Estimated reading time: 7 minutes
by Lance Cody-Valdez
Freelancing comes with a long list of benefits. For one, it provides an opportunity to work in a field that you’re passionate about. It also comes with unmatched freedom and flexibility, since you can pretty much work on your terms. And there’s no limit to how far you can take your freelance work if you’re willing to put in the time and effort.
These days, technology has enabled people to work freelance in a wide array of industries and niches. More and more workers are also choosing to forgo their traditional nine-to-five jobs and work as independent contractors full-time. If you find yourself wanting to explore the possibility of turning your freelance work into a full-fledged business, then you’ve come to the right place.
OpenIGO thrives off of helping individuals build promising and fulfilling careers. That’s why this article will list these nine practical tips for how you can prepare for your freelance business and achieve your goals along the way.
Do you want to know more about the competencies required for a variety of UN Internships and Jobs? Then look no further: Get a copy of our ebook “Landing your dream job at the United Nations” today!
In pursuit of its mission, the OpenIGO network has developed a comprehensive eBook, as well as support and guidance services, with the aim of highly increasing your chances of success in these competitive selection processes. These services include revising your UN Jobs application documents (Curriculum vitae/Resume, Cover Letter) and a mock interview, as per the original UN Jobs model.
We have already helped dozens of candidates become UN Professionals and we can also assist you in passing this competitive selection process!
For more info, access:
UN System Jobs: Products & Services
#1 Determine your niche
Many entrepreneurs think that the more services they can provide clients, the faster they will be able to grow their business. But it usually doesn’t work out that way.
Determine what you want your specialty to be, and maintain it for at least the first several years of your freelance business. This will help you to hone your craft and establish a strong reputation as a leader.
#2 Find where you can outsource
Time is limited, and it can seem to move especially fast when you’re trying to build your business. Don’t try to be a hero by doing everything yourself. That will only end up hindering you from growing your business.
Think of any tasks or projects for which you lack expertise or interest, and consider outsourcing them to other professionals who can do them quicker and at a higher quality. In no time, you’ll feel the stress falling away and your productivity rising.
#3 Get all the equipment you need
Having the right tools available makes a world of difference, no matter what kind of business you’re trying to build. Research the latest software tools that can help you communicate, collaborate, manage your finances, and handle other day-to-day tasks more efficiently.
Also, consider any equipment worth investing in that can keep you healthy and productive. For example, an ergonomic chair can do wonders for helping you maintain spinal health.
The right desk will allow you to work comfortably and keep essential items at hand. And a quality headset with a built-in microphone can help you drown out distractions and communicate more clearly during virtual meetings.
#4 Establish your rates
One of the most important steps you will take when converting your freelance work into a business is setting your rates. Many new freelancers are under charge for their services as they’re trying to build their client base.
However, as you are growing into a business, you need to seriously consider what you want to get paid for the time and energy invested.
While this is a critical step, don’t be anxious about it. You will probably need to adjust your rates along the way, so just try to establish a solid starting point for now.
#5 Create a business plan
A good business plan helps you prepare and dream for the future. It can also help guide all business decisions as they cross your path. And if you ever need to seek funding from investors, it will play a major role in determining whether or not you win them over.
Your business plan should always be realistic but also push for growth. Create a plan that includes goals, targets, expenses, milestones, and any other relevant information. Doing so will arm you with strategies and inspire you to keep moving forward.
Do you want to make sure your application for UN selection processes is adequate in terms of your competencies (such as leadership) and other things?
At OpenIGO, we have analyzed documents from dozens of UN candidates. This service is confidential and your files will be deleted from our systems when the service has been completed.
Would you like to know more about our application review service? Access:
#6 Figure out your target clients
If your freelance work is going to be a full-time business, you need to ensure you are working for clients for whom you want to work. Your working style, schedule, expected pay, and the work itself must all be considered when determining who your target clients will be.
Keep these factors in mind so that you can build a client base that empowers the business you envision.
#7 Always prioritize retainer work
When building your client base, you will want to focus most of your energy on anchor clients. These are the clients that will provide you with consistent, well-paying jobs.
You can attract anchor clients by offering discounted rates for a high volume of work, which will prove well worth it when you consider the reliability of income.
Always prioritize your anchor clients above all others because they will serve as the foundation of your business.
#8 Network all the time
Networking is another critical step on your journey from freelancer to full-time business owner. You never know when you will meet your next business partner, employee, client, or mentor.
But you have to put yourself out there to make meaningful connections. Becoming a member of your local chamber of commerce, engaging on various social media platforms, and simply being friendly around town can help you meet people and establish your reputation in the industry.
#9 Seek advice
Very few things provide more value to a career than a good mentor. Mentors give professional guidance and are an excellent sounding board for ideas.
They are also an amazing source of information for your profession. But above all, mentors can offer invaluable emotional support during the ups and downs of business ownership.
Look for a business mentor who will push you toward growth by challenging you and providing you with honest feedback.
Final Thoughts
If you’re ready to transition your freelance work into a full-time business, there has never been a better time to dive in. Just make sure you take all the necessary steps to lay a solid foundation and be vigilant about executing your strategies along the way.
Consider the tips above, and remain open to other methods that will help you build a company that wins in the long term. After all, you’re just beginning your journey; you still have a lot to learn!
With that in mind, check out our eBook, “Landing your dream job at the United Nations”, which will help you develop all competencies necessary to land your dream job at the United Nations System. It will introduce you to the complex world of the United Nations and it will guide you through all the stages of the selection process. Access:
eBook – Landing your dream job at the United Nations
