Are you embarking on a freelancing career? Do you get people telling you it’s going to be touch, asking you what makes you think your business is viable or you’re not a business owner, you’re just a freelancer? Believe it or not, if you freelance, you’re literally running your own business. Whilst some consider entrepreneurship a business with staff and a high profitability product, the truth of the matter is that a freelancer, a business owner or entrepreneur are exactly the same thing – someone running a business for profit.
Who can start a freelancing business? Basically anyone selling any service or product who wants to be their own boss. Whatever your skills and expertise, you can be your own boss. If you’re an architect, a graphic designer, bookkeeper, photographer, virtual assistant, videographer, accountant, coach, you can be your own boss. It’s highly advisable that you should choose a craft or product in demand but not absolutely essential. Sounds like a contradiction but a craft in demand will help you get started very quickly. If your craft is not in demand, you’ll have to work harder at marketing your business. You’ll need a unique selling point that sets you apart from the competition.
Regardless of your business model, services or product, your clients are not your employees. You have an agreement with your client but that’s not an employment contract. However, bear in mind that a business agreement is only legally binding if there’s a written, signed agreement, preferably prepared by a lawyer or solicitor. If you want to take your new career seriously, you cannot dispense a legally binding agreement. The agreement can be a terms of service or terms and conditions. Within your Ts and Cs presented to the client, there should be clauses that protect your business. These include non-disclosure, confidentiality, fees and payment terms.
Freelancers have their own reasons for wanting to be their own boss. Isn’t it great to then find out so many perks in a freelancing career? You can pick and choose when, where and whom you work with. You have sole charge of your salary and have complete authority to give yourself a rise. Freelancers can enjoy relative freedom. Restrictions will be stipulated in client/service provider agreement. As long as both parties understand and remember what they’ve agreed to, freedom can be limitless. Always ensure any agreements or contracts are either drafted by a legal expert or at least reviewed by one.
If you’re a freelancer or are embarking on a freelancing career, we’d like to hear from you. SG
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