1. How much can I potentially earn?

How much you can earn will depend on several factors, and it’s not just down to how much you charge but also how you charge. There’s no reason why you can’t earn more than your current salary. For many freelancers, this may be a key factor in running their own business, as there’s no limit to the amount of money you could potentially make.

However, there are other factors at play. For example, the market – your pricing strategy will depend on how much the market will bear, your location, niche and demand, among other things.

Another often overlooked factor is your capacity. How much capacity will you realistically have? This really comes to the fore with a service-based business. How many clients can you realistically take on? It sounds counter-intuitive, but you could scale too soon, and your rapid growth might mean you can’t adequately service your clientele.

You may also have other commitments, such as child care, work-life balance, and scheduled time out to consider. You need to factor in what you can realistically consistently deliver.

And this is before you do the math and work out your prices, taking into account all your outgoings, expenses, and billable hours. 

Which leads to the next question.

2. How will I deal with variable income?

The sometimes roller-coaster variable income that freelancers experience can be daunting for some, and during a slow period, it can put pressure on even the most calm, collected, and confident freelancer.

Naturally, there are boom periods, too, and some freelancers consistently make a good profit. There are ways to combat the effects of variable income, such as paying yourself a set amount each month (assuming you have income coming in), having other passive income streams, or having a buffer fund.

To weather the storm of any potential freelancer feast or famine cycle, you could consider setting up a rainy day fund when you are still employed full-time.

This is where a solid freelancer mindset and confidence that you can effectively deal with potential downtime (e.g., working on your business instead of just in it) come into play.

3. Do I have a support network?

Freelancing can be lonely, especially if you work remotely from home, so it’s crucial to have the right support around you when you start out.

In addition to the support of family and friends, you might also want to build up a network of business buddies—people who understand the ups and downs of freelancing.

These relationships are often built up over time, but it’s worth considering putting the feelers out before you go freelance. Contact successful freelancers who have been freelancing for a few years and ask them for advice.

Most freelancers will be happy to help and share a few tips of the trade, so it’s worth reaching out.

4. Do I really want to work for myself?

Do you really want to go freelance, or do you just dislike your current role and are looking for a way out?

If you are unhappy in your current job, jacking it in and being your own boss can seem very tempting. But you need to be honest with yourself. Is freelancing the right route for you, or would you be happy to work in another salaried position in a job you actually liked?

What’s your real reason? Have you thoroughly researched your freelance business idea and considered how you would perform as your own boss, given the challenges and opportunities it presents?

5. Do I have the necessary business skills? 

Not everyone has a head for business, and while you may be good at what you do, this does not always translate into a profit if you don’t know anything about actually running a business.

It might be that you can learn business skills while still in your 9 to 5 by enrolling in a course or even learning ‘on the job’. You could be fortunate enough to team up with someone with the requisite business skills, but generally speaking, the nuts and bolts of running the business are likely down to you.

It’s not just sales and marketing you’ll need to consider, but also the financial side of things. Naturally, you can hire professionals; most self-employed people at least hire an accountant.

6. Do I have the right tools?

In addition to business skills, equipment and tools of the trade – will you have the right business tools, systems and processes in place to run your business?

For example, how will you invoice and get paid? Fortunately, Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors. Perfect for freelancers and small businesses.

Plus, it’s free.

Try it out here.

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There are many other factors to consider, but we hope these gave you some food for thought. Read our blog for other tips and ideas for freelancers and small businesses.

1. Is your business idea viable?

And have you done all the required research? This goes beyond asking family and friends whether they think it’s a good idea or not.

If you’ve come up with a unique business idea, do you know if there is a gap in the market? Are you providing a solution that doesn’t yet exist? In short, is there a need for it?

Even if you haven’t got a unique idea and are providing something that already exists (you don’t have to reinvent the wheel), you’ll need to distinguish yourself from the competition – to give your potential clients or customers a reason to buy from you instead of someone else.

You might be turning a hobby or passion project into a business. You could be operating a side hustle or working part-time. Either way, you’ll need to make a profit. So, as well as your prices (and your competitors), you’ll need to take into account your costs and overheads.

And the most important aspect – what are you selling, and who are you selling to? It’s vital that you identify this at the outset.

Another consideration is how you will fund your new venture. Will you use your savings and bootstrap it, or consider taking out a bank loan, seek venture capital, or a small business government grant if one is available? 

There’s plenty to think about.

2. Where will you work?

Will you have separate premises, a home office, a co-working space – or a combination?

If you can work from home, this will significantly reduce your overheads. However, some businesses will require premises, i.e. a workshop or kitchen. Furthermore, where you are based could significantly impact your business. Think about getting there yourself or your customers and clients visiting or finding you. Will you be in a shopping mall or a business park? These considerations will all determine how much you charge and how much money you can make.

While remote and online working has risen significantly since the pandemic, some businesses cannot be run effectively 100% online.

If you are a tradesperson, you might need to travel to other people’s homes and premises to carry out your work, for example, if you are a plumber or electrician.

3. How will you set your business up?

Will you be a sole proprietor, incorporate as a limited company or set up a partnership? Your legal structure will have an impact on how you run your business.

When starting out as a freelancer, some people start off as a sole trader (proprietor) and then set up a limited liability company at a later date.

Setting up as a sole proprietor is usually more straightforward than setting up a company, which, as well as company registration, will require a separate business bank account.

However, a company provides you with limited liability, meaning it is liable for debts or lawsuits – and your personal assets are generally protected. Also, in some cases, there can be a tax optimization benefit in operating a company and drawing a salary (and/or dividend) depending on your jurisdiction and tax position.

You should also investigate any regulatory licenses, permits, or mandatory business insurance you need to have in place, depending on the nature of your work and location.

You may want to consider seeking professional advice on this important aspect.

4. What materials do you need?

What materials do you need to perform your work or produce your product?

For example, you may require certain software, office furniture, apparel, safety gear, computers, or specialized tools if you are a tradesperson. If you have started out on a low budget, you could consider whether your tools need to be brand new or if you could use re-loved tools, or maybe even hire them as and when required.

Depending on your business, you may also need to find reliable suppliers. Finding and then building a mutually beneficial relationship with suppliers can take time – and all this needs to be in place before you can even begin a day’s trading.

Your material costs will affect your profits and cash flow.

5. How will you market your business?

Your potential customers and clients won’t know you exist unless you adequately market your business.

Marketing can be done via many channels, and you’ll most likely need some online presence. An SEO-optimized website with your sparkling new brand and compelling business name would be a good start.

But you don’t have to stop there; you can also be on one or multiple social media channels – depending on where your market (ideal customers or clients) hang out.

If you are setting up a local brick-and-mortar business or mom-and-pop shop, you could consider leafleting or advertising in local newspapers or radio stations.

How you market your business will very much depend on the nature of your business. The key is to know exactly who you are marketing to – so make sure you identify your ideal customers at the very start.

There is a well-known business saying worth bearing in mind; ‘If you are marketing to everyone, you are marketing to no one’.

6. How will you get paid?

In addition to your pricing, you’ll need to determine how you’ll get paid.

Not getting paid on time will have an impact on your cash flow.

Invoice Ninja is a leading free invoice software with a wide range of small business-friendly features to help you get paid quickly and on time.

Designed specifically for freelancers, solopreneurs and SMEs, it comes with professionally designed invoices, multiple payment gateways so you can get paid in just 1 click, client-side portals, purchase orders, quotes, recurring invoices, payment reminders, time and task tracking and lots more to ensure you get paid quickly and as hassle-free as possible.

Try it for free here.

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There are many other things to consider when launching a business, depending on your circumstances. We hope this gave you some good pointers. If you know of anyone else who would benefit from this blog post, please share it. Thank you!

This is because running your own business is typically quite different from working for a big, established company in a regular salaried position.

Here are 4 mindset shifts to consider.

Know what you can do (and what you can’t)

One of the great things about running your own freelance business is that you get to decide how you run it, the hours you work, how much you’ll charge, and who you do business with. But the flip side to this is that you are also responsible for everything that happens in your business. This perspective can seem overwhelming, but there are things you can do and processes you can implement to help.

An “I can do it” attitude is great. But you need to know where to turn when you can’t do it, too. Therefore, it makes sense to outsource things that are time-consuming or tedious or that you are not an expert at.

While you may be an expert at your craft, you’ll also need to know the ins and outs of actually running a business, what admin needs to be done (when and by whom), what taxes need to be paid, regulations complied with, deadlines met, and more importantly, how and when you are going to be paid.

Unless you worked in finance or accounts, you may be unfamiliar with invoicing, the terms used, and the items that need to be on an invoice for you to get paid on time.

Why spend hours compiling invoices, tracking hours or inventory and emailing clients when you could simply sign up for free invoice software and get it all done at the click of a button?

Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors.

Try it for free here.

Don’t be backwards in coming forwards

If you want to win clients and keep your sales pipeline full to avoid the freelancer feast and famine cycle, you are going to need to know how to best market your services. No one else is going to do it for you (unless, of course, you outsource this to someone else). However, this might not be viable or desirable at the beginning of your freelance journey.

You don’t have to be a super show-off extrovert to market and sell your services, but it’s helpful if you know what your offer is, who you are marketing to and the client problem you are solving.

Sales and marketing are often something those new to freelancing struggle with, so you need to have an idea of how you’ll market your services and win clients before you begin.

A helpful mindset for this is to remind yourself that your clients need you – you are the prize – by helping them or providing them with something they want or need. Not sharing your skills with the world would be a disservice to those clients who need to benefit from them.

Take care of your time (and money)

Freelancers need to take time out and have planned holidays to avoid freelancer burnout.

Nobody can work 24/7, 7 days a week. Not without detriment to their work, health or well-being (or all three!).

As a freelancer, you’ll likely need to plan for time away from your business in advance. You can read more about how to take time off as a freelancer in our article here.

Another time element to consider is what your contactable hours will be and client boundaries, i.e. when are the acceptable times for clients to contact you.

While you are no longer subject to the 9 to 5, you could find yourself working long hours or feeling you have to account for every hour spent working on a client project. This can be further exacerbated if you are charging by the hour. This can be a challenging mindset to shift away from.

Depending on your business and how you price your services, you may want to consider package or project prices in return for a set of deliverables instead of hourly rates.

This way, you are not stuck to set hours and can manage your time accordingly (especially if you are going away on vacation or need some time off).

Either way, good time management is essential when freelancing, and you need to adjust your mindset, see your time as valuable, and take good care of it.

Know when to draw the line (and have business buddies)

As well as having business goals, it’s also important you know when to draw the line if things aren’t going as expected.

Otherwise, you could end up doubling down and making your situation worse. To know if you are on the right track with your freelance business, you could set yourself a timescale to get X number of clients/projects by a specific date, or you could set yourself a monetary goal to reach.

It could be that your business just needs a few tweaks, or you could need to pivot or change your entire business plan. You might find that freelancing isn’t for you, so you return to a salaried position working for someone else again. And that’s perfectly okay, too.

You are allowed to fail and try again! This is where the benefits of networking and having business buddies really come into their own. Business buddies can be people in the same industry or niche as you or a completely different one, but having a network around you of like-minded folk who have experienced the same or similar business issues can be of great support – and boost your freelancer mindset.

Your freelance business will evolve and change as you grow – embrace the journey!

Here are 6 typical ninja character traits and how you can apply them to your business to enhance your freelance success, win clients, and get paid on time!

Spend time wisely

Ninjas are dedicated to their craft, so they spend their time wisely to hone their skills. They focus on improvement and don’t get distracted, which leads them to excel at what they do.

For freelancers and small businesses, to free yourself up, it makes sense to outsource essential but repetitive tasks that swallow up your valuable time, or you are not an expert at so you can focus on your craft and loyally serving your clients.

That’s why Invoice Ninja takes care of your invoicing so you can focus on doing what you love (and what makes you money).

We’d say that’s time well spent!

Be fearless

Being a fearless freelancer doesn’t mean you don’t experience fear.

We can all get nervous when working with a new client, delivering work for the first time or sending off our first-ever invoice. We want to get everything right.

Being fearless means you recognize and accept fear; that way, you can take heed of it and apply the necessary steps to move past it.

It’s about having a growth mindset and, at the same time, being aware of and confident in our abilities.

And the best way to get good at it – is to practice it.

So do your best work and, with the help of Invoice Ninja, send off your branded, professionally laid out invoice containing ALL the correct information (and get paid) with ease!

Be trustworthy

Ninjas are loyal to their cause – and trustworthiness is fundamental to any true ninja. A ninja must be able to execute the task assigned to them. There is no room for error or oversight.

Likewise, to win and retain clients, freelancers need to be seen as reliable, dependable and trustworthy.

That’s where professional invoice templates come into play.

Well-formatted, error-free, branded professional invoices show clients you mean business and signal trust.

Invoice Ninja offers free invoice templates, and what’s more, each invoice template can be customized with your company logo, branding and other detailed formatting customizations.

Be alert

Ninjas are always on alert and aware of their surroundings. They know exactly what is going on in any given situation so that they can react quickly and efficiently. They are never backed into a corner.

As a freelancer, you need to be aware of what’s happening in your business, what needs to be done, and when. These days, things move fast, and it’s easy to lose track of things – especially cash flow.

With Invoice Ninja, you can get alerts when a customer views and pays your invoice to help you keep your cash flow on track. You can also automatically send reminders at whatever intervals work best for you!

Our dynamic dashboard data allows you to view revenue, invoices sent, recent activity and lots more at a glance. Plus, you can easily track inventory levels using our inventory management feature that automatically reduces stock and lets you know when stocks run low.

Be prepared

Ninjas are always prepared for whatever scenario they find themselves in – this gives them the upper hand over any competition.

A savvy freelancer will have systems and processes in place to ‘combat’ day-to-day as well as less regular client and business transactions that may come up.

For example, it’s advisable to have a process in place for onboarding clients and client calls as well as having proper invoice and payroll systems in place – especially one with a huge range of language options for overseas customers, like Invoice Ninja!

The more top-notch processes you have, the better, as it will mean your business and ways of working are more streamlined and efficient – leaving less room for error or any unpleasant surprises.

You’ll also stand out amongst the competition.

Be consistent

Ninjas are consistent. In their training, in their daily tasks, and how they ‘show up’.

They are super disciplined and can think quickly on their feet.

This is an excellent trait for freelancers to follow. If you are consistent, you are also seen as reliable, and if you consistently show up and do a great job, you will soon gain a reputation for excellence.

This ‘consistency’ and ‘discipline’ can also show itself in your processes. For example, with Invoice Ninja, you can also save time by automatically billing long-term clients with recurring invoices – taking consistency to a ‘whole nother level’.

All these ninja traits, when applied diligently and consistently, build on one another, making you a sensei-level freelancer who never needs to worry about snatching victory from the jaws of defeat!

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So, if you want to boost your freelance ninja skills, attract clients and get paid on time – try Invoice Ninja today.

Try it for free at the link here.

Not only do you have the freedom to work how and when you please, but there is no limit to how much you can potentially earn running your own business.

Here are 6 ways to make more money as a freelancer.

1. Increase your prices

The answer to making more money may be as simple as increasing your prices and rates.

Freelance price increases are normal, and clients expect them from time to time, as long as they are not excessive (or done too frequently), appropriate, and clients are informed with plenty of time.

Some freelancers adjust their prices in line with cost of living increases. Some make a point of increasing their prices annually, and some more or less frequently. For example, as they get more experienced and provide more value, they increase their rate accordingly.

Some freelancers increase their rate for each new client.

A current review of your prices, taking into account market conditions relevant to your industry or profession and your experience and services, should reveal any disparities.

Another point to consider is that charging more could positively result in positioning your business for larger clients (with a bigger budget).

2. Change how you charge

Are you charging an hourly rate, which would be better converted to a project or retainer rate? 

One issue with hourly charging is that as you get better at performing tasks over time (and therefore quicker), you’ll be getting paid less while providing more value.  

It’s also pertinent to remember that not all hours are billable – so you need to incorporate this into the amount you charge to cover project items such as research and any lengthy client interactions.  

When calculating your basic rate, make sure you’ve taken into account all your outgoings and make allowance for days when you cannot work, i.e. vacations or sickness (and are therefore not being paid). 

This is vital if you want to make ends meet.

3. Ask for referrals

Make good use of low-hanging fruit by asking your current clients for referrals. 

Referring good, reliable freelancers to colleagues makes sense to clients and puts them in a good light, too, so don’t be afraid to ask if they know anyone else who might benefit from your services. It’s also likely that asking a good client for a referral will result in your getting more of the same.

Likewise, when you ask for a client testimonial at the end of a project, you can also ask for a referral. Don’t be shy about asking for referrals.

You could even add this request to your final invoice.  

Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It includes attractive, professional invoice template designs you can customize with your logo and brand colors. You can also customize the messages on your invoices and emails.

Try it for free here.

Some freelancers even offer an incentive for referrals, i.e. a percentage of the initial new client contract fee.

4. Add extra value to existing clients

This doesn’t mean you have to go out and get an extra bunch of new skills (although there is nothing wrong with that), but you don’t have to be an expert at everything to add extra value to your existing clients.

You simply identify other areas you can help with – business, at the end of the day, is about helping. And the more help you can give, the better for everyone.

Extra help might be on an ad hoc basis or an add-on to your service. Either way, you can charge more for it.

For example, you might identify a gap in your client’s marketing strategy that you can consult on, or you might offer sales page copywriting services in addition to blog posts or Facebook ads.

5. Create a product

A really good way to earn extra income is to create a product.  

This could be an info product, an online course, a subscription service (such as a membership) or even something more tangible, such as art and crafts via Etsy or perhaps use an online platform such as Shopify or eBay to sell your wares.  

The great thing about creating your own products is that it creates an extra, often passive, income stream and can even be an excellent way to upsell your other services.

For example, you could upsell your higher-ticket private coaching via a lower-ticket online course. 

When it comes to products, online and offline, the only limit is your imagination.

6. Collaborate with other freelancers

Consider collaborating with other freelancers to provide an irresistible offer and expand your services.

For example, if you are a website designer, consider teaming up with a copywriter. Not only can you launch attractive packages and offers together that meet your client’s needs, but you both benefit from each other’s clients.

If you want to scale up, the next stage would be to consider starting your own agency. Collaborating with freelancers might be a taster to see whether this model would suit your business and skill sets.

To make more money as a freelancer, leverage your current skill sets, take advantage of low-hanging fruit, and always be looking for opportunities to help.

To summarize:

• Consider increasing your freelance rate
• Change how you charge, e.g. hourly to a project rate
• Don’t be shy when it comes to asking for referrals
• Add extra value or offer additional services to existing clients (and charge accordingly)
• Create products to add passive income streams
• Collaborate with other freelancers and consider starting an agency

We hope you find this helpful. If you know of anyone else who might benefit, please share.

However, significant differences can crop up when working with overseas clients instead of those based in your home country.

Here are 8 top tips for dealing with international clients as a freelancer.

Culture

While you don’t have to be an expert in the culture, traditions and norms of your client’s home country, it’s beneficial to be at least aware of them.

This doesn’t only cover national and local holidays (so you know when they operate) but also customs and ways of doing business. What might be acceptable in your home country may be seen as rude or discourteous in theirs.

Being culturally aware and mindful also opens you up to a new and interesting worldview and conveys respect and openness – all qualities that make you even more attractive to work with and help develop the relationship.

Payment methods and gateways

Some jurisdictions will only be able to pay in a certain way or by a specific method.

That’s why it’s good to be able to offer a range of different payment methods as well as payment gateways such as Stripe or PayPal.

With Invoice Ninja, you can integrate your account with a range of payment gateways, enabling your clients to pay their invoices with just one click.

The payment gateway processes the transaction in the background, which means your client never has to leave their Invoice Ninja client-side portal.

This makes everything so much more simple for your overseas client.

Try Invoice Ninja for free here.

Different systems and processes

Your overseas client will likely have different internal systems than your onshore clients.

And just as you should get to know your home country client’s specific procedures and processes, e.g. for tasks such as project work and invoicing, the same, if not more so, is especially true for overseas clients.

They may have different dates, management hierarchies, and protocols for approval and payment of your invoices.

So ensure you know what they are from the very beginning of your client relationship.

Currency (payment and exchange rates)

As a rule of thumb, it’s probably easier to invoice in your local currency, but if, for whatever reason, you can’t, you’ll need to factor in the cost of any foreign currency exchange into your prices.

You might have a bank account in your client’s currency or some other reason for accepting foreign currency, but the key is to get paid the rate you charge, and any extra costs need to be factored in.

It’s, therefore, useful to have invoice software that provides the option to bill in foreign currencies.

Invoice Ninja supports dozens of languages as well as currencies.

Communication is key

Sometimes, due to language and cultural differences, things can get lost in translation.

So, with overseas clients, it is always important that both parties are clear in their communications and fully understand one another.

Whether this is about the finer details of the project (deliverables) to cultural boundaries (i.e. what is an acceptable way of working, if there is a time difference, what hours can you communicate, etc.) or payment issues (do you charge for late payment, is there a specific date you’ll be paid, and how, etc.).

Naturally, if you can speak their language, things will be a lot easier but don’t assume that something that is the norm in your country will be the same for your international client.

Contracts

When working with overseas clients, it is essential to have a contract or written agreement that details the project’s scope and specifics about payment, etc.

The type of items covered in a contract can vary from jurisdiction to jurisdiction, but as a minimum, you should consider the following, which we’ve laid out in our post here, and even consider getting professional advice.

It’s also important that the contract, if applicable, is in your language and, if applicable, your client’s native language, too.

It’s crucial that both parties know exactly what the contract includes (and what it doesn’t) to avoid any nasty surprises down the line.

Tax and permits

One of the first things to consider is if you can work with a client in a different jurisdiction.

While your country may allow it, the client’s country may have restrictions and vice versa.

This is especially the case for some countries that are on a sanctions list or have restricted trade agreements.

You may also want to consider the tax implications for you personally and your business.

For example, what impact does VAT have? What about state and local taxes? – that’s why, if, in any doubt, you should check these factors out with a professional first.

Take note of time zones

Being reliable is key when it comes to freelancing.

Some companies and clients will have fast turnaround times and expectations, so it’s important to be extra mindful of deadlines and timescales when dealing with international clients.

If they expect something to be done by the end of business, do they mean their end of business day or yours? Which could be substantially different.

And what do they consider the end of the day – 5 pm or midnight?

This goes back to our point about communication – and could be a good point to add to your written agreement or contract.

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We hope you found this helpful. If you know anyone else who might benefit, please share. Thank you!

It may be tempting to splash out on vanity purchases such as an all-singing, all-dancing website, but until you get established and have a healthy cash flow, here are 5 ways to cut costs and save money as a freelancer.

Reduce unnecessary outgoings

Before launching your freelance career, try to reduce or eradicate personal debt such as credit cards, loans and overdrafts.

You will not be able to rely on a monthly salary to pay for these outgoings as a freelancer, so it’s essential you know what your monthly outgoings are so you can plan to reduce or stop them. You should also consider canceling costly and non-essential subscriptions.

Likewise, it makes sense to save as much money as possible before you go freelance.

It could be that you work part-time for a while or launch a freelance career while still employed full-time. This is especially the case if you have a family or dependents that rely on your income.

The point is to have a buffer fund to rely on for the slow months or the dreaded freelance feast and famine cycle.

Use free online tools

Many Software as a Service (SaaS) tools have a free version you can use when running your freelance business.

Some online tools, such as Libre Office, are completely free, which you might want to consider (assuming it has all the features you need).

You can use the free version of Canva for graphic design for your social media marketing and the free version of Grammarly to proofread documents and check for errors.

Likewise, choose the free plan offered by email software providers to set up your email newsletter to inform potential clients of your latest news and offers. These are all powerful marketing tools that you can use for free.

Nowadays, you don’t have to pay for video editing or film-making either. You can simply make videos with your smartphone and post them on social media. While you might want to upgrade later, when you are on a budget, it makes sense to use the free tools at hand.

The same goes for invoicing.

Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors.

Try it out for free here.

Join free business groups

There are plenty of business groups online (for example, Facebook and LinkedIn) that you can join for advice about freelancing in general or your specific niche or skill, for example, copywriting.

You can ask questions in most of these groups and learn from other freelancers’ experiences. Learning from other people’s mistakes is a less costly way than making your own, especially when it comes to pricing your services, sending client proposals and dealing with late payers.

You can also learn a lot from other freelancer’s content and processes, so it can be a good idea to sign up for their email newsletters, especially if they specialize in helping freelancers get clients.

It’s also a great way to network with other freelancers (who might even have too much work, so pass some to you!).

Either way, business groups are a great free resource you can easily dip into.

Buy re-loved equipment and tools

Depending on your line of work, consider opting for refurbished or secondhand equipment.

For example, if you are a freelance woodworker, you don’t necessarily need to spend $$$ on the latest highfalutin laptop when a refurbished one can do the job just as well.

Take stock of what you are spending money on and see if there’s the possibility of using secondhand or re-loved equipment.

As long as the equipment can do the job just as well as a brand-new one, this is an excellent way to save money and reduce expensive outgoings and upgrades.

Prepare for taxes and know what’s tax-deductible

Benjamin Franklin famously once said that there are two things certain in life: death and taxes.

So we can at least prepare for one of them – in this case, taxes. Make sure you put money aside to cover your taxes and ensure they are paid on time to avoid any potential penalties.

Another good strategy is to know what expenses are tax-deductible. A good accountant can help with this, but generally speaking, some business expenses are tax-deductible, so knowing them in advance will allow you to manage your finances and make informed decisions before spending money on things such as business travel, health insurance, retirement contributions, and professional development.

If in any doubt, speak to a professional accountant. A good accountant is a great investment, one that can save you a lot of time and money!

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But you know successful freelancers do exist out there, and their businesses thrive – so how do they do it?

Here are 5 simple but effective things successful freelancers do that you can apply to your own business to enhance your reputation and win (and retain) clients.

1. They network and collaborate

You may have heard the saying your network is your net worth, meaning that professional connections and business relationships can be a powerful asset – and this is especially the case with freelancing.

Successful freelancers know the power of networking.

What’s more, you don’t just have to network in person at industry events. You can effectively network online in business groups and on social media. Connecting with others in your industry and even in your specific field is a great way to get your name out there and can lead to numerous (potentially lucrative) benefits.

Don’t be afraid to connect with other freelancers in your profession, either. They can be a vital source of information and may even have excess work they can pass your way.

You can also collaborate with them rather than compete. They might offer a different service or skill that, when combined with your skill set, makes an irresistible client offer or unique ‘bundle deal’.

So be open to networking and actively seek out opportunities to build relationships in your industry and profession.

2. They communicate clearly, accurately and professionally

How you present yourself (and your offer and services) both online and offline is important.

Whether it’s the copy on your website and the user experience (UX) to your written client proposals communicating clearly what you do, your prices, and what the client needs to do if they want to proceed, how well you communicate is paramount to your success as a freelancer.

Unclear, confusing or incorrect client communications will cost you money.

When it comes to invoicing, for example, you can save yourself time (and, therefore, money) by using one of Invoice Ninja’s professional invoice templates. Not only will you come across as professional, but a branded and businesslike invoice template will help ensure you get the correct payment information and get paid on time.

Likewise, if you ask for a deposit upfront before you commence work (which is common practice for freelancer projects) with Invoice Ninja, you can send the deposit invoice, and once paid, it will automatically revert to a regular invoice for the balance and date due.

Having a written client agreement in place will also help manage expectations on both sides and can be referred to if any queries or misunderstandings crop up during the project.

So take good care of how you present your offers, services and ways of working.

3. They stay curious, explore and learn

Successful freelancers are often curious. If something isn’t working, they find out why. For example, if, for some reason, they are not getting leads, they explore different client acquisition strategies. They test what works and what doesn’t.

They also have their finger on the pulse of whatever is happening in their industry; this doesn’t mean that they necessarily jump on every bandwagon or ‘shiny object’, but that they are aware of what is going on and, more importantly, what might be of interest or beneficial to their clients.

They are always bringing something to the table to further help their clients.

Successful freelancers are always learning or brushing up on their skills so they can continue to provide value to their clients and don’t regress.

So stay curious, keep up to date with industry news and trends, and add value where you can.

4. They are reliable and consistent

This is a big one.

Successful freelancers know the importance of showing up and doing what they said they were going to do (and adding extra value when appropriate). Reliable freelancers are sought after because reliability can make the difference between a successful project and a disastrous one.

To maintain consistency, it’s essential to have robust systems and processes in place and even better if each process is documented. For example, what does your client onboarding process look like? How do you manage client queries? How do you ensure invoices are paid on time?

This consistency also shows up in their communications, for example, sending regular recurring client invoices on time. Invoice Ninja offers auto-billing via the world’s favorite payment gateways for clients that need to be billed on a fixed schedule – and to make things even better, also provides a vast array of different language options.

Try it for free at the link here.

5. They continue to market themselves even when fully booked

To help combat the dreaded freelancer feast and famine cycle, successful freelancers know the importance of always marketing their services.

Just because you have an abundance of work one moment, there’s no guarantee this will go on forever. Some work is cyclical, and even work from a regular client can cease abruptly for a myriad of reasons.

Make sure you schedule time to work ON your business as well as in it.

So, be prepared and always be marketing!

Here are 4 practical things you can do while still employed before launching your freelance career.

Get a buffer fund

When you go freelance, you are responsible for all your expenses. And this is not just things such as computer hardware and software and general running costs, but travel to and from meetings, the cost of materials you need to perform your role and many other ad hoc expenses.

While most of these might be written off against tax (depending on the tax regulations in your jurisdiction), they will impact your initial cash flow.

That’s why it’s a good idea to have as much in savings as possible to cover the day-to-day costs of running a freelance business and fund your cost of living (i.e. rents, subscriptions, food, utility bills, etc.) – in short, the more of a buffer fund you have, the better.

So, while you still have a salaried position, now is the time to start building up a buffer fund (and if you can, pay off as many of your personal debts as possible, too), so when you launch your freelance business, lack of money is not the first thing you are firefighting.

Take note of internal processes

Depending on the type and size of business you currently work for (and your position in it), there will be differing internal processes in place to help the business function.

Now is the time to take note of these processes so you can use them to good effect in your freelance business (or at least know how they work when you are on the other side of the equation). For example, what is the business procurement process, what do they look for when they hire freelancers or is their policy to only use agencies – or maybe they don’t have any external help – then your job is to find out why.

It’s an excellent time to act like a super sleuth and figure out what policies, processes, and procedures might help you in your freelance business. For example, do they have a client onboarding process? Maybe you can scale these down (or up), or you could even spot a gap that needs filling (with your freelance help, of course).

You already work within a business that provides a framework for your own freelance success, so take advantage of low-hanging fruit.

Learn how to provide estimates and create invoices

Providing estimates, quotes, and invoicing clients is most likely a foreign task to you unless you happen to work in accounts or finance.

Now the time is ripe to visit your accounts department to see how they invoice and what software they use. And also, if possible, swing by procurement to see some of the estimates and bids for business they receive.

Well-written proposals and estimates are key to successful client acquisition, and providing a professional, accurate and branded invoice will build trust, help you win more clients and keep them coming back for more.

These are crucial tasks for any freelancer but are not something people new to freelancing first think of as they are busy marketing their specific freelance skills to potential clients and not necessarily thinking about the business skills (and invoice software) they need to actually run the business.

Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors. What’s more, when you email quotations to your clients, they can “Click to Approve” the quote, which converts it into a payable invoice!

Invoice Ninja helps make the complex simple so you can focus on doing what you love.

Try it for free here.

Get the training and skills you need

While you are still in salaried employment, it’s a good idea to identify any training you need or skills that would be handy to have. For example, do you need to attend a business seminar or brush up on any hard or soft skills? This might be by investing in courses or attending networking events in your soon-to-be industry.

It’s likely that when you launch your freelance career, you won’t have the time, energy, and bandwidth (or possibly the budget) to undertake courses or learn new billable skills. Freelancing is a high learning curve in itself.

There may be courses (or even access to professional qualifications) your current employer offers that will potentially help you in your freelance career, too. This is especially true if you remain in the same industry or niche.

So, although there is a saying about jumping off a cliff and building your wings on the way down – when you voluntarily leave your 9 to 5 to pursue a freelance career, it pays to be as prepared as possible.

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