If, like many people right now, you’re thinking of ways to make money online, freelancing might seem like a logical step. You can do it safely from home, and it can generate income.
There are a few things to consider before diving headfirst into freelancing, even if only temporarily.
Do you have a niche which people still need?
In the current coronavirus-stricken environment, your ability to succeed as a freelancer very much depends on the services that you can offer.
Travel writers might struggle for work right now, whilst couriers, and healthcare workers are likely very busy.
During a crisis, bigger companies are usually a bit safer, because they’re more likely to have emergency funds if they need your help on a one-off basis, and quickly.
That said, some online businesses are seeing a huge boost at the moment. Entertainment, tech, gaming, and health and fitness websites are finding that lots of people stuck at home are looking for things to do, and are buying gadgets and equipment to cure their boredom. It could be a good idea to target those with freelancing pitches.
Keep your overheads very low
The great thing about freelancing is that it’s generally one of the cheapest business types to set up.
As finances are a bit tough for most of us all at the moment, you might need to limit what you’re investing in any freelancing venture.
Try a generous marketing approach
Trying to capitalise on a crisis will likely generate a very mixed response! Be cautious with how you pitch your marketing in this respect.
Perhaps offer something, like a free consultation, to give potential clients a taste of what you can offer.
While offering free work is always a bit risky, getting new business is tricky right now. An incentive might help win over new clients if your start-up needs a boost.
Don’t get into trouble with HMRC!
OK, we’re an online accountancy, so obviously we’re going to very strongly advise any newbie freelancers to keep everything above board! This means registering as self-employed, and submitting Self Assessment tax returns so that you pay the right amount of tax.
We know that this can sound incredibly daunting, and likely pretty off-putting. Before you click away, check out our guide on starting your own business.
Learn more about our digital accounting services for freelancers. Call the team on 020 3355 4047, or ask for a free call back.
About The Author
Forensics graduate-turned copywriter and blogger. I love turning complex topics into easy to understand, yet engaging pieces of content.