What are the most important considerations for starting a freelance business?

Recognizing the risk of a variable income, the need to actively sell your services, and building a financial buffer for at least six months are essential when starting a freelance business. Acknowledging potential periods without assignments and understanding the need for personal time investment in skill development are key considerations. Companies often prefer freelancers with a track record in solving similar problems, making on-the-job skill acquisition challenging. Despite these challenges, the freedom in freelancing is priceless and can be addictive, making a return to working under a boss difficult. It's like taking the red pill in the Matrix; there's no turning back ??.

I think one of the most neglected parts is market research. Preparation is key. Conduct thorough market research to understand the demand for your services, identify competitors, and determine pricing strategies. This insight will help inform your business decisions. Starting a freelance business is not easy. You are your business so take the time to learn about your competitors and perfect your skill.

é extremamente importante que antes de definir os objetivos, ter claro e definido o seu POR QUE, ou seja, o que irá nortear as suas decis?es, dire??es e o valor que será gerado como freelance. Após o POR QUE definido, você terá base para escrever a sua miss?o e vis?o. Isto dará sustenta??o para definir os objetivos de forma realista e bem alinhada com o que realmente você quer como freelance. E por fim, você definirá as metas para te ajudar a atingir os objetivos estabelecidos. Para te ajudar a definir suas metas, utilize esta estrutura: Propósito, Valor e Tempo. (Quero ter uma recorrência mínima mensal de 5 novos contratos (propósito) de R$5mil cada um (valor) em até 90 dias (Tempo).

Before starting a freelance business, you want to first make sure you can identify and speak to how you differ from your competitors. What makes you shine and why should someone choose to work with you over another option? Be your own biggest fan!

Consider: Research freelancing: Talk to freelancers. What are the hardships associated with this route? What are the successes? Is this really what I want to do? Set a goal: What is the goal of your business? Who do you want to target/serve? Who do you not want to serve? Have ideas on paper: How much might you want to charge? Will you need support from other people on any anticipated projects? Have your 30-second elevator pitch ready: Be clear about what you do and be able to communicate it quickly. Just get started: Don't wait for everything to "be perfect". Start telling people about your new offering and you will be able to rise to the occasion when the right opportunity comes along.

Learn marketing or partner with someone who can do marketing for you. It doesn’t matter how skilled you are. Your target Customers should be able to find you, learn about your skills and easily engage with you.

If you never done freelance work before, consider starting in a niche where you know someone personally who could be your first client or at least give you feedback on how you could tailor your services to other like them. If you have already done some freelance work, then it's even easier. Review your clients and considering doubling down on the types of clients who were easier to close or who have stuck around the longest. Your skills are likely the best fit for those types of clients.

The more specific you can niche down, the better. I found this really challenging when I started out, as I wanted to appeal to everyone all the time. But trying to stand out as just a freelancer is nearly impossible. You need to have something specific to you that draws people in. Here’s a thought process example for inching down: writing about business > writing about fin tech > writing newsletter content for fin tech startups. Every time you think you’ve found your niche, think one step further to define your corner of the market and how you can stand out.

Setting my rates, I embraced Alex Hormozi's philosophy of value-based pricing. It's not just about what the market bears, but about the unique value I bring to my clients. I assessed the tangible outcomes my services could deliver, particularly in coaching and e-commerce. For instance, instead of charging hourly, I structured my pricing based on the potential revenue growth or the personal development milestones my clients could achieve. This approach emphasizes the results and transformation provided, justifying higher rates and aligning clients' success with my business growth.

I'd recommend starting at average market rates, but paying close attention to the pace at which you acquire new business. If you end up with more inquiries than you know what to do with, then it may be time to raise your rates. At the end of the day, don't feel bad continuing to raise your rates if demand for your services is still there.

If you are planning to work at a freelance business that involves something in your area of expertise, then you probably know who your potential clients are. They may even be people you working with as an employee. If your target client already works with someone else, your pitch is going to be hard work. It's far easier to find a client from a warm introduction or referral than it is from a cold outreach. If you've ever had an unsolicited inMail message here from someone in another country trying to convince you to use their SEO services, you'll know exactly what I mean. So use the networks you already have to find your first client. Once you've proven yourself with one, the next one will be easier, and then the next.

It’s always a great idea to take a proactive approach to finding clients. Define the ideal person or company you’d like to work with and what your idea package looks like. Don’t be afraid to reach out to the contacts and share how your work can help them. At the same time, you should be thinking about your personal brand and how you are drawing in new leads. That stream of opportunities is what will help you build a sustainable business. Optimizing your LinkedIn presence is a great place to start - regularly post insights about your work and the industry to connect with potential clients. Remember that your business is always growing and evolving and you can change/adjust your clients as you go.

The focus on trust-building is vital. Attract prospects through the 'net' method by sharing insightful, value-driven content and establishing yourself as a trusted authority. Tailor your pitches to address each client's unique needs, demonstrating understanding and commitment. Build lasting relationships through consistent communication, responsiveness, and exceeding expectations; offer help, but remember, your prospects also have to offer something, anything in return, including introductions and referrals. When facing difficult clients, approach with empathy and professionalism, and don't be afraid to admit wrongdoing and reflect on your mistakes when appropriate; it goes a long way in maintaining and building trust with clients.

I focus on identifying where my ideal clients congregate – whether in online forums, social media groups, or industry events. My pitch centers around the value and transformation my services offer. For instance, in coaching, I highlight how my guidance can lead to tangible outcomes like increased productivity or business growth. To build and maintain relationships, I prioritize consistent communication and offer additional value through free resources or advice. For difficult or unsatisfied clients, I maintain professionalism and seek to understand their perspective, often turning challenges into opportunities for service improvement.

Protecting your rights as a freelancer is critical. Drafting clear contracts is essential, detailing the work scope, payment terms, and dispute resolution. While AI can initially draft these contracts to save costs, a lawyer's review is invaluable for ensuring legal compliance and safeguarding interests. Lawyers are particularly crucial when projects don't go as planned, offering tailored advice and dispute resolution support. Investing in legal counsel upfront can prevent significant costs and complications later, providing peace of mind and professional credibility in your freelance business.

In my prespective, you have a clear voice to translate your goals as freelance business, your strengths are your expertise plus if you are taking lassistance of legal counsel it will reduce your headache and left you to focus truly on your attributes to capture your niche.

Trabalhar de forma ética e legal é a melhor decis?o a ser tomada desde o início como freelancer. Procure um escritório de contabilidade para abrir um CNPJ e entender todos os impostos envolvidos na presta??o de servi?o. Também, deve-se procurar um advogado para te ajudar a elaborar bons contratos de presta??o de servi?os, confidencialidade, propriedade intelectual e LGPD. Portanto, n?o abra m?o de estar protegido juridicamente, afinal, você nunca saberá quando enfrentará um problema onde o seu nível de preparo nas quest?es legais irá te proteger ou e causar prejuízos.

Quanto tempo vou conseguir dedicar a essa atividade? Quanto vale a minha hora para que a precifica??o esteja alinhada as minhas necessidades? Eu tenha as habilidades necessárias para realizar o trabalho? Quais s?o as expectativas do cliente?

One important consideration is building a support network. Starting a freelance business can be challenging, and having a network for advice, referrals, and moral support is invaluable. I connected with other entrepreneurs and joined relevant online communities, which provided me with resources and encouragement throughout my journey.