Small businesses are launching in record numbers and a surprisingly high percentage of these businesses are one-person entities. While the rise of technology makes it easier for entrepreneurs to conduct business, working as a freelancer can be fruitful and challenging. But how can you be fruitful in a high-demand lane, with more and more businesses contracting out their work? The answer is simple: mastering your business or hustle is the key to continued, yet steady exposure and success. Applying these three business practices can send your freelance business soaring and help you manage your time and output.
Create a structure and be disciplined
The first major shock one may experience when transitioning from being an employee to being self-employed is freedom. With your newfound freedom, you no longer have someone standing over your shoulder, or imposing deadlines on the work you need to complete. You are your new accountability, and the amount of work you put in will directly impact your results. It’s important to create structure in your workflow, to discipline yourself to remain on task and do the work that needs to be done. If accountability isn’t your strong point, enlisting the help of friends or industry peers to help support your hustle is vital.
Focus on managing your finances
With freelance work, the amount of work you receive can be extremely inconsistent, especially if you offer services. Managing your money will help you stay afloat and enable you to manage the amount of work you take on from clients. As many freelancers can attest, you can have a lot of work or no work. Having a good handle on your finances can allow you to stay afloat during slow periods without having to resort to working part or full time for someone else.
Contract out time-consuming work
How do some corporations stay on top of their workload? By contracting out time-consuming work to those who are skillful at it. If you can team up with other freelancers to take on a project or assignment, do so. But be sure to only delegate or team with freelancers who will refer work to you.
Staying focused and striving to make your freelance work and business more seamless is important for success.
