retirement plan, sick or holiday pay and any sort of job security, freelancers cannot afford to simply scrape by. They need to ensure that they’re firing on all cylinders and making good money so that they can save responsibly and plan for the future. That means avoiding these working and productivity foibles which could either compromise the quality of your work, limit your income or decimate your work life balance… Going in cold The good news is that there are no shortage of businesses who are desperately in need of the skills and attributes you bring to the table who don’t have the budget to take on new staff and use freelancers to achieve the best of both worlds. The bad news is that it could take some time for you to build up your reputation and establish enough of a clientele to make freelancing sustainable. While many freelancers are always hustling for new clients, it behoves you not to quit your day job (sorry) just yet and to establish yourself as a freelancer in your spare time, scaling up your operation until you’re ready to go full time. Failing to charge what you’re worth It’s possibly the most common foible among nascent freelancers, especially those who have only recently graduated. Their lack of experience gives them a disproportionately low sense of self worth. While experience can certainly sharpen and hone your skills, your talents as they are now are still an eminently marketable commodity. Many new freelancers get a lie of the land on sites like People Per Hour and try to race their competitors to the bottom in the hopes of getting more clients. The trouble with this mentality is that the best clients are motivated by quality rather than price. Moreover, if you start off with lower rates and garner a handful of clients who reward you with more business, you will place a long term cap on your earnings as you’ll be afraid to increase your prices lest you alienate them.. Relying on “handshake agreements” When you’re starting out in the freelance game, it’s all too easy to neglect the legalities that could end up protecting you, your reputation and your budding business. While handshake agreements can and do work in the freelance marketplace, it’s important to protect your interests with contracts, especially for new clients, and send invoices which can be traced and chased. You can use any of these free invoice templates if you don’t want to start from scratch. A paper trail will not only protect you legally from non-payment or disputes, it will make you better at managing the business side of freelancing. Wasting time staring at a blank screen When you’re working for yourself, productivity is everything. Productivity can make the difference between a good month’s pay and a great months’ pay. It can make the difference between landing top tier clients and staying on the breadline. One of the biggest productivity sapping things you can do, however, is waste time staring at a blank screen. Yes, everyone gets creative block. Yes, it can be enormously frustrating. But if you try and fight through it you’ll end up frustrated or produce poor quality work that you throw out as soon as you cast a fresh pair of eyes on it. When your creative mojo abandons you, don’t be afraid to take a break. Get out of your home office, go for a walk, read or do something to relax your mind and recharge your batteries and don’t come back to your computer until you’re raring to go. Trying to race yourself to the finish line AT the same time, an equally counterproductive strategy is to try and race yourself to the finish line day after day. If you have a particularly fecund Monday and get all of your work finished by 2pm yet the following day you call it a night at 6 or 7pm that’s simply the nature of the beast. Don’t fall into the trap of trying to rush to an early finish. The quality of your work will suffer and while you may find yourself making your deadlines, you will return to your computer the next day to find a whole lot of revisions waiting for you. Steer clear of these bad habits, and a long, happy, fulfilling and rewarding career as a freelancer awaits.