A Comprehensive Guide for Freelancers | Viktoria Nedelcheva | Skillshare
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Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

    • 1.

      Welcome

      1:13

    • 2.

      Identify Your Expertise

      4:13

    • 3.

      Select Your Niche

      4:06

    • 4.

      Craft a Unique Value Proposition

      3:56

    • 5.

      Stay Organized - Introductionary Words

      2:59

    • 6.

      Set up account

      1:40

    • 7.

      Chart of accounts

      3:08

    • 8.

      Invoices

      2:31

    • 9.

      Invoicing - behind the scene

      1:50

    • 10.

      Bills

      2:59

    • 11.

      Bank Account

      1:41

    • 12.

      Categorization

      4:13

    • 13.

      Reconciliation

      1:58

    • 14.

      Reports

      4:51

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About This Class

In today's dynamic job market, the concept of traditional employment is changing. More and more professionals are seeking the freedom and flexibility of freelancing. Freelancing offers an incredible opportunity to turn your skills and passions into a sustainable career. However, the path to freelancing success can be daunting, filled with challenges, and overwhelming choices. That's where this course comes in - to equip you with the knowledge and tools needed to confidently step into the world of freelancing.

This course is designed to guide you through the exciting journey of becoming a freelancer.

You’ll learn how to:

  • Identify Your Expertise
  • Select a Niche
  • Create a Value Proposition
  • Stay organized and efficient in your freelance work.

By the end of this class, you will be well-prepared to embark on your freelancing journey with confidence. Let’s get started! 

Meet Your Teacher

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Viktoria Nedelcheva

Small Business Owner and Content Creator

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Level: Beginner

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Transcripts

1. Welcome: In today's dynamic job market, the concept of traditional employment is changing. More and more professionals are seeking the freedom and flexibility of freelancing. Freelancing offers an incredible opportunity to turn your skills and passions into a sustainable career. However, the path to freelancing success can be daunting, filled with challenges and overwhelming choices. That's where this course comes in to equip you with the knowledge and tools needed to confidently step into the world of freelancing. This class is designed to guide you through the exciting journey of becoming a freelancer. You will learn how to identify your expertise, how to select a niche, how to create a value proposition, and how to stay organized and efficient in your freelance work. By the end of this class, you will be well prepared to embark on your freelancing journey with confidence. Let's get started. 2. Identify Your Expertise: Freelancing can be defined as a powerful and flexible career path, offering individuals the opportunity to take control of their professional lives. The biggest advantage of freelancing lies in its ability to break free from the constraints of a traditional nine to five job. It grants you the freedom to set your own schedule work from anywhere in the world, and choose the projects that align with your passions and skills. The prospect of being your own boss is undoubtedly appealing. But you should know that with great freedom comes great responsibility. One of the first steps on your freelancing journey is identifying your core skills and expertise. It's a moment of introspection where you take stock of what you do best and what you're most passionate about. Your skills may range from graphic design to content writing, from web development to social media management. And knowing your strength is the foundation upon which you build your freelancing career. Let's assume you are a marketing professional who is eager to transition into freelancing, and you're taking the time to identify your core skills and expertise to lay a strong foundation for your new freelancing career. You should begin by taking a moment for self reflection. You can do that by making a list of your skills and experiences, including your educational background, work, history, and hobbies. Then jot down your strengths such as copywriting, social media management, and data analysis. You also can note your passion for writing and your knack for crafting compelling content. Next, you can seek feedback from colleagues and friends have worked with you in various professional settings. Ask for their honest opinions about your strength and weakness. You might be pleasantly surprised to find that your colleagues consistently commend you for your writing skills and your ability to create engaging social media content. This feedback will confirm your self assessment and provides valuable insights. Then you should create a comprehensive skill inventory. You just categorize your skills into primary, secondary, and tertiary categories. Your primary skills can include content writing, social media management, and data analysis. Your secondary skills encompass e mail marketing and search engine optimization, for example. While your tertiary skills can include graphic design and video editing. To make an informed decision, you need to research the market demand for your primary skills. Explore freelancing platforms, job boards, and industry specific websites to identify where your skills are in high demand. For example, your writing and social media management skills may be sought after services in the digital marketing sector. By following these steps, you can successfully identify your core skills and expertise. You can find where your strengths lie and you can move forward. The self discovery not only sets you on the right path, but also provides clarity and confidence as you embark on your freelancing career. 3. Select Your Niche: Once you have identified your core skills and expertise, the next step is to determine your niche area of specialization in the vast landscape of freelancing. Specializing in a niche is like finding your corner of the market where you can shine. Think of niche as your professional playground where your skills are most in demand. Choosing a niche allows you to become an expert in a specific area, making you a sought after professional in that field. Whether it's a healthcare writing, digital marketing, landscape photography, niching down enhances your marketability and opens doors to a more focused client base. We still assume you're a marketing professional. Start researching potential niches within your primary skills of content writing and social media management. Explore various options such as health care content, e commerce, product descriptions, B2b, social media marketing, and travel block content. Take note of the demand, competition and your personal interest in each niche. As you evaluate your options, you can reflect on your passion and market alignment. You may recognize that while there is a demand for health care content and B to B social media marketing, your true passion lies in travel and adventure. You have always loved writing about your travel experiences and exploring different destinations. Taking all factors into account, you decide to specialize in travel and adventure content writing. This niche is not in high demand, but it resonates with your love for exploring new places and sharing your experiences. One more reason for your decision is the fact that this niche is not highly competitive. You are also excited about the creative freedom that this niche offers, allowing you to craft engaging travel narratives and share your passion with others. With your niche chosen, you now focus on building your expertise in travel and adventure content. Immerse yourself in travel blocks, study destination marketing trends, and start developing a portfolio of travel related articles and social media campaigns. This specialized knowledge positions you as an expert in the field. You should tailor your personal brand and online presence to reflect your specialization. Your website needs to showcase your love for travel. Your portfolio needs to highlight your travel and adventure content pieces. You also should optimize your social media profiles to attract clients interested in the travel industry. By selecting the travel and adventure niche and specializing in it, you have not only found a niche that resonates with your passion, but also positioned yourself as a goal to freelancer in this field. Your specialization gives you a competitive edge in a crowded freelancing market and allows you to stand out as an expert in your chosen niche. It's a decision that not only aligns with your skills, but also ensures that you enjoy the work you take on making your freelancing journey. Fulfilling. 4. Craft a Unique Value Proposition: Once you have identified your niche, it's time to craft a unique value proposition. Your value proposition is your elevator pitch. The answer to the question, why should clients choose you? It's the secret source that sets you apart from the competition. Your value proposition should encapsulate what you offer, who you serve, and why you are the best choice. It's the message that tells potential clients I understand your needs and here's how I can help you achieve your goals in the world. A freelancing standing out is everything. Your unique value proposition not only serves as a magnet to attract clients, but also as a guiding light for your freelancing journey. It's the driving force that propels you to pursue your niche and deliver exceptional service, ensuring your clients get the best of your talent. Now that you have identified your niche and travel and adventure content writing, next step is to craft a unique value proposition that sets you apart from the competition. Let's continue with your journey to see how you differentiate yourself in the freelancing world. You understand that clients in the travel and adventure industry are looking for more than just content. They want stories that inspire, engage, and drive audience interest. You recognize that your clients are seeking not just a writer, but a passionate storyteller who can transport readers to exotic destinations, words. To craft a unique value proposition, you should outline what makes you the ideal choice for travel and adventure content. Combine your expertise in content writing with your passion for exploration. Promising to not just deliver well written articles, but to take your readers on a journey, making them feel the wind on their faces and the excitement of adventure in their hearts. Your unique value proposition becomes the foundation of your branding and client communication. Your website Tac line can read the following. Adventure awaits transforming quotes into travel experiences. This way, your introductionary message to potential clients emphasizes your ability to turn every piece of content into an adventure story. To demonstrate your unique value, you should populate your portfolio with articles that not only inform but also immerse readers in travel experiences. You can provide samples of your work that transport readers to mountain peaks, serene beaches, and bustling markets through vivid descriptions and captivating storytelling. By creating this unique value proposition, you position yourself as the goal to freelancer for travel and adventure content. Your commitment to delivering content that immerses readers in the world of exploration makes you a valuable assets for client looking to captivate their audience. This unique proposition establishes you as a specialist in your niche. 5. Stay Organized - Introductionary Words: If you're a freelancer or a small business owner and you want to track and manage your income and expenses alone, you are on the right place. In this guide, I'm going to explain how to do that quickly and accurately. Maybe many of you use Excel sheets or Google Sheets to enter all their data. It's not wrong, but it's an old coal or maybe an accountant that that for you. The first option is time-consuming and the second option, money consuming. I'd like to share with you how to do that alone, saving both time and money. Using this guide will be able to do your bookkeeping alone and you do that saving money and time. In that way you can focus on your main business activity. Of course, if you don't feel confident enough or you have some issues, you can always ask for an advice from a bookkeeper or accountant. In this guide, I'm going to show you how to use a completely free bookkeeping software. We're going to set up an account. And after that, we're going to create invoices and attributes. Next, we're going to pull in information from our bank, connect all payments from our bank account with the invoices and bills or if added. And we are going to see how to reconcile our bank account. Last but not least, we're going to take a look at some reports that the program creates automatically. I designed this guide with the mainly geared to help all fuel freelancers and business owners to understand how to do your bookkeeping co-own and how to read the data in your bookkeeping system. In that way, you get information about the health of your business and you can make the red business decisions. The accounting software that they recommend is called wave. It absolutely free and absolutely simple to your Wave isn't easy. Accounting software that makes sense and is designed for small business alerts and freelancers. It is reliable, secure, and simple. The software helps you to track your income and expenses, your cashflow, and prepare your business for tax time. Wave is a perfect solution for freelancers and small business owners to record and to report on their finances. It automates the whole bookkeeping process and allows business owners to gather all of the needed financial information into one system with 0s. Wave offers flu answers and business owners the ability to just hop onto their computer and check if the business is doing well. 6. Set up account: We're going to create a new way. Forgot it really easy and fast. We go to the wave homepage and click the blue button, sign up for free. Next, we add a valid e-mail and password. After that, we should submit some more information about our businesses necessary. We put the name and the main activity of our business. The program, the depth occasion based on our IP and suggests a country's currency. Of course, they can be changed if they're not correct. After that, we are taken to a page which gives us two options. The first one is related to invoicing, and second one is related to managing our book-keeping. We select the second one. Now, we are asked to answer a few more questions related to our bookkeeping process. And after we answer these questions, our wafer count is set up. We see our dashboard. That means that we can start with our bookkeeping. If we have two or more businesses, we should create a wafer Gantt for each one are the accounts we have created. We will be on the one login. 7. Chart of accounts: Now we're going to take a close look at the chart of accounts in wave. Every business has five objects. Assets, liabilities, equity, expenses, and income. Assets are items that the business owns. Liabilities are everything that a business owner's equity is. The capital invested in the business. Expenses are everything that decreases this capital. And income is everything that increases this capital. When a business event happens, for example, a sale or a purchase, some of these five objects change. This is known as a transaction. The row of bookkeeping is do record and show all this object changes. For that reason, the bookkeeping system needs a door. And here comes a current. For every object exists an account that shows o increases and decreases that happen with the object during the period. And the state of this object at the beginning and the end of this period. The chapter for Counts is a list of all counts which we use to record all transactions into the bookkeeping system. In this course, we're going to clarify how to drag our income and expenses. And for that reason, I would like to mention a humane accounts. Bankaccount is an asset account that shows o increases, decreases, and the balance of our money in the bank. Account receivable is an asset account and it shows what we expect to receive from our customers. The amounts of o invoices which our customers haven't yet debate appear on this account. Accounts payable is a liability account, and it shows what we all do, our vendors, the amounts of all bills that we have received, but human tidbit of beer on the setCount. All amounts we bay or all to our vendors shouldn't be shown on expense account. And o amounts we receive or expect to receive by our customers should be shown on income account. 8. Invoices: As a freelancer or a small business, we must create invoices for all products or services that we sell. Of course, Wave provides this function. On the left navigation menu. We go to cells and select invoices. We can add our local pickup a color and just add them plate. After that, we are taken to the invoice page. First, we should input the customer. If the customer is already added, we just select the name from the list that the beers. But if the customer is new, we should add the new name. There is only one required field that must be filled out. All other are only optional. After that, we click safe. We can adjust the invoice date and the payment due date. Second, we add all the items we have sold to the customer. If the item is already added, we just selected from the list. Unimportant moment is to enter the quantity we have sold and the price per one item. The program calculates automatically the total amount. Next, we add the tags that our customer must pay. In the same way we put our other items which have sold to the customer. At the bottom of the invoice, we see subtotal sales tax and total SIP Dodo is the total selling price without the tax. Sales tax is the total tax amount of items that are on the invoice. And Dato is the total selling price inclusive of the tax amount. The program shows as a draft. And when everything is correct, we click approved draft. The invoice is ready. We can send it to the customer through the bottom. Send invoice. 9. Invoicing - behind the scene: There are a few simple bookkeeping growth which are integrated into every counting program. When a transaction occurs, at least two accounts change. One or moral accounts should be debited and one or more accounts should be credited. When an asset account increases, it should be debited. When an expense account increases. It should be debited. When a liability account decreases, it should be debited. And when a revenue account decreases, it should be debited to when an asset account decreases, it should be credited. When an expense account decreases, it should be credited. When a liability account increases, it should be credited. And when a revenue account increases, it should be credited. And we've already seen how to create an invoice in wave. To be more confident in the bookkeeping process of our business, we should know what happens behind the scenes. When we add a new invoice into our wafer, can't we say to the program that three-year can't change accounts receivable increases, sales income account increases, and sales tax payable account increases to the program makes the following credit card account receivable is debited with the total price. Sales income account is credited with the selling price, and the sales tax payable account is credited with the tax amount. 10. Bills: When we have a business, we buy different things and we spend money on these purchases are expenses for us, materials, feathers for reselling, insurance, rent, telephone, and so on. The document that we receive for every purchase we make, you scold Bill Wave. I was asked to enter all our bills. And in that way we have a picture of our obligations and expenses. On the left menu, we go to purchases and filling bills. After that, we click the button, Create a bill, and we are taken to the Build page. If the vendor is no, we should add the new vendor. If the vendor is already argued. We just select the vendor from the list. Wave allows us to adjust the currency, the date, and the build number. Next, we add all the items with purchase from the vendor. We either add a new item or select one from the list. When we create a new vendor, we must give the vendor and the expense category. For example, if the vendor sells products for recycling, we select purchases, resale items from the list data appears. If the bill is from our internet vendor, we should select the category telephone, wireless from the list and so on. Expense categorization is essential because it gives us detailed information about where we are spending our money. After that, we enter the quantity, the price for one item and the ducks rate. We click Save, and the bill is already added to our Wave account. We have already seen how to add a bill to our way for count, but that's not enough. We should know how this affects the whole bookkeeping process of our business. When we add the build to our wafer count, we say to the program that three accounts increase, sales tax, receivable, expense account, and accounts payable. The program makes automatically the following bookkeeping record. The expense account is debited with the total net selling price. The sales tax receivable is debited with the ducks amount and the account babble is credited with the Dato gross amount. 11. Bank Account: Wave allows us to applaud our bank statement and triggered automatically or bank transactions into our bookkeeping system. On the left, Meno, under accounting, we select transactions. Next, we select a file. We need to locate the bank statement we've already downloaded from our bank. In the field of payment account, we select the account we want our transactions to go into. Now we click Upload and our bank statement is being imported. We're taken to the select Date page. Here we select the column with the date the program should assign to each transaction. We confirm and goal to the select deposit page. On this page, we select the carbon with the amount we either bait into are charged to our account. We confirm and go to the select Description page. We should select the one with the most appropriate description for our transactions. We click confirm descriptions and upload my statement. The result is obvious. All transactions from our bank statement have been bought in. 12. Categorization: Categorization is an important and key stage in the bookkeeping process. It helps us to see where our money is coming from and where it is being spent. It provides more detailed information on the various transactions and allows accurate preparation of financial statements. When we categorize a bank transaction in wave, the program makes automatically unnecessary records into the bookkeeping system. To categorize a transaction, we should click on the dropdown menu on the right side of each transaction. Intellect right category. We should pay attention when we transfer money from one of our business accounts to a model of our business accounts to avoid duplicating our expenses and income. We categorize this transaction as a transport. When we've received the payment for an invoice created in a way, we categorize the transaction. I said pay month received for an invoice in wave. The program shows a drop-down menu with o in the voices we've created in a wave. And we select the right one. If we go to the invoices page, we see that the invoice is marked as bait. When we've made the payment for Bill as-is in wave, we should select payments sent 4 billion wave. The problem shows a drop-down menu with all bills we've created in a wave, and we select the right one. If we go to the Build page, we see that the bill is marked as bait. If there is a payment for which there is no created invoice or BU in our wafer count, we should select from the drop-down menu the most appropriate category. Of course, we can create a category that's specific for our business. As we click at the bottom of the category list, wave gives the option to categorize a bunch of transactions. We just think the thick box next to each of these transactions. Click, Edit, and categorized them altogether. It's already clear how to categorize bank transactions. I like to go deeper and to explain what happens behind the sin when we categorize out the bank transactions. When we categorize a bank transaction in our wafer, God, I said payment received for an invoice in a wave. The problem makes the following bookkeeping record. The bank account is debited and the account receivable is credited. This record shows that the bank account increases and the accounts receivable decreases with the same amount. When we go to a bank transaction in our wafer count as a payment for a bill in a wave, the program makes the following bookkeeping record. The accounts payable is debited and the bank account is credited. This record shows that both accounts payable and bank account decreases with the same amount. 13. Reconciliation: Let's see how to reconcile our BankAccount. That. Reconciliation sounds complicated, but it's simply evaluating. To reconcile a bank account means to check if our transactions on our business bank account match up with the transactions in our bookkeeping process. On the left menu, we select reconciliation and we see all the bank accounts we have added in our way for count. After that, we click on the Get Started button and we start reconciling. We need our bank statement for the period that we want to reconcile. Oh, you should do is to input the ending balance date and the ending balance amount that is shown on the bank statement. After that, we click Save and our BankAccount is reconciled. It can't be easier. It's possible bolt ending balances on the bank statement. And in our bookkeeping system to differ from each other. In this way, we should compare line-by-line all transactions in our way for Kant, we dose the bank statement, a transaction that appears in our bookkeeping system and on the bank statement but with different demand should be a digit. A derivation that appears in wave but doesn't appear on the bank statement should be deleted. A transaction that doesn't appear in wave, but the beers on the bank Steadman should be edited. Ready? Now, our bank account is reconciled. 14. Reports: Wave proof-based automatically, a wide variety of reports. It prepares the main financial reports, general ledger, trial balance, balance sheet, profit and loss statement, or income statement and cashflow statement. Additional, the program creates for us some moral reports, sales tax report, customer report, and vendor report. The focus of this course is on income and expressed dragging. For that reason, we're going to take a look at the income statement, sells ducks report, customer report, and vendor report. Our report can be found or when we click reports on the left side, navigation menu. Firstly, select the income statement and three are taken to the profit and loss page. This report gives us detailed information about all types of income and expenses occur during the period. Of course, we get information about the financial results for the period, which can be either profit or a loss. Wave, allows us to juice the period and the accounting basis. They are counting basis is a key point. There are two basis, accrual basis and cash basis. Accrual basis means that our expenses and income are recorded when they occur, no matter when the payment is received or made. In this case, the income statement shows not only the amount received are obeyed, but also the amounts of goods sold which are expected to be received, and the amount of purchases which are old. A cash basis, means that o expenses and income are recorded when the payments are received or made. In this case, the income statement includes only the real cash inflow and cash outflow. More businesses use an accrual basis. By accrual accounting basis, the numbers on the income statement differ from the numbers on the cashflow statement. On the top of the income statement appear all income categories. This part of the report shows the money we have received and the amount of all sales on credit which we expect to receive. The second part of the report include the cost of goods sold. It includes o Expenses made for the product we have sold during the period. The total income minus the total cost of goods sold equals gross profit. This is the third important section on the income statement. The report shows detailed information about all operating expenses occurred during the period. And the gross profit minus operating expenses equals net profit. This is the financial result and it appears on the balance sheet to the sales tax report, tells us if we all Dax and how much tax we alter the government. We can see the amount of taxes we've collected on sales and the amount of our taxes paid on purchases. When the tax amount on sales is higher than the tax amount on purchases. The report shows the amount we must pay to the government when the decks amount on sales is lower than the tax amount on purchases. The report shows the filled tax return. This is the amount that we should receive back. The Gautama report gives us a picture which customers contribute most of our revenue, which customers pay their bills on time, and to which customers over a dual layer builds. The vendor report shows where we spent most of our money and if we pay our bills on time, when we want to see if we have obligations to vendors. We just should open the vendor report.