You are currently freelancing as a side hustle
Entrepreneurship is a topic of interest for you
You are ready for a challenge and new goals
If you were thinking, “yes!” to all of the above sentences, then this blog is for you.
Taking on a part-time freelancing role is a big decision; making the switch to a permanent, full-time entrepreneurial role is an entirely new game.
Here’s how to know you’re ready:
You spend all of your “work” time with clients… and many of them.
You are constantly bettering your client process, working on deliverables, talking with prospects, and still in search of more. When a project is done, you jump on the next. You are always ready for more, even if that means you must outsource some of the work entailed. Not only are you helping businesses grow, you are also learning to network with businesses and clients to help yourself grow.
You are making a comfortable, scalable income.
Being financially stable is the number one ‘make it or break it’ decision maker. Are you truly making enough to support you and your family? And is this not only enough for essentials like groceries and gas, but also enough for a vacation or fun outing every now and then? If you aren’t sure, or do not feel like you are making enough yet, then do some digging; put together a financial budget sheet. Include your income and expenses, determine your taxes, and decide whether or not taking on freelancing, as a full-time role, is smart and beneficial.
You are an expert in your field, industry, or career path.
Clients want to see experience– that’s fair. Clients also want to know that you are an expert in, or at least extremely knowledgeable in, their area of work. People want to know you are familiar with the industry, have dealt with a similar issue or struggle with a different client, and are ready to do it again, but even better this time. If you’re not an expert in your field, or very close to it, then work to become one—you must be to take on an entrepreneurial role. Having a career in the field prior to freelancing is definitely beneficial; career turns into experience. Side hustle turns into a career.
You are aware of what it takes and are determined to be successful.
Freelancing full-time isn’t easy, but the hardest part is getting started. Thousands of companies fail within the first year… but that shouldn’t scare you. You are aware of the struggle and still want to try. So do it. Just be prepared for when you do. That means being aware of on-going (and potential) expenses down to the last penny. It means formulating a crystal-clear process of doing things: acquiring clients, exchanging confidential information, customizing workflow, etc. It means having a solid marketing plan in place. But even after feeling confident that all of your bases covered, you are still aware of the challenge that lies ahead… however; you are not willing to give up. Not now, not ever.
Freelancing full-time is a career path that you have to look in the eyes, and face… so take the bull by the horns, and run with it.