How to Transition From Full-time Employee to Freelancer?

So you have been toying around the idea of giving up your current job and become a full-time freelancer. But when would you know it’s the right time to make the leap? Are you prepared to do the leap? Well, you just need to look a little closer on the following pointers in order to make a successful transition.

Advance preparation- To have a seamless transition, you primarily need to prepare ahead of time. Preparation may include plunging into the freelance world prior on deciding to take full-time freelancing. It’s quite difficult to build from scratch so it will be much better to have an already-built foundation.

Have a clear goal in mind, set a timeframe, and keep on moving forward- Don’t just decide on going into freelancing impulsively. Treat freelance transition as a serious business. Included in the planning stage is identifying your goals and setting timeframe. This would serve as a tone of your business. Remember that you will less likely to succeed in the freelance world if you don’t even know where you are going. I’ve heard a saying once “Goal without a deadline, becomes only a dream”, so keep that on your mind.

Analyze the numbers- Changing job involves lots of numbers and computations. It may include your business expenses, insurance and healthcare policies, taxes, retirement plan and many more. Analyzing numbers is imperative for business success. If you aren’t good in math, better seek help from your peers or other business-affiliated authorities. Remember that without firm grasp on expenses and revenue, you will more likely to be surprised by the cost.

Consider your financial needs– Are you aware of your current financial need? Will your freelancing career provide you enough money to sustain your daily needs? Remember that the transition from full-time employee to freelancer will greatly affect your lifestyle. Once you decided to go on freelancing, everything will be different.

Diversify your source of income- This is in connection of the latter point. If you know one freelance job wouldn’t be capable of earning you a living then you must find more than one job. Calculate and identify the real amount of finances you are living on. Take note that freelancing doesn’t bring a consistent paycheck.

Assess Possible Lifestyle Changes- Perhaps one of the reason you wanted to switch into freelancing is the thought that doing so can give you freedom. Yes, maybe freedom from your annoying bosses. But many freelancer would attest that there are great amount of stresses and pressure that may not be obvious looking from the outside.

Build a Network- It’s hard to be a freelancer, but it’s harder if you got no companion. If you wanted to live an easier freelance life, building a good network can be a great help. Surround yourself with individuals who can be your asset and help you improve your own business. These expert may include an attorney, insurance agent, tax expert, marketing developer, web developer, referral business and many more, but mainly depending on your primary line of work as a freelancer.

Transition from a full-time employee to freelancer can be exhilarating and terrifying. Nevertheless, the work and flexibility can be rewarding. You just need to be prepared before plunging into freelance landscape in order to succeed.