![\"Freelance](\"https:\/\/timingapp.com\/wordpress\/wp-content\/uploads\/2019\/01\/Timing_mistakes.png\")
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Flexibility. Control. Being your own boss. Making your own schedule. Setting your own terms.<\/p>\n
There are many advantages to being a freelancer in today\u2019s uber-connected world. Telecommuting eliminates some of the daily grind and provides a landscape for more productive and efficient work. On top of that, having the freedom to pick and choose which clients to take on allows you to feel more invested in projects.<\/p>\n
If you are currently freelancing, you aren\u2019t alone. In fact, it\u2019s estimated that<\/a> the majority of the U.S. workforce will be freelance by 2027.<\/p>\n Source: www.upwork.com<\/p><\/div>\n However, shunning the typical 9-5 office job also comes with its own challenges and demands.<\/p>\n These hurdles can be cleared if you have a set system of best practices, but to do this properly you need to understand some of the most common mistakes that freelancers make.<\/p>\n [content_upgrade cu_id=”366″]Free Download: Quick Guide to Dominating Freelancing<\/strong>[content_upgrade_button]Click Here[\/content_upgrade_button][\/content_upgrade]<\/p>\n First and foremost, you need to be sure your freelance business is buttoned up. Think about it: A well-oiled company has different departments and experts for all aspects of business\u2014operations, finance, marketing, etc.<\/p>\n Even as a one-person business, don\u2019t overlook any of these priorities. Organization is the key to helping you do this effectively and efficiently.<\/p>\n Even if you\u2019re not a Type A personality, you need to get into the habit of putting all of your work-related information and materials into systemized order. Whether you prefer to use Excel sheets, helpful apps, or high-powered software, it\u2019s critical that all your documents, figures, logins, and assets are orderly and easily accessible.<\/p>\n Being organized can also help greatly when it comes to having to pay taxes, healthcare premiums and bills, and any business expenses that would otherwise be covered by an employer.<\/p>\n This Forbes article<\/a> warns against treating your freelance income like profit, advising, \u201cput aside at least 30% of your revenue for taxes and related operational expenses.\u201d<\/p>\n Granted, your optimal percentage may be higher or lower depending on your individual situation and the tax laws of your state or country. But the point is that you need to be organized in order to think ahead and be prepared for what\u2019s waiting in the future.<\/p>\n With all those added expenses that fall onto a freelancer\u2019s shoulders, it\u2019s important that you properly value and charge for your services.<\/p>\n We know that building a business on your own can be challenging and take time, and sometimes you need to cut a deal to get your foot in the door with a client. This may include doing some pro-bono work, completing some test assignments, or settling for a retainer that doesn\u2019t quite pay out the way an hourly agreement would (but with retainers you have more dependability, so that can provide some value on its own).<\/p>\n However, once you\u2019re in a place where you can be more selective about your clients and projects, it\u2019s important for both your pocketbook and self-worth that you are appropriately charging for your expertise.<\/p>\nIt\u2019s important for both your pocketbook and self-worth that you are appropriately charging for your expertise. <\/a><\/span>Share on X<\/a><\/span>\n Sometimes it can feel like we are throwing out arbitrary numbers, but by avoiding Mistake #1 (disorganization), you\u2019ll be in a better place to understand the expectations of a client and how your financial outcomes net out.<\/p>\n Research the market (or the client\u2019s area) to get a sense of what full-time employees may be earning in a salary and how that computes to hourly compensation. After all, as a freelancer it\u2019s not likely that you are able to take advantage of other benefits like healthcare or expense accounts that could otherwise cost companies a lot of dough.<\/p>\n When it comes to existing clients, it can feel uncomfortable to discuss adjusting a contract, but luckily we covered that topic in a recent article: How to Re-Sign (& Renegotiate) Client Contracts<\/a>.<\/p>\n (Or at least failing to track time the right way.)<\/p>\n When a person is in a full-time role that requires them to be in an office each workday, it\u2019s not likely that they are very cognizant of their time. Now this doesn\u2019t mean that they are less productive or value their time less than the average freelancer, but chances are that tracking their time won\u2019t have a direct impact on their income. (Unless, of course, they proactively track their time to use as leverage when asking for a promotion or raise, which is very smart of them!)<\/p>\n There are also some instances in an agency or professional firm setting where it\u2019s critical to the business that time is being dedicated and tracked back to a specific client, in which case the company likely requires its full-time employees to enter time into a tracking system.<\/p>\n However, as a freelancer, you know how precious it is to track each and every hour\u2014every minute even\u2014of your day.<\/p>\n It\u2019s crucial to know exactly how much time you are putting against a particular client or project so you can accurately bill for your services and provide documentation when necessary. It\u2019s also an important tool when it comes to growing your business\u2014you won\u2019t be able to successfully determine if you are in a position to take on additional work if you aren\u2019t absolutely positive about the time burden of your current workload.<\/p>\n Also, some work is more mentally taxing than other assignments. Spending five hours writing code may call for a different hourly rate than five hours spent researching for an article outline or completing administrative tasks.<\/p>\n Time tracking is an absolute must. However, where freelancers sometimes go wrong is resorting to manually tracking their own time.<\/p>\n Whether keeping detailed (or not so detailed) notes in the margins of a to-do list, organizing line items into an Excel sheet, or playing the risky game of starting and stopping a timer each time they dig into a project (who can remember to do that every time anyway?), they are leaving enormous potential for human error.<\/p>\n That\u2019s why using a helpful time tracking tool like Timing is so beneficial. Timing simply tracks all the time you spend on your Mac and digitally files it into your pre-determined categories\u2014automatically! (In fact, here are some Tips & Tricks for Categorizing Your Time<\/a>.)<\/p>\n With Timing, you also have the ability to enter time manually (like the example above) in addition to the automatic tracking, so you can ensure that no conference calls, on-site meetings, or other work conducted off your laptop is unaccounted.<\/p>\n [content_upgrade cu_id=”366″]Free Download: Quick Guide to Dominating Freelancing<\/strong>[content_upgrade_button]Click Here[\/content_upgrade_button][\/content_upgrade]<\/p>\n There are challenges that come attached to being a freelancer\u2014finding work\/life balance, managing your own business development, and learning how to prepare for the ebbs and flows of workload\u2014but by avoiding the three common mistakes above you\u2019ll be better poised to overcome these realities.<\/p>\n Especially in an effort to stay organized and professional, it\u2019s important to remember to invest back into your business. Just as a painter needs the proper art supplies to create a masterpiece, you also need the right tools to do your job well.<\/p>\n This may require you to shell out for certain devices, software, or apps that will help make your freelancing career as smooth as possible.<\/p>\n![\"Freelance](\"https:\/\/timingapp.com\/wordpress\/wp-content\/uploads\/2019\/01\/Timing_freelanceinfographic.png\")
1. Being Disorganized<\/h2>\n
2. Undervaluing Your Services<\/h2>\n
3. Failing to Track Time<\/h2>\n
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<\/a><\/p>\nThe Bottom Line<\/h2>\n