Freelance Essentials is a big step to break away from your employers to become a freelancer. It may have never entered your head – however, if it has, it may not be as simple as you first thought. While it can most certainly be liberating and could turn out to be highly profitable, freelance work is not for the faint-hearted, nor for those who worry about inconsistent paychecks. 

If you are seriously thinking that this road is for you, you will need to get your head around a few very important factors before making the jump from employed to the role of freelancer. 

Here are 3 Freelance essentials That You Must Consider When Deciding to Go for it:

1. How you are going to attract customers 

One of the main issues that you are going to face is how you are going to attract customers. Without customers, there will be no money coming in, so it is vitally important that you do your research into the best methods of gaining the attention of your target market.  

Of course, you can get some professionals on board to help you with this. This will mean that you will be paying for their services out of your business launch funds, and you should ensure that you can afford this service. You should also keep in mind that this may not be a one-off payment as you may need their services over a long period of time or even indefinitely, depending on what type of business you will be running and how reliant you will be on returning trade. 

2. Protecting your business  

One of the Freelance essentials that many freelancers forget to take into account is the protection that their business requires. Business insurance isn’t just for the big boys but is for every business, no matter how large or small or how many employees it has or hasn’t got. This is because just one lawsuit from a customer, employee, or competitor could wipe out any financial security you have built for your business.  

However, by including some professional liability insurance alongside your other business insurance, you could provide you with an additional safety net. This is because it can help cover costs brought about by misrepresentation or accusations of negligence, which can damage your business financially and your reputation. 

3. Keeping your accounts together 

You will also have to be aware of the fact that your financial records will need to be kept in order. This is fine if you are used to bookkeeping or have a head for numbers; however, if you are not or feel that your business is likely to grow exponentially fast, then seeking the services of a qualified accountant could be your best move. Therefore keeping your accounts together is one of the most important Freelance essentials.

A qualified accountant will be able to advise you on business purchases, help put together your yearly accounts, provide insight into your taxes, and ensure that you stay compliant with your payments. 

If you find that you are short of time in your schedule when it comes to attending meetings with your accountant, you may find that hiring the services of a virtual accountant is the way to go. These accountants tend to do everything online rather than in person, including holding meetings that can be performed over video link. This is so it cuts down on traveling time for both them and their clients, and yet they can still perform the required duties.