Finding yourself in a job that doesn't feel fulfilling anymore can be tough. The feeling that you're stuck in a rut, where you're not learning new skills and you're not getting any proper work done, can be a real detriment to your overall happiness. But what if there was something you could do to change that? Well, there is - it's called freelancing.
There are a lot of factors to consider when starting a new business, but one of the most important is whether you are ready to go freelance. Freelancing can be a great way to travel, work remotely, and earn a good income, but to be successful, you need to make sure you're ready to take the leap.
If you're not yet sure, here are five signs that you're ready to take the plunge...
1. Do you have the knowledge and skills necessary to succeed as a freelancer?
The ability to ask the right questions, to learn how to do things yourself, and the confidence to make your own decisions on a daily basis are all essential freelancing skills. Are you comfortable with that level of independence?
If you love learning new skills, then this shouldn't be a problem. If, on the other hand, you get easily frustrated when things don't work out as planned, this might be a good time to practise dealing with problems on your own.
2. Do you have the financial resources necessary for freelancing?
Once you have the confidence and skills to set up as a freelancer, your next challenge is to ensure that you have enough money in the bank. Finances can be tough to manage as a freelancer - you need to both top up your client work with other income streams, while also paying yourself. This financial responsibility can be a shock to some freelancers' systems - are you ready for it?
If your answer is yes, create an actual budget and stick to it for at least a few months before making the leap. This will give you time to see how much money you should earn and what your outgoings really are.
One common reason freelancers fail is that they have not yet got enough financial stability to support themselves and their new business. This can be especially tough when starting off, to the point where many people opt to return to full-time employment rather than risk everything.
3. Are you ready to make sacrifices for your new business?
Going to work for an employer can often be associated with long commutes, leaving you with little time to relax. This can lead to stress and frustration, which is a recipe for problems. But by going freelance, you will make it a priority to work when it suits you. You're not going to sit in your office with an employer breathing down your neck - it's now your decision to take control of your own workload. Can you handle that?
What might help you is to set a start-date. Decide on a day when you're going freelance and start planning to work those extra hours in the evenings and mornings. This will give you time to ease into it and make sure that everything runs smoothly before leaving the security of an office job behind.
4. Do you want the freedom of freelance work?
When you're employed by someone else, one thing that can be tough is not having the freedom to choose what workload you take on each day. If you have an unpleasant morning, or a deadline gets pushed forward, it affects your entire day. You have little control over your own situation and can feel downtrodden as a result.
Freelancing gives you that freedom. You can choose when you take on a new work brief, and the levels of commitment. If you don't want to do something, you can turn it down without having to worry about the consequences - this is a very empowering feeling!
Or, to look at it in another way: can you work on your own without supervision?
If you're able to work from home or from the cafe down the road, and even work from other people's offices, this is a good sign of confidence. If, however, you feel important tasks should be given over to someone else, this might be a good time to rethink things.
5. Do you have the right support?
The first few months of freelancing can be hard - it's a completely different way of working than being in an office environment. There is a lot to get your head around, and there will be times when you feel completely lost.
But with the right support, everything becomes a lot easier. Whether you join an online community or get in touch with other freelancers in your area, there are plenty of ways to find people who can help you succeed - but you need to seek them out first.
So, are you ready to go freelance?
Setting up as a freelancer is one of the most exciting things you could do as an entrepreneur, whether or not you're employed. But it's also risky - especially in the beginning.
Depending on the answers that you gave to the questions above, now might be the perfect time for you to take the plunge and become a freelancer. But if you're not ready, there's no rush! Take your time and use these five signs to work out whether you're ready. You'll know when it's the right time.
