How To Grow From Freelancing To a Real Business Owner
October 16, 2015
October 16, 2015
We’ve always written about the need to get away from the hourly pricing plus look at the vast opportunities you can wade into, on top of your freelancing career. While you always have the option of keeping freelancing as a regular source of income and experiment with other opportunities, the need to constantly look out for opportunities is imperative.
The only trouble with freelancing is that you are limited by your time, energy, and your willingness to put in the work.
Real businesses have leverage – a little something that freelancers don’t have much of.
Here’s how you can at least begin to move into that direction and Grow From Freelancing To Build a Real Business:
Experiment with outsourcing
No matter which line of freelancing you are into, there are countless tasks that don’t require your involvement. These are tasks that you’d do better to outsource. If you are a writer, outsource web design and development. If you are a designer, outsource writing. If you wanted, you could outsource everything and just choose to manage projects, clients, and your vendors (freelancers).
You don’t have to throw everything into the outsourcing bag. Start small, experiment a little and strive to strike a balance.
Build a team
Efficient teams back up some of the most successful people. From movie directors to celebrities, from sports players to business owners, everyone uses others’ skills to bring in leverage and maximize time and opportunities.
Building a team should be the first thing on your list. Strive to seek, train, and gain trust of an amazing team full of bright and capable people you’d need for your business success.
It’s not easy, but you have the time now.
Systems and processes
As a freelancer, everything you do must follow a process — from how you get clients to how you deliver projects. Following that, there must be a way for you to collect payments, invoice clients, time tracking, and more.
The more haphazard you are with these processes, the farther away you are from your dream of running a real business.
Document everything. Build better ways to do each of the tasks, workflows, projects, and other nitty-gritty that’s usually a part of your business.
Prepare to Invest
Finances are one of the most common roadblocks freelancers face while transitioning from the freelancer mode to the business mode. Running a business demands that you make investments into technology, people, and more.
That’s why it’s important to experiment first, build systems, and train your team in a way that’s most conducive for your business.
Do you dream of being a real business owner? Do you have plans to hire a team? Tell us what’s stopping you now.