The Beginner's Guide to Freelancing
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| Beginners guide to freelancing |
From journalism to IT to design, almost every industry requires work experience. But what is the secret to learning the trade and getting paid?
Fortunately, today's technology makes working from home easier than ever before. This means that moms and dads have new opportunities. As more and more jobs go remote, more and more parents can find flexible work-from-home positions. And parents are able to find jobs that allow them to work convenient hours without needing childcare.
What is freelancing?
A freelancer is anyone who works independently, rather than committed to a specific employer who pays them a consistent salary. A freelancer often chooses to work for multiple clients at the same time. One of the burning questions facing the freelancing world is whether it's a viable career. The most effective way to become a freelancer is to turn a well-defined passion or expertise into a service you can provide to a client for a fee. This means that you will be able to put your talents or specialties to good use, adding additional value to your customers. Providing something that benefits your clients will also set you apart from your competitors.
Here are the key benefits of being a freelancer that have drawn millions to the so-called better side of the workforce:
• Flexible working hours. Unlike the typical 9 to 5 work day, you can choose and set your own hours through freelancing. In fact, you can reap the benefits of working when you are the most productive version of yourself. Maybe you're a night owl or an early riser? Either way, it's up to you.
• Higher compensation. Freelancers can take home more money upfront than their peers because they keep all the profits.
• Low initial investment. Ideally, you want to start a business or do digital nomad work that requires minimal overhead. In most cases, all you need is a computer and a stable internet connection. This is in stark contrast to workspaces that have to rent offices, buy expensive equipment and pay for maintenance.
• Work where you want. Reflecting modern times, the ability to work anywhere is indeed a barrier for many. As the adoption of remote work continues to prove feasible and productive, people will seek more opportunities as digital nomads.
• Choose your own clients. It gives you the opportunity to match your skills with the right clientele. You'll be able to excel at giving them what they want and establish yourself in your industry. In turn, your relationship with customers will be built on solid foundations of loyalty and trust.
• Work-life balance control. Having the freedom to manage your own work schedule is more likely to improve your work-life balance. This means you will find more time to prioritize your family, friends, hobbies and any other area of your private life.
Freelancing is a lot more complicated than you might think. Some people believe that anyone with a laptop and an internet connection can make money online. But it's not true.
The best websites to get freelance work
Here are four of the best sites to find freelance work:
Freelancer
Freelancer is a pretty simple site to use. It's easy to sign up and you can list up to 20 of your skills once you sign up. Then it searches for jobs that match your talents.
The biggest advantage: You can see exactly how many people are applying to work on the project. This feature is usually not found on other sites. It allows you to be competitive and see what experienced rivals typically charge.
Biggest downside: Again – fees. Freelancer takes 10% of your hourly rate and 10% (or £3.50 - whichever is higher) of your fixed price project fees. They also run "contests" where clients receive multiple submissions per project and only pay for the one they like (full fee information here). That sounds great to the buyer, but freelancers run the risk of doing a lot of work for no reward.
Fiverr
The above three sites are probably the main contenders in your pursuit of freelancing. But there's one last, quirky website that's definitely worth mentioning - and that's Fiverr.
The site started out as a marketplace where people from all over the world could offer their services (or "gigs") for the princely sum of $5 (about £4). Examples:
"I'll make a movie trailer for $5"
"I'll write a message underwater for $5"
“I will do a 100 word comment as an Australian or a woman for $5”.
As you can see, some of the tasks are quite surprising, but that's great because it allows you to be creative.
Since the site was first established, many people have started charging more than $5 for their services. As a Fiverr seller, you can offer Basic, Standard, and Premium packages with different service levels or speeds.
It is best to offer the most basic level of your services for $5. From there you can offer add-ons at any price, such as a quick turnaround for $20 (about £17), or a longer video or article.
PeoplePerHour.com
PeoplePerHour.com is a super friendly company. At one point they even invited freelancers to use the desks in their office - nice!
You will often see clients on PeoplePerHour stating how much they are willing to spend on a project. The pay is generally not bad and we once spotted a job that involved creating a new slogan for the company. Their budget? A cool 287 lbs.
The biggest advantage: If you are a medium or high earner, you will not pay very high commissions. Earnings between £250 and £5,000 are charged 7.5% and all earnings above these amounts are charged just 3.5%.
Biggest Disadvantage: Fees are quite high for projects with lower earnings. When a client pays you less than £250, you will be charged a 20% fee.
Upwork
In early 2014, two of the most famous freelance websites, Elance and oDesk, merged to form Upwork.
Upwork has more than 12 million registered freelancers and five million clients, making it one of the largest services of its kind.
They host everything from hourly paid gigs with start-ups to bigger projects with some seriously high-profile clients.
The website is really clear and easy to navigate. In addition, you will get a lot of information about what clients are looking for in posts, which makes writing your application much easier.
The biggest advantage: Upwork has a secure payment protection system that ensures you always get paid for the work you do. Clients send payment to Upwork before work begins, and the company keeps the money safe so neither of you can access it without the other's permission. Once the work is completed and approved, the money will be credited to your account.
Biggest cons: Upwork charges a service fee of 20% if your lifetime earnings with a client is less than $500 (approx. £410), then 10% for lifetime earnings up to $10,000 (approx. £8,300), then 5% for higher amounts, which are not the best rates.
They also offer a strange "service" to clients who hire hourly work. Here they send screenshots of freelancers every 10 minutes to make sure they are working for their money. Quite condescending.
Which freelance sites pay the most?
Let's say you earn £800 a month. From largest to smallest, here's how much each of the four featured freelance sites would see you take home after you pay that site their fee:
1. PeoplePerHour.com: £740
2. Freelancer*: £720
3. Upwork**: £720
4. Fiverr: £640.
The best payment methods for freelancers
These are the most common payment methods used for Freelance Earnings withdrawals:
• PayPal – Payment is very fast and PayPal offers an extra layer of security. But if you're paid in dollars, exchange rates can be pretty brutal. Despite this, it's the payment option we'd recommend because it's the least difficult, safest and fastest by a country mile.
• By bank transfer - it is possible to have money sent directly to your bank. However, it's not as easy to set up as PayPal, it's probably not as secure, and some sites charge you a fee every time you make a transfer.
• Inspection – the most time-consuming method. Sure, you'll avoid additional fees, but not only do you often have to wait for the check to arrive in the mail (which will take quite a while from international clients), you'll also have to wait several days for it to be processed and finally in your bank account.
• Prepaid Card – Some freelance sites offer prepaid cards that allow you to withdraw cash directly from your account on their website. However, you will have to pay fees for every transaction you make. Also, expect to get stung whenever you withdraw cash from an ATM.
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