So, you’ve finally decided to go it alone. Congratulations! You’re free, you’re the big boss, you’re doing the thing you’ve dreamed of for so long. Once the high of this epic step forward dies down, though, you have to actually do the thing.
Don’t worry this is the right time to make mistakes and learn from them. Life happens. However, the more successes you can have from the start, the better right? To help you minimize bumps in the road on this epic journey, check out the following five mistakes to avoid in your first year as a freelancer:
- Splashing Out On Things You Think You Need
Being careful with money and making savvy choices is so important in this fragile first year. Choosing serviced office suites with flexible contracts instead of a rigid one-year office rental can be the difference between crashing or thriving. The same goes for using self-storage for stock rather than a warehouse, or equipment rental instead of buying everything outright.
Being smart with your financial choices now will benefit your freelancing business moving forward.
- Allowing Yourself To Burn Out
Now that you are responsible for your destiny, you will feel the weight of the world settle onto your shoulders. You will feel you should be working on your business every waking hour. You will accept jobs you do not have the time to do. You will potentially allow yourself to burn out.
Whilst a level of hard work and sacrifice is necessary, burnout paves the way for bad mental and physical health. You are the business, which means, as hard as it is, taking care of yourself has to be a top priority.
- Comparing Yourself
One of the most dangerous mistakes any freelancer can make is consistent negative comparison with other freelancers. You may ask yourself why you’re not earning as much as others, or why you don’t have as many clients.
Comparing yourself is normal, and taking inspiration and tips from others is kind of great. The catch is, you need to ensure you’re not beating yourself up. Use the success of others as a form of inspiration, not as a method of self-flagellation.
- Charging Too Little Or Too Much
How much to charge for your services is a tricky decision to make. Pitch too high and you risk losing clients, pitch too low and you don’t make what you deserve, putting you at risk of becoming the busy fool.
The most important thing to remember is that you must not undervalue yourself. Clients will try and barter for lower prices, and of course, you should be amenable to some degree if it benefits you. However, it is important to think carefully about your freelance service costs because that’s how you are going to make a living now you can’t afford to get stuck in a cycle of undercharging.
- Forgetting Your Why
Why did you start freelancing? For more freedom? Time? Money?
Try to have a reminder of why you started in front of you (a picture or inspirational words as your desktop, for example). This will ensure your motivation is always front of mind, so you don’t lose sight of what inspired this journey.
When you feel fried, remembering your why will help push you through. It will also help shape the way your business grows, ensuring you’re always building the kind of freelancing business that truly serves your wants and needs.
By following the tips above, you can have fewer bumps in the road in these early stages, working towards a sustainable, successful business that will only go from strength to strength.
I’m a 20-something stay-at-home mother and wife. I have an amazing husband, a beautiful daughter, two loving dogs, and a lazy cat. I wouldn’t change my life for anything! I love to read, listen to music, cook and blog!
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