Becoming a Freelancer
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Being a freelancer is one way to start earning an income from home or to explore a sideline. You can offer your services today if there is a skill you can provide to the market.
For me, I have a sideline freelance job. I started to freelance not just to generate a side income and also to create my dream career. I want to be better in business/marketing/design consulting. Where is a good place to explore such options? The Internet!
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What is a Freelancer?
A freelancer is a person who offers his/her services for a fee. Freelancers can take on contract work and commissions for organisations, start-ups and individuals. Freelancers have to wear several hats; you are your own boss, contractor and administrative staff.
Why Would You Want to Freelance?
There are several reasons to start freelancing.
Just like me, you want to generate a side income. Maybe you need the extra money to pay off debt or to save up your emergency fund.
Your day job does not give you any sense of achievement or fulfilment. You want to explore the creative impulses in you. You want a place to showcase your talent.
You want flexibility. You decide where and when to work. You also get to choose the work and clients.
You want to open up more doors to various career options. For example, you just started to learn to code, and you want to be a programmer. You can use freelancing as a way to harness your skill. You may not have made a name of yourself, so you may need to build your portfolio, credibility and clientele list and become good in your field. It may then lead you to more opportunities.
Pros and Cons of Being a Freelancer
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Pros
You have control over your workload, the clients who you want to work with and your income. Depending on your level of expertise, it is possible to charge a high cost and work for short hours but get good pay.
You get to enjoy freedom. You can work full-time for most of the year and work lesser during summer or winter break. You have the flexibility to make the decision.
Freelance jobs offer independence. You are free from the 9-to-5 work life. You also can work alone anywhere you want. However, independence can be a double-edged sword, as explained in the next point.
Cons
You have to complete all the work by yourself. You do not have a team. At times, you would free overwhelm due to work.
Your income is irregular. There may be months where you do not earn a single cent. It will take time to build a full-time income.
You do not have employee benefits such as performance bonus, healthcare benefits, retirement funds contribution, etc.
You will not have steady work. Even if you have clients, anything can happen. Clients can choose to end a contract early, yet there is nothing much you can do. You will find it difficult to find more clients and work too.
What Kind of Freelance Jobs Can You Offer?
Here are some common freelance jobs:
Writer - copywriting, SEO writing, etc.
Designer/Illustrator
Programmer - iOS, Android, website, etc.
Tuition teachers
Physical trainers
Marketing or business consultants
What Do You Need to Get Started?
SKILLS!
You need to have at least a skill you can offer to potential clients. You can draw on the talents that you have or from your professional experiences.
Along with a service, you may want to put together the following:
A business license
Do you want to register as a Sole proprietorship or Private limited company? If you are running your business under your full name in Singapore, you are not legally required to register your business. (That's one way to save money.)
A website or social media page
It's good to have a website or social media page that showcase the menu of services, portfolios and maybe, clients' testimonials and your rates.
A contact point, be it an email address or phone number, which potential clients can reach you.
How Do You Find Work?
You can consider asking people from your social network. Take this chance to promote your services. You can checkout freelance websites, such as Upwork and Fiverr too.
How to Handle Taxes?
Like any job or business, you most likely have to file your taxes. You need to read up on the obligations and how to file the taxes. Do you file under tour business ID or personal name? It is important to declare your taxes and get them right. Be a law-abiding citizen and pay your taxes! I won't elaborate more on this point. I strongly encourage you to read up on your country's tax obligation.
Now that you have a better view of what's it's like to be a freelancer, are you ready to be one? It's not a complicated process to be a freelancer. Just like any other jobs, you need to work for it. I hope this guide to freelancing has been helpful for you.
x, Esther
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