Is Your Freelance Business Idea a Good One?

Here’s How to Make Sure

​Do you have dreams of ditching your day job and starting a freelancing career? If you have a skill you can offer online, you can make a living working at home, setting your own hours, and living by your own rules. But before you get started, you need to make sure your idea is a sound one. 

Get Your Mindset Right 

There’s a certain mindset you need to have if you want to be a freelancer. You’re not just a worker, you’re also a business owner. Like any CEO, you need to handle strategic planning, branding, scheduling, and everything else your business needs. 

You also need to make your business grow. Are you ready to handle all these tasks on your own? Do you feel energized when you think about managing your freelance business? This is the mindset you need to have to be a successful freelancer. 

Is There a Market for What You Do? 

You have a service to offer, but are people paying money for that service? One of the most important things to test first before you launch your business is the market. Is there an audience for your services?  

Look around at freelancers offering the service you want to offer. Follow them on social media. Join groups where people who offer this service are talking. You can learn a great deal by listening to their conversations and also learn important things like the going rate, tips and tricks to land more clients, or how to handle difficult clients.  

Do You Have the Discipline? 

Working on your own as a freelancer means freedom. That’s one of the main reasons people do it. But it also means you need to have the discipline and motivation to do it yourself without needing to be nudged by a boss or co-workers. 

A good way to test this is to do a few small jobs before you launch your freelance career. Find a gig on a freelancer website or through your connections. This will give you some experience managing your time and meeting deadlines. 

Discipline is a muscle you can grow. A good way to build up this skill is to transition gradually from your regular job to freelancing, gradually taking on more work. 

Can Your Finances Handle It? 

There’s a bit of financial risk involved in starting your own freelance business. There’s a good chance you won’t earn much at first, and it will probably take some time before you’re earning what you earn now.  

There are two ways to handle this. One is to start doing some freelance work on the side while you keep your regular job. Once you have enough income through the services you offer, you can quit. 

Another approach is to save money and make the leap. Save about 2-3 months of pay to tide you over until you start to earn enough through your freelance business.  

It’s fine if you don’t have everything you need right now to start your business. As long as you’re willing to learn a few new skills and cultivate the right mindset, you can make it as a freelancer. 

 

About The Author  
 
Pat Simes is a Business Strategist, blogger and Founder of Innovative Business Solutions and Innovate Academy. She currently resides in the Midwest and is committed to inspiring and empowering entrepreneurs to transform their vision to reality.