Have you ever thought of boosting your career by going beyond the bounds of regular employment? What are the odds in case you want to deviate from the 9-5 jobs and follow your passion? How does it feel to be your own boss? The road to passion is not easy, and several doubts will cloud your mind in the course ahead. If these words mirror your mind, then it’s the right place you have arrived. The article will help you to avoid the common mistakes that freelancers make while following their passion.
The modern-day world is in a state of constant flux and the traditional trend of regular employment is taking backseat making way for enterprise projects and innovative business endeavours to take the centre stage. The word ‘work’ is no more a compulsion but it has gained new meaning with the gradual passage of time. ‘Passion’ is something that is replacing the boredom of ‘work’. Expert professionals are gearing up for prospering in this evolving model of employment of that of a ‘freelancer’. Financial independence is empowering for sure, but it is not immune to certain challenges. It is imperative to avoid the common mistakes that freelancers make in general. Rookie freelancers have the tendency to misunderstand a given situation due to their lack of experience.
Even if you are without any prior experience kick-starting your career as a freelancer is not an impossible task. The days are gone when people used to think “freelancing” as some unsuccessful profession. The millennials of the modern world are favouring flexible freelancing over monetary gains. Why is that? The Future of Work is changing over the years, bring in some new trends. The freelancers may find themselves bumping on some mistakes that must be avoided at all costs.
5. Setting unrealistic goals
As a freelancer, you are free to choose your projects and mode of engagements. You can work anytime, even on the weekends, late nights etc. But, you must be careful not to set unrealistic goals, as that can harm your career as a freelancer. One of the common mistakes that freelancers often make is to take up more projects than they can actually handle. All the projects come with deadlines. You have to execute them within a particular schedule. Failing to do so, will make your freelancer journey highly stressful and unorganized.
When you have sufficient on your plate, try to postpone or avoid taking newer projects. Committing to a project and then unable to keep your words will not only harm your reputation in business but also give rise to despair. Do not set unrealistic goals. Stick to the project at hand and complete it with utmost sincerity.
4. Lack of clarity
What kind of project have you taken up? Have you signed any contract? How much time is given to you for completing the project? What is the tax strategy? Is the project matching your expertise? You must have definite answers to all these questions. Lacking clarity can slump your business and harm your career as a freelancer. You must draw an outline of the number of hours required for the project and the respective budget that is allocated to you. Contracts are crucial as they help in safeguarding your business. Contracts must include the crucial clauses and legal policies that must be abided by the freelancer and the client company.
Lacking professional help can result in unwanted situations. Consult with professionals to bring your business in order. Bookkeeper and accountant can help you with invoicing and tax management. Delayed invoicing can be a humanly and most obvious problem that is faced by many rookie and experienced freelancers.
3. Taking up projects way out of league
One of the common mistakes that freelancers make is to take up any project that comes their way. Looking randomly for clients and projects can land you up with work that you are not good at. The very point of freelancing is to work as per your forte. Taking up random projects and ending with unsatisfactory results is one of the most common mistakes made by freelancers.
You must design effective strategies to search your desired projects and clients. In order to prosper as a successful freelancer, one must be very particular about the idea of a desired or targeted client; and working only with those who match with your description. This way, you can continue working in desired projects matching your expertise and also with suitable clients.
2. Losing work life balance
Losing work-life balance is one of the most prominent sources of stress for freelancers, both rookie and experienced. Time Management helps not only in project completion but also in maintaining work-life balance. You cannot work 24X7. You have a life, you need to live it. Taking up more projects than you can manage, a random selection of projects can result in the loss of work-life balance.
Freelancers often work from home. They can get tired and bored of working from their dining space or drawing rooms. Being glue to machines all day can slump your productivity. For maintaining agility and a semblance in life, you can change work locations. For instance, you can go to coffee shops and work while sipping your favourite latte. Maintain a schedule of your work and stick to it. The freelancing may not have the constraints of 9 to 5 jobs or delayed arrival. But, this form of employment can blur the line between life and work.
1. Faulty Quotations
Say, for instance, you have an experience of one year as a freelancer. And, you are charging Rs 10, 000 per hour. Or, for example, you are charging Rs 500 for one hour with 2 years of experience. Such kind of unreasonable quotations can hamper your freelancer journey. Freelancers must avoid making this most common mistake. Set your quotation as per your experience and job role.
If you are setting a price that is much higher than the market standards, then the clients may find some other freelancer with lower price brackets. Again, if you are quoting lower than the market standards, then it will be difficult for you to increase the quotation later on.
The booming freelancer ecosystem is definitely shaping the Future of Work. As reported by Forbes, “More and more companies will catch on, disintermediate, and go straight to online talent platforms who offer similar talent but at a much lower price point.”
Conclusion
In case you are looking forward to making your mark in this evolving employment structures, you must avoid the common mistakes that freelancers make. Experts and freelancers are onboarded by top gigs and large organizations for project execution. The organizations can relieve the burden of permanent staffing by outsourcing their workload with the booming freelancer ecosystem.
Freelancers generally work from home or their desired locations. Cushioning the freelancer ecosystem, several online platforms are working to connect them with the desired clients and gigs based on their expertise, for instance, Vedak. If you are confident about giving on-demand services, then you have just come to the right place.