A Sneak-Peek into the life and times of Freelance professionals

The key challenges for Freelancers usually revolve around accessing clients and winning work, correctly determining one’s pricing strategy, ways to remain relevant in one’s industry, building networks whilst outside a corporate environment, and last but not the least, managing one’s time efficiently and not becoming a slave to your profession.

In late April, IndusGuru hosted a Networking event that gave freelance consultants the platform to connect with one another and to share their experience in the field, along with some helpful ideas and tips which can further help new entrants, as well as fellow veterans in the freelancing space.

Here are some of the key pointers discussed:

Marketing your skills and experience is essential to gain visibility. Join professional groups on WhatsApp, Telegram, LinkedIn, and make an updated website of yourself. Leverage accounts from prior work connections. Participate in online webinars or networking events (like ours!) to increase visibility.
Hot-Tip: Get over the apprehension of approaching prior work connections for new opportunities. Connect with your contacts and keep them updated on your work.

How to stay relevant in your industry while freelancing? Keep upskilling yourself. Take edX courses from big institutes, get the relevant certifications. Keep abreast of the news and current events for personal and professional development.
Hot-Tip: Run a survey from your clients to understand your NPS score.

Networking can be done by creating value through short form content like blogs, videos and podcasts. Attend workshops in your industry. Follow hashtags on social media relevant to your industry, join networking forums, and volunteer for activities like assessment centres.
Hot-Tip: to deal with the loneliness of solitary working as a freelancer, join a co-working space. This helps make clear connections with other people.

When it comes to pricing, know your market. Be aware of what service charges what price, and make your quote accordingly. It is important to charge for your time. Evaluate whether the project calls for quoting a fixed fee, versus a percentage of the total revenue. If a client is demanding full-time work for the period, benchmark the going rate of a full-time employee. Add peripheral costs wherever required. In some cases, be open to no-profit or at-cost projects if working with the client creates value for you.
Hot-Tip: Think of yourself as a company. Charge your client based on your time and material costs, plus your fees separately.

Lastly, but most important, is time management. It is easy to get lost in work when you don’t have a 9 to 5 job. Some freelance experts suggested prioritising work based on stakeholder influence and strength. Balance your fixed and variable commitments. Clearly account for field visits, travel time and such in the contract. Mark out the time spent making pitches and talking to clients.
Hot-Tip: Make a weekly calendar. Break the day into professional and personal slots to prevent burn out.

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