When you have developed a skill for yourself and appreciate a flexible schedule, working as a freelancer can be a great way for you to meet your goals and apply your skills. But before you jump into the world of freelance work, you should make sure that you know what your life as a freelancer will look like. Here are a few important elements that you should keep in mind as you plan to work as a contractor.
Networking is Critical
When you have a stable nine-to-five job, you don’t necessarily have to do a lot of networking to move forward. But when you are a freelancer, your network is the key to your success. You want to utilize your network to share your success and make new connections that can strengthen your career. Do what you can to build strong connections with each client so they are happy to recommend you to their friends and associates. The stronger your personal network is, the easier it will be for you to find jobs doing the work you love and to be paid appropriately for your services.
How to Do Taxes
When you are freelancing as your income source, taxes can be a little more complicated. This is because rather than paying a portion of your taxes through your paycheck each month, you will need to set aside taxes throughout the year. You can set up an electronic quarterly tax-paying system through the IRS that can help you to take care of your tax burden appropriately. SEP-IRAs are ideal for the self-employed and freelancers. As you start planning for your taxes, it can help to talk to a tax expert who can help you to make sure that your bases are covered and your taxes are fully paid.
How to Manage Your Schedule
As a freelancer, a lot of your work is going to be dependent on your motivation and ability to schedule your time. Since you won’t have a boss to tell you when and where to work, you need to do that role for yourself. Make sure that you figure out a scheduling method that works for you so you don’t end up overwhelmed when your deadlines come up. Additionally, you want to think about when you do your best work, then you can make sure to work your schedule around the times that are most productive for you.
Your life as a freelancer can be incredibly fulfilling, but it can also come with unique challenges. As you start to face your first experiences as a freelancer, you can make adjustments to better suit your needs. You will find a method of working that makes sense to you and helps you to reach all your goals.
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