5 common mistakes to avoid when freelancing!
A lot of people aren't able to live the freelance life because of these common mistakes.
Freelancing isn't a 21st-century thing. We have had plenty of freelancers back in the '80s too. However, the numbers are increasing rapidly of late, thanks to modern innovations. It is estimated that at least 40% of the workforce will be freelancers in the coming few years.
When robots and AI are about to take your jobs away, freelancing does seem to be a good option. If you do choose to be a freelancer, the whole process of freelancing becomes a lot easier when you know what you need to do right from the start. A key part of that process is knowing the common mistakes that freelancers do and avoiding them. Here are some of those mistakes -
Accepting every project - Accepting every freelance project that comes your way is probably the most common mistake. More clients = More projects = More Money? Wrong. Your time is limited. By accepting every project that comes your way, you will get stuck doing work you don't like for people who treat you like a commodity and pay you peanuts.
Relying on online job boards - Only 6% of freelancers think online job boards are an effective way of finding new clients. The problem with online job boards is that it is not personal or one-on-one. You are competing with several other freelancers who could possibly be all around the world. It reduces your chances of getting the project. It could also mean competing against others who set lower prices. Referrals, word of mouth, cold-calling or emailing, and your personal/professional network will offer you greater chances of landing clients.
Accepting low pay - New freelancers often accept low rates, either to build their portfolio or to compete with freelancers from across the world who set lower prices. When trying to build a portfolio, avoid doing free work, if you work for a lower rate initially, it is all right. Do remember that, if you continue accepting lower pay - you are undervaluing yourself. You will not earn enough money to sustain your freelance business for a long period of time.
Setting wrong prices - Avoid trying to beat your competition by setting lower rates so as to land more clients. There will always be someone offering a lower price than you. You need to set prices based on your experience, industry standards in your location, and more importantly, based on how much you need to make to sustain and grow your business. Similarly, you cannot set prices too high without providing equivalent value to your clients.
Giving up - Probably the biggest mistake you could do as a freelancer. Granted that freelancing is not meant for everyone. But, successful freelancing takes a lot of time - there is no immediate success. Also, you need to be smart about your finances - so that you can cover up periods of less work. Continue building quality work, upskill yourself, and one day you will look back and notice the huge amount of progress you've made.
Related - 6 ways to avoid side hustle burnouts! Secrets of a thriving Side Hustle! 8 ways to market your side hustle!
Ready to dive into the world of freelancing? The Ultimate Guide To Freelancing And Remote Work is a guide to help the user in being an independent and effective freelancer or remote worker.
This book will help you in -
Understanding the approach to being a freelancer.
Learning the type of freelance that works best for you.
Knowing how to set up your freelance business.
Setting prices and ensuring you get paid.
Learning the different types of clients and how to effectively deal with them.
Managing all your expenses and running a successful freelance business.
Contract Template that you can use to create contracts with your clients.
List of over 30 websites to help you find remote work.
List of over 40 Facebook Groups to help you find freelance and remote work.
Printables and other additional resources to help you get up and running.
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