How to Freelance and Stay Sane in 2024

It’s been gut-wrenching to see so many ad people laid off this year. Yes, I know there are layoffs every year, especially at the end of the year around the holidays. But this year seems different.

We’re going through a seismic shift in the business. AI is on the rise, inspiring hope in some while thrusting fear into others. AOR is becoming a thing of the past. And budgets, along with salaries, are in a free fall.

This freelance life isn’t easy. You’re always hustling for work, even when you’re working. Many feel like?they’re on a 24/7 job hunt?with no end in sight. And if you feel this way,?things can get a little crazy. Especially between your ears.

To help other freelancers keep some sense of sanity, I’ve put together this list of tips based on my years of freelancing.

Treat your freelance like a real business

There are two ways to become a freelancer. Some go freelance because they want the freedom. Others find themselves freelancing because they were laid off or fired.

It doesn’t matter how you got into it, I suggest you work it like a business. Even if it’s only temporary until you find a new staff job, if you run your freelance as a legit business, you won’t stress out as much and you’ll have a better chance of success.

Write a short business plan

The first thing I'd suggest you do is write a one-page business plan. Don’t freak. It’s just a few paragraphs on how you’re going to market yourself, handle your finances and prepare for the future.

The second thing you should do is follow your plan on a daily basis. Read it every morning and sum up your day with a few notes every evening. It’ll help you stay on track.

Make a contact list

If you’re going to market yourself, you’ll need to put together an up-to-date list of agency recruiters, as well as agency friends and colleagues.

So, how do you make this list? Ask your agency friends for the names and emails of agency recruiters. You can also search on LinkedIn for recruiters.

Put your plan into action ?

Next, you’ll need to decide how and when you’re going to contact these people. I think you should split your contact list into 3 groups. Then, you can contact the first group during week 1, the second group during week 2 and the third group during week 3. This way, you're not contacting the same people every week. You’re spreading it out so your name and work will be familiar to them, but you won’t become a pain in the ass because you’re contacting them every 4 days.?

For recruiters, I'd suggest you switch between emailing them and messaging them on LinkedIn. And for your friends and colleagues, I think you should contact them the way you usually do, either by calling/texting/emailing or messaging on LinkedIn.

In addition to working your list, you should also search for work on LinkedIn Jobs, Glassdoor Jobs and indeed.?

Be your own CFO

Many of you may feel that you suck with money. Get over it! You’re running a business now, so you’d better know how to handle your finances.

If you’re working as a W2 freelancer, you’re probably having taxes taken out. So, that can be one less thing to worry about. But you still have to save money?for those weeks when you’re not working. So, try to put as much away until it hurts. And then put away a few bucks more.??

If you’re working as a 1099 freelancer, you can’t mess around. You'll need to save at least the percentage attributed to your tax bracket. Plus, some extra money for those weeks you’re not working. I know that’s big, but you’re the CFO of your business. So get to it.

If you don’t hear back, don’t go ballistic

Agency recruiters are busy as hell. Their jobs entail a lot more than just answering our emails. So, if you don’t get a response in what you consider to be the proper amount of time, don’t have a fit. They’ll respond if there’s a job there and they think you might be right for it. A few will also respond just because they want to. I think if you’re getting a 5% response rate, you’re doing great.

Know your worth

So, how much should you charge? If you know, great. If you don’t know, just ask your freelancing colleagues what the day rate/hourly rate range is for certain jobs, as well as for specific agencies.

Decide what you want to make and don’t sell yourself short.

Based on my experience, general agencies pay best, followed by digital/direct and then pharma. On the flip side, it seems that pharma has more jobs, followed by digital/direct and general.

Work your ass off and don’t bitch

This should go without saying. But, I’ll say it anyway. It doesn’t matter whether you’re a 10-year staffer or a one-week freelancer, you should outwork everyone in that agency. Why? Well first off, you’ll probably do the best work of your career. And second, that’s what you’re getting paid to do.

Supervisors and recruiters remember the person who outworked everyone else. Oh, and don’t complain about how hard you’re working. That’ll just kill?everything you’ve worked for.?

Know the difference between headhunters, recruitment firms and agency recruiters ?

Agencies can’t run without smart recruiters - both inside and out - who know how to put the right person in the right job. There are three types of recruiters. A Headhunter/Recruiter will work with you to find the job you really want - either freelance or staff. You’ll be hired by the agency and the agency will pay the Headhunter/Recruiter a commission. In my experience, this person may act like your long-term career manager because they’ll try to help you build your career, not just find a job.

A Recruitment firm can also place you in an agency job, but you’ll be hired and paid by the Recruitment firm, not the agency. The agency will pay the firm a fee that covers your compensation and the firm’s compensation.

An Agency Recruiter is an in-house person who works with specific departments to bring in the best candidates for their open jobs. They either find candidates on their own or work with Headhunters/Recruiters or Recruitment firms. Some of these in-house pros are solely recruiters, while others recruit and manage a department. They not only have a very important job, but also a very intense one. Please be nice to them.

No matter who you deal with, always be open, honest, respectful and professional. It’ll help you in both the short and long run.

Do other stuff besides looking for a job

I know how caught up you can get when you’re trying to find a job. But if you spend all your time looking for work, you’ll lose your mind. I suggest you schedule a few other things during the day that will benefit you.

You can do stuff like work on a personal project, learn a new skill, start a side hustle, take a quick day trip, go see a film, visit a museum or have lunch with a friend you haven’t seen in a while. Just do something that has nothing to do with looking for work.

Save for retirement. Seriously.

I know how tough it is to try to put money away when you don’t know when your next paycheck is coming. But you have to because you’re going to need it later on. And later on comes really fast.

Now, I want to let you in on one of advertising's little secrets: many of the big holding companies allow W2 freelancers to have and contribute to the holding company’s 401k plan.

This can be huge for you down the road. If you’ve ever worked or freelanced at an agency that was part of a holding company, you may already be in their 401k plan system or be eligible to join. So, while you’re filling out your paperwork on your first day, ask the HR person how you can get on their 401k plan. Every holding company has different requirements.

Get to know AI

Let’s face it, AI is here to stay. Some may embrace it, while others may fear it. However you feel about AI, I suggest you at least get to know it. Try it out. See how it may be able to help you in your life and career. You don’t have to become an AI evangelist. But I think we all should at least have a working understanding of AI, because it’s not going away.

Help others get work

This isn’t some karma thing where the good you do will come back to repay you. No, this is just basic decency. I believe everyone who wants to work, should be able to work. And if I can help them find a job, I’ll do it. It’s good for them, good for our business and good for the economy.

Well, those are my tips. I hope they can help make your freelancing less stressful and more successful.?

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