How to become a successful entrepreneur as a freelancer?

Becoming a successful entrepreneur is a dream for most of us, but the issue we have is we do not know where to start. Freelancing is one such tool if properly used can help you achieve the goal.

Simply put, whatever your intentions are for freelancing, always stay true to them. The reason is simple too; you are alone most of the time if you are a freelancer. Thus, trying to keep your sanity and happiness is a must.

To become a successful entrepreneur without much initial investment, freelancing is the way to go. However, you have to be smart about it. Entrepreneurship is not just about your talents in your field of work but also it is about the way you socialize and affect the people around you, in general.

Entrepreneurs as freelancers do not always have the great time that we all envision before working as one. We believe the freedom and the flexibility of schedules will last forever. However, with a growing need for money, we will most definitely lose the time that we so badly craved. You are literally trading time for money.

There are ways to attract clients and there are ways to keep them. First one is simple; you need to advertise. No matter how talented you are, if people do not know about it; it is almost like it doesn’t exist. So advertise and find clients. Keeping them happy is a matter of your work ethics and quality of work

Learn as you go along, learn about the future difficulties from people who have already experienced them in the past. Learn from your past and never repeat them.

Become a successful entrepreneur by freelancing

Becoming a successful entrepreneur by freelancing is doable and it has been done before. Freelancers help you to become successful entrepreneurs without much initial investment.

From electronics to IT, to Creative writing, freelancers can cater to almost every field of employment in the world. So, you can work on a variety of topics. We aren’t trying to deceive; we know quite well the topic read ‘how to become a successful entrepreneur as a freelancer?’ Thus, let us get into the details of what was promised. To become an entrepreneur, one needs technical skills but more importantly one needs social skills.

One needs to get the best out of people who work for him, and also develop enough trust in the employee’s skills to deliver the work on time and also maintain the quality. Being an entrepreneur without any initial cash is hard, and that is what you are trying to do by using the freelancer. The most important step is to find what your strong suits are. Ask yourself what jobs you can do better than most people.

The reason is simple, you need to have enough technical skills to realize the quality of work done for you by your employees.The next step is to simply try to win as many bids as possible in the field of your expertise. Then you can delegate the work to other freelancers. It sounds simple, but there are a few ground rules that need to be taken care of when you want to be an entrepreneur.

Where do I start?

It is simple; you cannot be two things at once. You cannot be a freelancer and an entrepreneur, as well. Most of us would like to believe as freelancers, we are entrepreneurs in our right. There are many boxes we can tick off in what is the definition of an entrepreneur being a freelancer.

We are our own bosses, even we are a freelancer and an entrepreneur. Yes, but that doesn’t categorize a freelancer completely, as an entrepreneur. It depends on what your job description entails you to do. Most of the freelancers have the advantages of the entrepreneurs, like the flexibility in timings and vacations.

However, if you call yourself a freelancer then naturally anxiety is a part and parcel of the job description. You do not have the job security and cash flow which would have been possible, if you were an entrepreneur.

Why become an entrepreneur?

An entrepreneur is someone who takes the risks and also reaps the full benefits of his venture. In other words, you play with risk with the reward of complete profits if you do win the game. As a freelancer, the risk you take is minimum and the work you do for yourself can never earn the money you can earn if you are an entrepreneur.

You can never fully call yourself an entrepreneur if you work for yourself. If you, however, choose to work yourself, you do not earn the money, you deserve. There are ways you can improve your finances as a freelancer by taking up additional projects. However, there is a drawback, known as time. You can only work for a certain number of hours a day. Thus, you never can reach the full potential of your earning capabilities.

What needs to be done to shift from a freelancer to an entrepreneur?

There are risks involved when you want to shift to a full-time entrepreneur. You will, however, reap your rewards if you do it correct and follow a few simple steps.Always remember you cannot be an entrepreneur and a freelancer at the same time. So make your mind up before you take any further steps.

The issue is not finding employees but to find clients who would provide you with a constant source of work. This is the biggest issue when you want to shift from freelancing to entrepreneurship. So, first, we need to address the issue of finding your clientele.

How can you attract clients?

This is a question which can be answered with a little hard work and smart thinking. However, to make it simpler, we have provided you with a few guidelines.

  1. Let your work market for you. You should always start off with clients you have previously done work for. If you have no prior experience, then do the work, at low costs initially. Nothing markets you better than good work.
  2. Advertisement is a must for any business, and you are an entrepreneur so, it is as important to you. However, do not start spending money you do not yet have. Instead, look to advertise to people who are around you, like your family and friends and acquaintances.
  3. Be a part of organizations that cater to your skill set. This is a great way to find out about the work that is being done in the field currently and where you can find it.
  4. This idea must be sounding too drab for most of you. But, joining a club such as the Rotary club has its own advantages. You are not joining them to socialize and meet people, instead you are joining them to advertise your business.
  5. Create a website, if you are not proficient in creating one, then hire somebody to do it for you. This can be looked at as an interview too for the freelancer you have just hired.
  6. Volunteer and be social in your local community. Everything is the good advertisement if you know how to advertise without sounding too prudent.

What is next for me?

Now, that you have learned how to build your clientele, you have to notice something. Every step in the topic ‘how can you attract clients?’ takes a considerable amount of your energy and time. Thus, it is often advised that you hire someone to do the most technical work and you carry out the human management and the other grunt work. Of course, it is better to start off as a lone employee, but as you build your clientele up, working alone will neither produce the quantity or the quality of work.

You are in the field of freelancing because you want to follow your heart. You could have worked for anyone else with the talent you have, but you chose this. You should always remember the above statement. Since the rejection is a part and parcel of freelancing, you will most probably be rejected quite a few times before you land your first project, so never lose faith.

What can you do once you built up a clientele?

The first and foremost thing you must remember is that you are an entrepreneur now and not a freelancer. So, think and act like one. Your job as an entrepreneur now shifts focus from the actual technical work to the most social side of work.

  1. Keeping your clients happy. This is your duty now, as you have made a promise to deliver quality work in a certain time constraint. The more the number of happy clients, the more future clients, you can expect.
  2. Keeping track of your projects, the past and the present ones and even the future projects. You need to get more organized, it is that simple.
  3. Checking the progress of your employees. A little trust helps you, but complete and unquestionable trust more often than not, destroys you. Thus, always check the work of the work you have delegated.
  4. Maintain good and transparent accounting. You can either learn it for yourself or you can hire an accountant depending on the money, you are earning.
  5. Keep your employees happy and satisfied. You will learn to keep a few freelancers who have worked projects for you. If they are happy to stay with you a little longer, then keep them and try to keep them for the longer run.
  6. You should always try to build your clientele. Make them advertise for you. Do not ask of them, but let the work you do for them advertise for you.
  7. This is important. As you build your clientele, you will also increase the complexity of work. So, try to draw a contract to protect the work you have done and to make sure you get paid for it. You can learn to do this from other freelancers or simply hire an attorney to draft a contract for you. A little precaution is always better.
The problems you face once you are knee deep in it.

You will likely encounter many day to day issues, such as a client not being happy with the work, or an employee asking for more money. But these are problems need to be solved on a day to day basis too. However, there are few issues and problems you realise after you are involved in it.

  1. You are alone most of the times. No one predicts this. Everyone assumes that friends and family are enough to make you feel you are part of something. But, the truth is all those random people you see at work actually help you not feel alone and lonely.
  2. The lack of discipline or self-control can destroy what you have worked for in a matter of days. You will have more time initially, but once you have established yourself it will be foolish of you to expect the same free time and working hours. It is just folly to not adapt to the situation.
  3. You are a freelancer at heart, so your work will come from clients from all over the world. So, your working hours might get weird and hectic as you create your business.
  4. You are a citizen of your country, and paying taxes is your duty. However, it is tougher to file your taxes. You have to maintain a good record of all the projects you have worked on and the keep track of all the payments you have received.

Conclusion –

Freelancing is a viable and a very profitable course of action. That is proven by many people who have followed their heart and yet made enough money to put food on their tables. Most often, freelancers join the line of work because they want to create more time for their pet project. In most cases, the pet project stays in the background.

 

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