How to Transition From a Full-Time Job to Freelancing

Making the switch from a full-time job to freelancing can be stressful. Working from home whenever you want as a freelancer and working from 9 to 6 at an office are two very different things. It is sometimes said that while working a full-time job, you are an employee of a business; however, once you begin freelancing, you become the business. It stands to reason that working as a freelancer needs far more effort, accountability, and readiness to occasionally make a minimum wage.

Many people believe working as a freelancer is easier and more enjoyable than working at an office. But this is from the first glance. In reality, many freelancers can prove that freelancing needs more self-control, concentration, patience, determination, and self-assurance than any full-time job. Besides, you don’t have real weekends while working as a freelancer, which makes things significantly more challenging.

However, working for yourself provides a lot of advantages as well. Freedom, several income sources, creativity, self-management, and flexible hours are a few to mention. All these benefits typically persuade people to think about freelancing and consider this a rewarding career choice.

Hence, if you’ve ever considered freelancing as a career option, you need certain strategies and tools to help you make the shift easily.

Manage Freelancing With a Full-time Job for a While

Before leaving your full-time job at the office, it is highly recommended to balance freelancing and your full-time position for a few weeks. It can take several weeks to get everything in place to start working as a freelancer, to find clients, and sometimes even longer to get paid, so trying to work parallelly is the very first step in a smooth transition.

Remember that working for yourself might lead to isolation. No more face-to-face interactions, group lunch breaks, or long talks about different life events. Thus, it is highly recommended to get used to a lonely workplace gradually in order not to fall into stress and anxiety. Besides, still having an income while starting to work independently can reduce the risks.

Grow a Nest Egg

Before considering working as a freelancer, it’s critical to put up an emergency fund because freelancing cannot guarantee you a consistent monthly income. Thus, you’ll require savings to safeguard yourself against difficult times. Having some cash set aside in a nest egg can help you cover the gaps over the first few months of working independently.

Join Freelancing Platforms

As a freelancer who possesses the necessary qualifications and skills, you can find work and get paid on numerous freelance platforms. In reality, joining different freelancing platforms is necessary for those who have decided to work independently. These websites serve as a workplace, a talent market, a place for communication and collaboration, and even a record for payments.  The three best freelance platforms for 2022 are Toptal, Fiverr, and Upwork. These online marketplaces link contractors with companies seeking help with various digital projects.

Create a Working Strategy

Although freelancing allows you sufficient independence, you risk wasting your time and energy without a defined business strategy. It might be dangerous to enter the reality of freelancing poorly prepared. Therefore, it is crucial to have a plan in place to ensure a smooth transition from a full-time job to working from home. The plan should address the following issues:

1. What is the goal of my business?
2. What services are there?
3. Who is my target audience?
4. Do I have precise deadlines?
5. Are my services competitive?

Remember that a comprehensive freelance strategy can help you grow your business, as it usually answers the key questions about the nature of your job. Therefore, you might need to figure it out before finding your first customer.

Determine The Cost of Your Work

One of the most challenging aspects of freelancing is usually determining your rates. For the time and effort you invest into your work, as well as for your aptitude and competence, you should be compensated adequately.

You should also earn a living. Thus, consider what the market is offering for freelancing work similar to yours before you start thinking about how much to charge your customers. This will allow you to make sure that the prices you intend to offer are in line with market rates at the time. Furthermore, you should also learn how much potential customers are ready to pay, as it is said that to create a meaningful freelance connection with a customer, the latter’s budget and your clear objectives must be met.

Work With Your Network

The greatest place to start freelancing is within your current network because these individuals already “know, respect, and believe” in you. Inform your friends, family, and coworkers about your services. Likely, one or more of these discussions with people in your current network will result in you receiving your first freelance job.

Have a Plan B

Remember, you need to have a backup strategy. What if you have trouble finding customers? What if you spent all of your savings without earning enough to live? What if working for yourself is more difficult than you anticipated? Therefore, it’s crucial to simply consider these scenarios and have a plan for what you’ll do if things don’t go as you planned.

Taking Everything Into Account

In the end, we can conclude that freelancing is not for someone who cannot work for long hours, handle clients, and stay organized under pressure. Therefore, if you have decided to change your full-time job and believe that freelancing is the greatest fit for you, you had better read this article one more time, pick up the essential skills, and get prepared for the smooth transition in order not to regret it in the future.

Read more articles about freelancing, familiarize yourself with the perspectives of those who have already worked in this sector, express your thoughts to those around you, ask questions, and make a wise decision.