Changing times have offered people work flexibility. Young professionals have the advantage to choose the career they wish. People are increasingly focusing on work that meets their career objectives. Freelancers get the same respect as full-time professionals. Work from home gets the same opportunities as those who work from the office.
Organizations have decision-makers who seek out skills across borders. The fundamentals of work have changed drastically. There are so many instances around us where people have climbed the ladders of success, purely on the basis of merit. This is a golden era for freelancers as well.
Changing opportunities for freelancers
Freelance professionals have made a mark in art, writing, strategy, implementation, and even managerial roles. They are given opportunities to work on exciting projects with people from different countries. The experience and exposure available to freelancers have helped them in more ways than one.
However, freelancers need a strategy to make the most of the available opportunities. A plan will help them prepare for the projects that await them with open arms. Without the right blueprint, they might miss out on the benefits that they would have got. The present age motto is to experience a dynamic career with different employers rather than a long one with a single company. People have become more welcoming to entrepreneurship as well.
Perspective towards freelancers
Earlier this was not the scenario. Freelancers found it rather difficult to lay their hands on lucrative projects. They were not considered dependable then. However, things have changed for the better. Organizations do not want to invest in a white elephant. They look to hire freelancers to take care of certain projects for a limited period of time.
Youngsters are increasingly opting for freelance careers. There is much more flexibility and adaptability in this model of working. Freelancers can work more on certain days and skip work for one or the other reason. The main reason people started opting for freelancer careers is to enjoy work-life balance. Freelancers can give more attention to family and take breaks for
Freelancing Life-hacks for young professionals
In order to survive and thrive in the modern world, freelancers need to adopt a contemporary approach. Here are some life hacks that will turn out to be useful in the long run.
#1 Arm yourself with in-demand skills
There is a high demand for certain skills in organizations. The present workforce in organizations does not possess the latest skills. Hence, human resource professionals hire freelancers to execute projects demanding those skills. Areas like data analytics, programmer evaluation, actuarial, business intelligence, murex, business analytics, legal, regulatory, and quantitative analysis are some of the in-demand skills at present.
Freelancers can focus on a niche skill and learn everything related to it. For instance, data analysis for the hospitality industry. This will help freelancers gain a hold in the industry. Hotels will take the help of such freelancers who have in-depth experience in the area. On the other hand, freelancers can learn everything related to a specific industry. One can focus on event management and learn everything required to organize and manage an event. There is a demand in organizations for a freelance event manager who can handle an event from start to finish.
Fees charged by freelancers change depending on several factors. Freelancers can charge on an hourly basis or on the basis of the project. The fees depend on geography, competition, material, and demand for the skill. Freelancers need to keep a tap on the market to ascertain the rates and charge accordingly. They can make use of new-age tools like online invoice generator to prepare invoices for clients. This makes a good first impression on the clients.
#2 Build a Strategy to tap freelance opportunities
While it might seem that freelancing is random and unorganized, it is not so. In order to be successful as a freelancer, professionals need to build a strategy and stick to it to tap available opportunities in the industry. In the present times, many young professionals have switched to freelance careers. However, typically one needs to have at least 10 years of experience to become a valuable freelance resource for an organization.
Freelancers need to be passionate about their work. Freelancing should not be a second option or a resort if one has not been able to get a permanent job. Freelancers need to study hard. They need to have an inclination towards the field they choose. Even while working, one needs to keep on studying different resources and research to add value to their portfolio. As the world is changing at a great speed, in-depth knowledge about a subject will help freelancers survive.
Freelancers need to learn how to market and sell their skills. Young professionals need to work on their appeal. If you wish to become a freelancer ten years down the line, you should start preparing for the same as early as possible. Prepare a plan by talking to experienced freelancers. One needs to build on the experience by opting for projects and careers that meet the objective. Freelancers need to have a strong network and good work experience. As freelancers are ultimately entrepreneurs, they need to have strong entrepreneurial skills to be successful.
#3 Decide the Right Time to become a freelancer
You cannot wake up one fine day and say that instead of going to the office today, you will start working as a freelancer. Freelancing as a career requires planning. You need to have a strong network, opportunities to tap projects, and adequate finance to survive in the initial phase.
Instead of starting your career as a freelancer, experts recommend that one should spend a few years as an employee of an organization. This helps professionals learn and gain experience. People prefer to hire freelancers who are mature and knowledgeable. Permanent employment gives credibility and respect. It even helps the person save the required money to start on his own down the line.
The early years of freelancing are tough for some professionals. Savings help survive the erratic income in the initial years. Thus, it is necessary to plan finances beforehand to jump into the freelancing world. Before making the switch to freelancing, look for long-term contracts to gain stability in income. Also, freelancing is all about networking. It is not recommended to sever ties with the organization while making the switch. You might want to freelance for the same organization in the coming years.
#4 Delegate Administrative Tasks
When you manage a business, you occasionally have to set aside time for unpleasant administrative activities. Making sure you remain on top of tasks like managing taxes or paying bills is vital since it could prevent you from having a lot of difficulties in the future.
Hiring outside assistance for specific jobs that aren’t your strong suit is a fantastic approach to accomplish this. Consider employing an accountant or bookkeeper, for instance, if accounting is one of your weak points in order to help you manage your company. They can ensure that everything is filed properly, serve as an additional set of eyes for all of your financial dealings, and ultimately help you avoid any potential problems.
When you engage with a specialist, they may provide you with more than just their knowledge; they can also provide you with guidance on best practices and organizational techniques.
#5 Time Management
We can never be certain of how long a task will take us to finish. While some of us overcommit, others tend to underestimate our abilities. Making precise time estimations is made easier with the fudge ratio. You must write down estimates for a few jobs, do them, then compare the results to the estimations in order to calculate your fudge ratio. You won’t overbook your time if you know what your fudge ratio is. Always allow 25% to 50% more time in case something goes wrong. You will successfully achieve your deadlines in this manner each time.
Toggl allows you to keep track of where you spent each minute of the day. You can track how much time you spend on each project and work using Toggl, both online and off.
#6 Try to Stay Away from Distractions
Getting sidetracked while working from home or as a freelancer may be common. At home, there are usually conversations going on, and it is simple to become distracted and join in. When your phone rings while you are entirely immersed in an activity and your focus is lost, this can happen.
You can thus plug in headphones to reduce background distractions while managing your freelance work. Additionally, you need to disable all desktop alerts and put your phone in priority mode so that only a select few individuals may call you and send you notifications. Apps like SelfControl, Anti-Social, and RescueTime are also available for download.
#7 Socialize, Socialize, Socialize
Working from home or as a freelancer may often lead to being distracted. At home, conversations are frequently in progress, and it is easy to get sidetracked and join in. This can happen when your phone rings while you are completely engrossed in an activity and you lose attention.
Thus, you can use headphones to block out surrounding noise while managing your freelancing. In order to limit the number of people who can call you and send you notifications, you should also turn off all desktop alerts and set your phone in priority mode. You can also download programs like SelfControl, Anti-Social, and RescueTime.
#8 Know your Regenerating Agent
After lengthy workdays, we are all fatigued and worn out. Discover a method for reviving oneself that also aids in handling freelancing jobs. It could be anything that gets you going, such as listening to music, taking a hot shower or a power sleep, or brewing a potent cup of coffee.
Taking breaks between tasks will keep you engaged and determined for the rest of the day. Install Sociidot in your pocket; it is referred to as a life coach. You’ll be able to better visualize and maintain focus on your objectives. Additionally, it will encourage you to complete things on schedule. Using Sociidot as a guide can help you write a better and more fulfilling life story.
The Road Ahead
Freelancing as a career offers flexibility and freedom at different phases. The best part about freelancing is that there is no age limit to becoming a freelancer. Even people who have retired can become freelancers to consult brands and organizations. However, it requires consistency and grit to make the freelancing model a successful one.
It’s not for everyone to choose to freelance. However, it is a development and a choice. You want options in life, so prepare yourself to be in the best possible position to seize those possibilities when and if they present themselves.
Author Bio
Sakshi Baid works as a Product Associate at Refrens.com – Online Invoice Generator & India’s most powerful platform for freelancer’s growth. She has worked for some renowned companies as a Brand and Digital marketing associate.