Freelancing Industry is growing big. With lots of opportunity out there as companies from small to large size are willing to outsource many of their services. So who is a freelancer? Freelancer is someone who is self-employed and is not committed to a particular employer long term. Freelancing is one of the easiest ways to start working for you with almost zero investments. Companies ranging from small to big outsource different types of services. There are lots of freelancing websites like eLance, Scriptlance, Guru that provides a platform where employers post work in open market and freelancers bid to get the work.
Most common freelancing job you must have heard is Freelance web designer. Recently I wrote a post on 6 unique ways to find and hire a freelance web designer. There is also a search engine to find freelancers in your area. Is freelancing for you? If you’re ready to quit your 9-5 job and take the risk, few things you need to ensure that you are not getting screwed as a freelancer.
Never start the project before you understand the requirements completely. Before you bid for a project, have something to showcase to the client. If you’re into designing, keep your portfolio up-to-date. Never showcase your skill set by working for free in the current project. Show the sample project that you’ve worked before. Also be clear in payment terms. Ask the client to make an advance payment or Escrow it before you start the project. This may be sometimes rude, but this will be understood only if you work on more projects. These are some mistakes you can avoid before you get into it.
Is freelancing right for you? The International Freelancers Academy released the Freelance Industry report for 2012 which threw some interesting facts. If you’re into freelancing industry or trying to take up freelancing job full time here are few things that you need to know. I am quoting the important facts from the infographic they released.
- 90% of freelancers are happier now than they were before going solo.
- 77% of freelancers are optimistic about their business prospects over the next year.
- 71% of women compose the largest group of freelancers.
- 68% of freelancers prefer High touch prospecting methods such as word of mouth, referrals, tapping personal and professional networks.
- 49% of freelancers earn $20-59/hr, 33% earn $70+/hr and 15% earn $100+/hr.
- 49% of freelancers have felt little to no impact from the economic downturn.
- 47% are the primary income earners in their household.
- 46% of freelancers have more time than they used to have in full time day job.
- 40% of freelancers outsource work to others, contributing to economic growth.
- 34% have 10+ years of experience as a freelancer.
- 21% said finding clients is the biggest challenge freelancer’s face today.
- 14% work their business on the side of their fulltime day job.
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