I Wish Someone Would Have Told Me This Before I Quit My Job to Freelance
It’s the Great Resignation! Time to chase your dream! (Right?!)
If you’re reading this, chances are you’ve been thinking about quitting your job to become a freelancer.
You’re not alone. We are in the midst of the “Great Resignation,” and more people than ever before are choosing to turn in their resignation letters to start their own business on the side.
Some (like me) already had a full-time gig and have decided to finally cut the corporate cord and go full-time with their dream.
Hear me out. Going solo has been an incredibly rewarding experience. However, there have been times during this journey where I questioned my decision to leave and was really uncomfortable with the uncertainty that freelancing brings.
I have learned a lot (the hard way) during this transition from being an employee to being the boss, so here is my list of 10 things I wish someone would have told me before I took the jump to freelance.
1. It’s Not All The Money In The World
Sure, if everything goes according to plan, being self-employed can be very lucrative, but what happens when it doesn’t? That’s right, nothing!
Ultimately you are your own boss. You have to be willing to take on all the responsibility that comes with being self-employed. Once you’re self-employed, there is no paid vacation time, sick days, or 401K matching benefits.
2. Taxes Suck
Yes, I know taxes always suck, but when you become a freelancer, you no longer have a company handling your taxes, which means doing them yourself. Far too many freelancers I have spoken to either don’t do their taxes at all or take way too long to get them done. The end result? Dolla, dolla bills straight to the government, yall.
You have to — I repeated — HAVE TO start off on the right foot with your finances!
3. There Are Many Niches To Explore
For some people, it’s all about landing that job at Google and working their way up the hierarchy until they finally snag that corner office and company car, but for others, it’s all about creating your own space.
The great thing about being a freelancer is you have the freedom to create something no one else has thought of yet.
This is also what makes it so scary. Literally, thousands of competitors are all trying to do the exact same thing you’re trying to do. You have to be ready to get in the arena and compete.
4. You’ll Be In Business For Yourself, But Not By Yourself
While it’s true that becoming a freelancer means you have control over your time and how much money you make, remember that there will be certain situations where someone else is calling the shots-like clients.
Unless you become a small business owner, chances are you will have clients, and their goals and dreams will be the end goal for your work.
5. You Will Need To Remind Yourself Of Your Goals — Often
If there is one thing I have learned while being self-employed, it’s that without proper communication, things can fall apart quickly. If you don’t communicate with your clients on a regular basis, chances are they have no idea what you’re actually doing for them.
This can be attributed to not only the clients but to yourself as well. Freelancing is very different than having a traditional 9–5 job, and it’s up to you to remember that and set deadlines, meetings, and the like. This is something that goes hand-in-hand with taxes; remember to set goals for yourself!
6. Working With Clients Can Be A Rollercoaster
For some people, working with clients can be the best thing in the world, but for others, it can be like swimming through a cesspool of grey sludge. You will have clients who become close partners in your business journey and others you will want to dump like a bad date.
This is one of the reasons to have your business properly set up; you can decide how much if any, client interaction you want to put into your business. If that’s not something you want, then don’t!
7. Keep Books And Invoices Handy
This might seem like a no-brainer, but you’d be surprised how many freelancers don’t keep good books or track their revenue and expenses. Freelancing can quickly become an overwhelming task if you’re not organized, and good books will help you overcome this by showing whether or not your business is profitable in the long run.
Another thing to remember is that you will have to pay estimated taxes each quarter, and if you don’t track your income, the government might charge you a hefty fine.
8. Be Willing To Work For Free (Sometimes)
As I stated earlier, not everything goes according to plan for freelancers; some months, everything hits at once, and then there are other months when you have more work than time to do it.
One hard lesson I had to learn was building a portfolio early on is key to long-term success. Sometimes that meant taking on a low-paying gig or even building some content for free to lure in a competitor.
There are plenty of Twitter-prenuers who will tell you to never work for free. For me? I had to put in some grind time to get it right.
9. You Will Get Lonely
Before I became a freelancer, I had the luxury of going to lunch with my co-workers and talking about work-related things. Now that I am self-employed, there are plenty of client calls and emails, but few if any of the social benefits that an office job offers. So if you don’t have friends outside of work, be sure to get out and socialize! Get creative and find new ways to stay connected to your peers.
10. Having A “Real Job” Can Be More Rewarding Than Freelancing
When I first started freelancing, I didn’t know that taxes would be so high that you had to track every penny you spent. This quickly became overwhelming, and I began to miss the days when all I had to worry about was showing up for work.
If you’re at a crossroads and not sure which road to take, I recommend looking for work where you can have the best of both worlds; working in an office but being able to work from home while earning more than what freelancing pays.
Overall, freelancing is a rewarding experience if you are up for the challenge. The path has been a wild ride from day one, and with plenty of twists and turns that I never expected.
In the end, going full-time freelance has been an exhilarating experience. I’ve had to learn how to balance time and not get overwhelmed, but in the end, it’s been a growing experience in all the right ways.
The best way to find out if you are ready for a life as a freelancer? Jump in and give it a shot! You never know what future you may find, and the alternative — a cozy corner office — is always there for you if you need it.
Brad Bartlett is a professional freelance B2B copywriter at Pipe and Pen Writing Services. When he’s not writing, he’s drinking way too much coffee and trying to avoid social media.
