Going Full-Time as a Freelancer, Are You Ready?

1. Intro: Hi, I'm Vivian and I am a Senior Product UX UI designer and of course a course creator. I've worked for Corporate America for several years and at the time, I felt a very unfulfilled in my day job. I was tired of working for someone else and barely had any vacation time. So I decided one day that I was going to quit and I did. And I wanted to just travel the world and work from anywhere. So now I generate about $30 thousand months with less clients, but my journey has not been easy at all. I felt very stuck in my corporate career and I knew that I had to take some actions in order to finally make the leap to full-time freelancing. So one of the reasons why I created this course is because my goal is to show you what is possible for you in your next move as a freelancer. So if you've been toying with the idea of going full-time as a freelancer. It's a big step, I know, but it can be incredibly rewarding. You get to work on your own terms, set your own hours, and work from anywhere in the world. So in the next couple of videos, I want to provide you with tips on how you can go full-time as a freelancer. Even if you don't think you can. We will go over topics such as working on your mindset, setting goals, how to charge more for your services, how to attract clients and much, much more. So, get ready to take notes and thanks, and I will see you in the next couple of videos. 2. The Truth About Freelancing: Freelancing can open up many opportunities for your personal life. You'll have more time to have a better work lifestyle. You have the flexibility to work from anywhere. You get to spend more time with your family and friends. And overall, you'll have a flexible schedule. Now, there are many things I love about freelancing, but one in particular that I struggled with in the very beginning was having too much flexibility. And I know this sounds a bit strange, but let me explain. When you have too much flexibility, it's a bit hard to manage your time if you don't structure your day properly. So when I was in Cape Town, South Africa for a little over a year as a digital nomad, I was new to freelancing full-time and I had too much freedom where I didn't know exactly how to structure my day. So for those of you who are taking the leap to freelancing full-time, you have to make sure you list out all of your must do's for the day. It makes sure to also keep an up-to-date calendar of any appointments for the week, including meetings with your friends. Try to follow a structured system and that way you can maximize your time with the flexible schedule. You will have. There are tools that I've personally used to keep my life sane and organized. But my favorite one has been Asana plus the built-in calendar that's on my iPhone. It's been a great tool for my business and my personal life, and I keep everything very organized. But keep in mind that there are times where you may want to do things in your personal life That's a bit spontaneous. So make sure that you do that from time to time. Of course, when you take the plunge of becoming a full-time freelancer, I want to call out that freelancing. Is that always as glamorous as what you see on social media. And social media, you'll see a lot of influencers traveling around the world while working remotely from beautiful places. You don't necessarily see the obstacles they go through in their personal life and business. And I've been very fortunate to have that lifestyle that I have. And I do post pictures on my social media channels of beautiful places around the world. But as I've mentioned many times in the past, that my journey was not easy. In the beginning of my full-time freelancing career, I struggled guys. I struggled to get clients and I struggled to make consistent money online. I've even struggled to have an online presence. Now, there were nights where I couldn't even sleep because I didn't know how I would generate a money living abroad. Yet, my social media appeared as my freelancing career was perfect. If you don't know how to properly set up your freelance business properly, you will have trouble succeeding. And I've learned to set up systems and structure my business. That way, I have more time to design and create online courses and market by services and of course, make more money. So when you have a step-by-step system in place, you will find it easier to create a portfolio that stands out and how to market your services. How to get high paying clients, plus how to get current, higher paying clients to work with you again on a contract basis. So if you don't know how to market yourself or have the confidence that you're not worthy of being hired for high pink lines, then you will not make money. Simple as that. And taking initiative and believing in yourself that you're capable of creating wealth and abundance of freedom is the first step. The second step is getting clients to want to work with you. It's not easy to find clients in the beginning, I've struggled in the beginning of my freelance journey. We've all struggled to a certain degree, but I got better at my craft. I built an online portfolio that stands out to recruiters on LinkedIn and to potential clients. If you're not willing to do the work, my friend and put in the effort to do the necessary steps of setting up your freelance business properly. From the very beginning, it will take you years to figure out everything on your own. With that being said, my friend going freelancing full-time can be scary at first. But if you do the work, you have the passion and you have the drive, and you wonder, reach your highest potential for something more fulfilling. Everything will work out the way it should. So keep working towards your goal. And I'm here to cheer you on every step of the way. 3. Shifting Your Mindset for Ultimate Success: Freelancing can be very rewarding career, but it can also be challenging at times, it's important to have the right mindset when you're freelancing so that you can push through the tough times and keep your business moving forward. And one of the most important things to remember is that freelancing is a business. Any business, there will be ups and downs. The key is to not let the downs get you down, accept them as part of the freelancing journey and keep moving forward. Another important thing to remember is that freelancing is not erase. You don't have to try to do everything at once. Take your time and build your business in a steady pace and focus on quality over quantity. If you keep these things in mind, you'll be well on your way to building a successful freelancing career. Now, everyone's freelance journey is different and my journey was far from easy. And I want to keep it real and tell you that starting her freelance career is not for everyone. I've lived it and I got burned out throughout my entrepreneurial journey. But the lows did not stop me. And I went through several lows well, building my business. But once I started to have like a routine and I set goals and a clear vision for my business. I learned to shift my mindset to think that I'm capable of freelancing full-time despite of any challenging times I had to face. So if you're currently feeling stuck and have some limiting beliefs about pursuing your freelance journey. I totally get it. I was also in the same position a while back. It's normal to feel this way, but remember to adjust your mindset and keep moving forward. With a positive attitude. You can achieve anything. You set your mind to. 4. Set a Goal on When to Go Freelance Full-Time: When you're thinking about making the switch to full-time freelance work, it's important to set a realistic goal for when you'll be able to quit your day job. Otherwise, you may find yourself feeling stressed and overwhelmed as you try to make ends meet. So here are a few things to consider as you set your goals. So number one, how much money do you need to live on? So make sure you have a realistic idea of your expenses so that you can accurately estimate how much income you'll need to bring in each month. And keep in mind that as a freelancer, you won't have access to employer sponsored health insurance or other benefits. Your retirement fund. You'll also be responsible for paying your own taxes. And once you have a better understanding of your goals, take a close look at your budget and figure out how much money you'll need to cover your expenses each month. And this will help you determine whether or not you're comfortable level to make that leap of going freelancing full-time. And number two, are there any financial obligations you need to take care of before quitting your job? So before you make a decision to go freelance full-time, it's important to take a look at your financial situation and make sure you are prepared. Are there any outstanding debt payments that you need to make such as a car loan or a student loan or pay off a personal loan. Do you have any savings goals that you need to reach if you are planning on becoming a full-time freelancer, do you have enough money saved up to cover your living expenses for a few months. These are all important considerations that need to be taken into account before you make such a big decision. And once you have a clear idea of your financial obligations, you can start to develop a timeline for quitting your job and reaching your goals. Number three, do you have a solid plan for marketing your freelance business? There are a few things you should keep in mind when marketing your freelance services. First, you need to identify your target market. Who are the individuals or businesses that are most likely to need your services? And once you've answered that question, you can begin developing a marketing strategy that will reach them. This may involve with connecting potential clients on LinkedIn and crafting an outreach letter and pitching your services. Now, remember that it takes time and effort to build up a client base plus nurturing that relationship even after you land the client. So don't expect to make a full-time income from freelancing overnight. Patient, stay focused on your goals and be willing to put in the work. So make sure you're prepared for all the challenges that may come with making that switch. And number four, would you consider working part-time? So one way to ease into the freelance life is to try working part-time. At first. That way you can gradually build up your client base and save money so that you're not overly stressed about quitting your day job. Of course, there are benefits and drawbacks of two, both quitting your job and working part-time. So for instance, working part-time gives you a steadier income, which can be helpful if you have financial obligations such as a mortgage or a car payment. However, it also means that you'll have less time to dedicate to your freelance business. So ultimately, the best decision really depends on your individual circumstances and what will work best for you won't work for everyone else. So take those things into consideration and make sure you save a lot of money before you transition into a full-time freelancer. So setting goals that are too ambitious can lead to disappointment. So it's important to be realistic about what you can achieve. But at the same time, don't sell yourself short. If you're willing to work hard, you may be surprised at how quickly you can reach your goals. So go ahead and dream big. Just make sure your goals are achievable. 5. Save Money Before You Quit Your Day Job: I know what it's like to feel like you just want a straight up quit your day job. But hold on a second. Before you quit, you need to save some money. And one of the biggest challenges is that your income can be inconsistent at times. So you might have months where your book solid and you make great money. And then there are other months where you're interviewing with potential clients and waiting on their response if they will hire you. So this can make it difficult to plan your financial future and can even lead to financial insecurity. If you're thinking about freelancing, it's important to be aware of this specific challenge and to have a plan in place, to have to help you during months of inconsistent work because from time to time it does happen. So one strategy is to save up money before you quit your day job so that you have a financial cushion to fall back on during the slower times. But unfortunately, I cannot tell you exactly how much do you need to save? You'll need to come up with a figure that you'll feel comfortable with to cover costs such as like your rent, car payments, utility bills, phone bills, health insurance, etc. So what I would recommend is to save several months worth of money. That way, you also have a safety net for the slow months. Plus, you'll feel a bit better knowing that you have some money saved up in the event that you're waiting on a client to get back to you for a potential collaboration. So a second strategy is to cut back on your spending. So this may seem like an obvious solution, but it can be very difficult. Once you do that in practice. Sometimes we're used to a certain lifestyle and it's hard to change those habits. However, it's important to be mindful of your spending and try to cut back where you can track your spending for even just a few weeks to get an idea of where your money goes. How much are you can you actually afford in each category? And once you have a budget in place, stick to it as closely as possible. If you've been eating out a lot, buying our coffees, are buying clothes, tried to live at yourself a bit so that you have extra money that you can save and don't give up on the things you enjoy to buy, of course, just buy less of it and saving money even just a little bit counts. So another strategy is to automatically transfer a fixed amount of money from your checking account into your savings account each month. So this way you'll have money to set aside without even thinking about it. And this strategy has also helped me because if the money is sitting in my regular checking account, I'm more likely to spend it then if it was in my savings account. And finally, try to pay off any debt that you might have as quickly as possible. So high interest rates can make it very difficult to save money. So paying down debt will give you more money to put towards your savings each month. So if you, just, by following these simple strategies, you can start saving money immediately and enjoy a better lifestyle later on in life, knowing that you have more of a financial security. 6. Know Your Value and Charge More For Your Services: As a freelancer, you should never settle for less than what you're worth. You have skills and experience that are valuable and you need to make sure that you're getting paid accordingly. Many freelancers start out by charging much less than they're worth. And this can be a huge mistake. If you want to make most of your freelancing career, then you need to be confident in your abilities and charge more for your services. If you're just starting out as a freelancer than it can be tough to know how much to charge. And many people are afraid to ask for too much or they may not feel confident in their skill set. The more that you practice your craft, the more confident you will be in your abilities. And this will help you to charge what you deserve as a freelancer. So a good rule of thumb is to start at a rate that is higher than what you would expect to make a traditional job. So this may seem like a lot, but remember that as a freelancer, you are responsible for your own taxes, health insurance, and other costs. So when you factor in these additional expenses, your hourly rate should be much higher than what you make any traditional job. So let me give you a quick little story. When I was in my nine to five Corporate America job, my side hustle at the time was freelancing with different clients. And at first I had no idea how much I should charge, even though I was already a designer and had experience working with internal clients at work. When looking back, I realized that it's important to remember that your value doesn't come from your title or your salary. Instead, your value comes from the skills and experience you bring to the table. And the only way to build those skills is to keep practicing your craft. And every project you work on, every client you interact with is an opportunity to learn and grow. With each new piece of work, you're honing your skills and becoming more valuable as a freelancer. So one way to practice your freelancing skills is to take on smaller projects. So this will help you get a feel for the work involved and also give you a chance to build up your portfolio. And as you complete more projects, you can start to increase your rates. Another way to practice is to offer your services at a discount to a friends and family. This can be a great way to get started and build up your confidence. Now, it's no secret that as a freelancer, you need to negotiate your rates in order to make more money, but not everyone does it. Negotiating rates can be intimidating process, especially if you're new to freelancing. When it comes to negotiating rates, the most important thing is to be clear about your value. You need to know your worth and be confident in what you're asking for. If you don't believe in your own value than the client won't either. It's also important to be prepared with data to backup your pay rate request. I encourage you to work on your portfolio. If you want to make more money as a freelancer. And your portfolio is what recruiters and hiring managers are looking for when I'm going through applications or when finding you on professional platforms like one of my favorite ones, LinkedIn. Another important tip is to be a bit flexible in your negotiation. And it's okay to start high and come down a bit as long as you don't lowball yourself. Remember that the goal is to get paid what you're worth. So be prepared to walk away if the client isn't willing to meet your needs. And finally, don't forget to listen to clients needs as well. They may have a budget in mind that you weren't even aware of or they may be looking for a different scope of work than what you're offering. If you can be flexible and meet the client's needs, you'll be more likely to become a better freelancer and a better negotiator. And you can come into agreements. Of course, every freelancer situation is different and there is one, no one size fits all solution. But if you want to be a successful freelancer, then it's important to know your worth and charge accordingly. So don't be afraid to negotiate and don't let anyone else dictate what your worth. Remember, you are the expert in your field, so charge what you're worth and don't settle for less. And don't let recruiters or others dictate what your worth is. Know Your Value and always, always demand more. 7. How to Become Best Friends With Your Recruiters on LinkedIn: Recruiters are the first of contact for most freelance candidates when trying to get a job. So it's important that you make a good first impression with them. So there'll be willing to help you again when you have new opportunities. If the relationship isn't great from the start, it might get even worse in case you don't reply to their messages or react to slowly, The relationship has to be built on trust, and that won't happen if you are not proactive with keeping the lines of communication open. Start by communicating with recruiters on a regular basis. Make sure that one of the recruiters in your network is the right person to approach in case you find a job opportunity. You can use LinkedIn's advanced search to find out who is the most relevant of the recruiters in your network. And once you know who to connect with, don't just send them one message every now and then, establish a regular communication pattern. The good idea is to send your recruiter a message on the same day of the week. So for example, you could send them a message on Tuesdays or Fridays. So this way, the recruiter knows that you're actively looking for jobs and you become someone they look forward to hearing from. On the other hand, don't forget that recruiters are busy people and might appreciate a quick message to acknowledge that you've received their message, even if you don't have time to reply in depth. So make sure to be transparent about your employment status. If you've set up your LinkedIn profile collected correctly, recruiters will find you. So when they do reach out to you, one of the first things recruiters will ask is whether you're available for higher. It's important to be transparent when you reply to that message. If you eventually won a freelance full-time, Don't try to avoid their questions and hope they'll forget about it. Be honest and let them know that you're not available right now for a full-time position. Otherwise, the recruiter might end up wasting your time and theirs by offering you a job, you can't take what you don't want to tell your recruiter that you're not looking for a new job. Try to be as honest as possible without giving away too much information. So instead of saying no thanks, you could say, I'm currently not looking for a new full-time job. I would like to transition to a full-time freelance or in the near future. I'd love to stay in touch. Notice how friendly that reply was. This way you don't burn any bridges and the recruiter can still be a valuable resource for you in the near future. It honestly, if you treat your recruiters that way, you want to be treated, they will remember you when they have a contract or a freelance role. So this is one of the main principles to get recruiters to think of me when they have high paying jobs with the same client. And let me give you another example. A while back, I was looking at my bank statement and I noticed that I got paid twice. And the honest person than I am, I let my recruiter know that I got paid twice. Since then, he sends me high-paying freelance jobs that are not available to the public because of my honesty. So always lead with honesty and respect because you never know the universe will be on your side and bring greater things to you when you least expect it. So make sure to develop great relationships with your recruiters as they will ultimately pass you to the next round of interviews with the hiring manager for the project you may be working on. 8. Attract and Keep Clients on Repeat – The Power of LinkedIn: Linkedin has been the number one tool that I use to get clients on repeat. Linkedin is like a search engine for recruiters ready to hire great talent. So it's best to niche down on an industry. Now, if you've worked on different industries and generally like to have experience working in different projects, then that's totally okay. Keep in mind that the more unique down, the more of an expert you're seeing in that particular industry and the recruiter will take you more seriously. Now, I highly advise that your resume is up-to-date with all of your work experiences. Because one of the exercises that you need to do is to ensure that what you have in your resume will carry over to your LinkedIn profile. And after you have saved your profile, then recruiters will get the chance to find you. Okay, my friend, after you've updated your LinkedIn profile, you need to make sure your profile is set to actively looking. One of the things that I've noticed freelancers do is once they get hired to work on a particular project, they set their LinkedIn profile to no longer actively looking for roles. Instead, you should always have open to work enabled because you should always interview, even if you're working with a client, it's always good to have the contexts of future clients and start building a network of clients before your current project ends.