Leaving your job and stability for another traditional job is scary.
Now leaving your traditional employment to venture into the uncertain world of freelancing may seem dreadful.
But all you have to do is nurture your skills and sell them.
Freelancing can also be a wholesome experience if you put in the work. You get to choose your working hours and seek that work-life balance many dream about.
However, before jumping into the process of starting a freelance business, you need to overcome some of the common fears crippling new freelancers.
This article will walk you through common fears of starting a freelance business and how to overcome them.
1.Fear of Failure?
What if clients don’t like my work?
What if I can’t get clients at all?
What if there are no profits?
Every freelancer has probably asked themselves these questions.
As you choose a new professional journey, you expose yourself to uncertainties. The chances of failure are higher than in your previous job. But so is the probability of success.
We advise you to work smart. Start by giving it your all, then set objectives and how to achieve them. SMART goalswill get you to your targets faster and realistically.
However, you have to accept that things won’t always pan out as planned. It’s crucial to prepare for all eventualities.
Ask yourself, “What is the worst that can happen?”
Doing that will help you brainstorm the worst scenarios, giving you a headstart on finding solutions before anything happens.
2. Fear of Not Getting Paid
The subject of money is probably the most crippling of all fears.
Freelancers face uncertainties in the market, considering most of their agreements are simple and probably start with a handshake and goodwill of parties involved. This makes it possible for people to break such gentlemanly agreements.
After all, a conversation isn’t a contract.
But once you start worrying too much about deals gone wrong, you will likely hold back your freelancing dreams.
Remember, every career has risks. Ask yourself these essential questions before starting your freelance business?
- How much is fair and profitable for your business?
- How will I get paid?
- Who will you get paid on time and avoid running after payments?
- How will you protect your business from clients who disappear after receiving the final project output?
The answers to these questions will depend on your type of business. You may want to get a financial advisor if you are unsure about your answers.
Most freelancers start with secure payment systems like escrow which commits their clients by taking an agreed deposit before they start working. Once the work is complete, and everyone is satisfied, the funds are released to your account.
3.Dealing with Indecisive Clients
You have probably heard other freelancers complaining about the clients who keep changing the project scope last minute.
It helps knowing no business lacks those pains.
However, as a new freelancer, you will likely have a run-in with one too many such clients, especially if you work in the design, writing, marketing, or programming fields.
Make your projects specific and demand the same from your clients. It helps to use a platform or a contract that clearly states the project scope.
4.Fear of Irregular Pay
While freelancing can be lucrative, you have to recognize that it lacks some classic benefits of traditional employment.
Things like a regular-fixed check and constant workflow are not guaranteed.
We all have those must-pay bills, social security, and insurance premiums. This fear is not irrational because irregular pay can damage your finances.
It’s normal to be wary of giving up the guaranteed monthly paychecks. But look at freelancing as an opportunity to grow in your area of expertise.
When it comes to your regular bills, start with a backup plan in the form of savings, which can keep you afloat as your business picks up.
Experienced freelancers will tell you to start freelancing part-time until you establish a dependable customer base.
Conclusion
Few things are more important than doing something that satisfies and excites you and being able to control much of it.
Don’t be afraid of diving into freelancing because you are afraid of failing, not getting paid, stubborn clients, or irregular pay.
Your freelancing journey might not be a smooth ride, but through focus and determination, you can navigate towards professional freedom.