12 Tips For First-Time Freelance Business Owners
*This is a collaborative post
If you’re thinking of starting your very own freelance business but you’re unsure where to begin then don’t worry, you have definitely come to the right place. Whether you’ve been planning it for years or you’ve recently come up with an incredible idea, you need to ensure you’re doing everything you can to make your business a success from the start. Luckily, there are lots of ways in which you can do exactly that. From putting together a business plan to hiring your first team members, the more you’re doing to succeed the better. With that in mind, here are 12 tips for first-time freelance business owners:
– Work Out What Your Business Is Going To Be Doing
One of the first things you need to do when it comes to starting your freelance business is to work out what you want your business to do. Although you may have a good idea of what this is, taking the time to write things out in great detail is vital when it comes to your success. Whilst writing everything out will take time, you’ll feel much better once you have a clear idea of how your business is going to make money. From pricing strategy to product development over the years, the more you’re writing down the easier your launch will be.
– Put Together A Business Plan
Once you know what you want your business to do and how you’re going to make a profit, you need to think about creating a detailed business plan. Although it will take some time to create a fully-functioning business plan, this will be something you can refer to whenever you’re feeling a little unmotivated with carrying on or when you’re looking for the next steps to take. Your business plan should include:
- An executive summary designed to sum up your plan in a few short sentences
- An overview of your business
- An analysis of the market you’re in (including your competitors)
- An operations plan that details how your business will run
- Details of the products and services you’re going to offer
- A detailed financial plan
- Your goals and targets for the years to come
For tips and tricks when it comes to putting together a business plan for the first time, you can visit this site here.
– Set Yourself A Start-Up Budget
Depending on the type of business you’re running, you’re going to need a certain amount of start-up costs. Whether you need to set up your website or you need to start production on the first batch of your products, you’re going to need to have a certain amount of money in place to allow you to get started. If you think you’re going to struggle to come up with the start-up budget, you may want to consider seeking out a start-up loan.
– Do Your Research When It Comes To Being A Freelancer
Another great way to prepare for being a freelancer is to do as much research as you possibly can. Whether that means researching how to do your own taxes, finding out how to create the perfect office space or looking into the essentials you may need to purchase before you get started, the more you’re researching the better. If you’re unsure and you’re looking for some tips, here is a guide to running a freelance business.
– Invest In Freelancer Insurance
When you first start your business you’re going to need to ensure you’re investing in freelancer insurance. Although you may never need to use it, freelancer insurance will cover things like your laptop and cybersecurity. Whilst you don’t have to sign up if you don’t want to, it is highly recommended by those that run their own business as you never know what could happen.
– Consider Setting Up A Website For Your Business
Depending on the type of business you’re going to be running, you may want to consider setting up your own website. Whether you’re going to be selling your products or advertising your services on your site, you need to ensure you’re building a site that is fit for perfect. This means thinking about a number of key areas.
- Who will be building your website?
- What does the page structure need to be?
- Do you need to write content and take photos?
- Where will you host your website?
- Does it need to be managed by an external team?
- How often will you be updating it?
If you’re looking for somewhere to host and manage your website, you may want to check out this site about managed WordPress hosting here.
– Think About How You’re Going To Direct Traffic To That Site
Once you have started to build your freelance website, you need to think about how you’re going to direct traffic to it. With so many different options when it comes to directing traffic to your website, you need to ensure you’re finding out which ones are the most beneficial to you. Whether that means focussing on Pay Per Click advertising or thinking about your SEO strategy, the more you’re doing to increase your views the better.
– Focus On Gaining ‘Fans’ On Social Media
Speaking of social media, you need to spend some time coming up with a strong social media strategy. Although there are lots of ways to gain followers, you need to think about how you’re going to turn them into fans. This basically means turning your followers into people that will talk about your business, support everything you do and recommend you to people that they know. They’re always engaged when it comes to your content. For a guide to turning your followers into fans on social media, you can visit this site here.
– Consider Outsourcing Tasks To Professionals
If you don’t think you’re going to have the time or the skills to complete certain tasks, you may want to consider outsourcing them to a professional. Whether this means outsourcing your social media or hiring someone to build your website for you, it’s important you don’t spend unnecessary time on tasks that other people can complete for you. Whilst it can be hard to let go of certain aspects of your business, often it’s better to hand things over to the professionals.
– Limit Product Development In Your First Year
During your first year, it may be tempting to bring out as many new products and services as you can but as you’re finding your feet, you need to ensure you’re limiting this as much as you possibly can. Take some time to get used to running your own business and only when you’re comfortable with how things are going should you consider expanding your range.
– Consider Using Video To Improve Your Reach
Video is a great way to improve your reach on social media and if you’re looking for a way to reach new people fast, this could be the best option. Take the time to introduce you and your business, giving a behind the scenes look at what you do.
– Attend As Many Networking Events As You Can
Finally, you need to ensure you’re attending as many networking events as you can. Whether you’re going to meet new people or you want to attend the seminars, events can be a great way to grow your business.
Are you starting your own freelance business? What do you need to do to ensure you’re as focused as you can be? What can you do to ensure your success? Did we miss anything off the list? Let me know your thoughts and ideas in the comments section below.
