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How to Start a Freelance Business

by Roveen Anyango
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The economic situation of the world right now has seen a sharp rise in freelance work, the so called gig economy. Thus, there are a lot more opportunities in the freelance world than you are going to find in many other sectors.

A freelance business is a business which you start and run as an individual working as an independent contractor. This means, you bid for works and choose the clients to work for.

Here is how to get started in the business.

Define your purpose

The very first thing before starting a business is asking yourself what exactly you want from it. So, ask yourself the following: Is freelance a path to flexible working hours or a means to simply earn extra income? Do you wish to eventually become a fulltime freelancer? Is freelance the end goal or do you wish to use it as a stepping stone for something else?

Clear and measurable goals are a way to make you understand why you are getting into it so that you don’t get stuck along the way.

Consider your financial situation

Freelance, when done right, is a great income generator. However, before dropping everything to start a freelance business, first ensure that your personal finances are in order. Are you capable of spending a lot of money setting up the business and still living comfortably? Do you have skills and knowledge in the field you want to get into? If not, then you’d rather stick to your job or if not, learn first.

Identify your niche

Your skills and knowledge are useful in freelancing and therefore, you need to identify where they will be best utilized and for the right price. So, ensure that you identify what area of freelance you would want to focus on more to give yourself the best chance to succeed. If you are a graphics designer, for example, who would you like to work with – Corporate clients? Designing book covers for authors? If you are a writer, what do you want to write about – articles? And if so, what kinds of articles? If not articles, do you wish to write books for clients?

A niche helps you make the most of your skills while also charging rates that bring in profits as soon as possible.

Freelance, as with any business, needs, investments but more importantly, you need to know what you are doing to achieve success.

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