In this current state of economic realities, it is becoming more common for people to take up freelancing jobs and make them into a full-time job – or at least a job that pays some money. The varieties of jobs available are numerous, and some people even earn more than enough to support themselves and their families. One of these gigs is freelance bookkeeping.
When you first look at it, this may seem like a regular accounting job, with the only difference being that you are doing it from the comfort of your home or makeshift office. The reality is more complex though, because it adds many more responsibilities and things you need to consider. However, do not go into the field unprepared and stressed – take a look at some of the considerations to keep in mind when getting into freelance bookkeeping.
Get to Know How Much you are Worth
This might be challenging to know at first, especially if you have not had a formal job before. However, you can still work on an estimate; you probably have some health benefits you pay every month, and you are living in a certain area whose rent you know. You also likely have a certain lifestyle you already live in, and expenses you have on your monthly budget.
When you take into account these factors, as well as your own working experience, you can then calculate an hourly rate. You might need to discount the rates during the first few months in order to maximize on your freelancing experience, but work towards a goal in mind of getting to those ideal rates.
Whether you have a Workspace
Many freelancers assume at the beginning of their work that they can operate as efficiently from their beds or kitchens as they can in a typical office. However, you will be surprised to know that this is a classic recipe for burnout, so it is essential to dedicate a certain space as your office – whether it is a spare room of the house, a tax-compliant home office, a co-working space, or a library.
Co-working spaces can seem crowded at first, but they actually have plenty of benefits when it comes to raising overall productivity. You will be able to complete more jobs, focus more efficiently, and feel healthier overall due to a better work-life balance.
Whether you are self-Motivated
When you have a traditional job, there are many legitimate pressures you will experience. However, the story is slightly different if you are a freelancer, because it is only you that expects to get your work done – not even your clients can tell you that.
That raises the most important question – whether you are self-motivated enough to get your projects done. If you are the type of person that needs some extra encouragement, then working alongside others might prove to be useful.
Having a Portfolio or Website to Market your Services
This goes for any freelancing gig – if you want to get into it on a full time basis, then it is likely that you have already identified clients you will likely work with during your first few months. With that said, it is also good to be flexible, just in case one of your loyal clients decides to cut ties for any reason.
Before getting into it full time, ensure you optimize your blog, social media accounts, website, and anywhere else you expect clients to locate you. They should also find your resume and portfolio easily, and your work history as well. You can sign up on online platforms like Dormzi for freelance bookkeeping gig.
Be Comfortable to Negotiate your Price
It is important to be honest at all times – there are instances, especially during the early stages of your freelancing, where a potential client wants to work with you but they cannot pay you because of your fees.
During these times, you can decide to take them at a discount and build your working experience, but you need to be careful – if you do this all the time, it is easy to fall behind your own needs. This will results in tough conversations, and some clients will not want to work with you anyway – but it is still important to be firm and polite in order to get your work’s worth.
It can be difficult navigating the freelance world at first, even for freelance bookkeepers. However, you can improve your readiness for it through these tips, and make sure that your work is as smooth as possible.