Freelance Business – Prepare for the 5 main Challanges
One of the best professions online and constantly growing industry is that of Freelancing. Freelancing industry, today, is attracting many professionals as well as many individuals from all over the globe. Though being a freelance may sound to be easy, it is actually not a very easy job in today’s time. Being a full time freelancer is a challenge for anyone. Though there are some challenges that you can handle, there are others that you can’t.
Even though Freelancing business is a challenging and a difficult job, you shall focus only towards attaining success. If you are a beginner in the world of freelancing, you would be looking around different websites looking for some tips and some hints.
Let us focus on some of the challenges that Freelancers face.
1) Unable to Maintain Discipline
Whether you are a freelancer writer, web developer, graphic designer, or any other professional, you are going to have full control over your time. You would not be having any boss to tell you when to report to the job or when to start working. You have all the flexibility. While the corporate people would be in a rusk to get up quickly and reach their workplace, you are free to sleep.
The best part about being a freelancer is that there is no rule book. But, it can also be bad for your freelancing business if you are unable to maintain some discipline. The recipe for failure is simple. Mix some indiscipline with a lack of focus and you fail in your business.
So, make sure that while using your flexibility to your advantage, you maintain your discipline.
2) Being Lazy and Procrastination
In the corporate world, your boss tells you to do a task and you fulfill the demand. In this way, the things keep moving smoothly. As you would have no alternative than to listen to your boss, you quickly make a habit of doing things as and when they come. You cannot give laziness or not having the mood as an excuse.
However, as a freelancer, you do not have anyone to report to. So, you can easily postpone your work. It is so luring to have some rest when you are not in the mood to do the work. There are several friends of mine who have been a victim of procrastination.
Try to keep short deadlines for all the tasks that you have to do and finish the work well within the deadline. The more you procrastinate, the more losses your business will have to suffer.
3) Improper or no Time Management
As a beginner in the freelancing world, most people are very passionate and enthusiastic about making money online and getting their hands on the best paying projects. They end up winning a good number of projects and then suddenly, they are daunted by the deadlines. They are unable to do proper time management.
You have to keep in mind that though this business gives you all the freedom you need, there is one thing still common with the corporate world. And Guesses? Well, you still have the employer. Yes, a real one. They expect quality work from you and that too, on the set deadline.
Have you heard of Pareto’s Law? That 80% of the world’s resources are held by 20% of the people. It is true in case of Freelancing too. 80% of your freelancing jobs (the good ones) come from long term contracts. And if your employers see that you are not doing your work on time or are showing some kind of laziness, you lose on the long term contracts.
4) Improper Project Management
Try to make sure that you select only the projects that you think are suited to you. There have been many cases when the outsourcers expect you to finish the work in too little time and you try to work as much as you can, but you still cannot finish the job because the deadline is too short. Try not to take such projects.
5) Not properly setting your rate
As you are starting out, its ok to set a slighty lower rate than your competition. But, you need to make sure that you raise your rates so much people learn to value your heard work. Also, you have your own expenses. Having a good rate would help you pay the expenses as well as to pay yourself.