So You Want to be A Freelancer

#1

Post by samullen » Fri, Jul 12, 2013, 1:52 PM UTC

So You Want to be A Freelancer
samuelmullen.com

Re: So You Want to be A Freelancer

#2

Post by CaptainZapp » Fri, Jul 12, 2013, 2:19 PM UTC

I recall the absolute dread and horror after my contract - at a global logisitcs firm - moved from Basel to Paris and finally Prague.

The legal department in Prague sent me a new contract and it wasn't the two page paper that I got accustomed to from the previous contracts.

It was 50 pages of undiluted legal gibberish all inconveniently packed into a Word document.

After feeling miserable for 3 days I actually went through this thing and while I didn't like it wasn't quite the expected horror.

Of essence where 3 pages, really. Setting the terms and the pay. The rest was mostly CYA legalese and copyright questions.

But the most interesting thing was that lil' ol' me, a one man show, was actually able to negociate a few points, which where unacceptable to me and actually get them ammended.

This episode always comes to mind, when I'm reminded of the less fun freelancing aspects.

Re: So You Want to be A Freelancer

#3

Post by Dj_Anthony2013 » Fri, Jul 12, 2013, 2:21 PM UTC

Freelancing is risky. But lucky if you get good clients.

Re: So You Want to be A Freelancer

#4

Post by lifeisstillgood » Fri, Jul 12, 2013, 2:33 PM UTC

oh hell yes! This is the biggest one in my book

  Oh, there is one more tiny matter: taxes. Make sure to 
  take a 1/3 of each invoice you are paid and put it into  
  savings for taxes. Seriously, you don’t want to make this 
  mistake.

Re: So You Want to be A Freelancer

#5

Post by michaelochurch » Fri, Jul 12, 2013, 2:34 PM UTC

Oh, there is one more tiny matter: taxes. Make sure to take a 1/3 of each invoice you are paid and put it into savings for taxes. Seriously, you don’t want to make this mistake.

Also, you will have to pay taxes quarterly (well, more specifically, to make estimated payments each quarter). Withholdings at day jobs abstract away the quarterly obligation, allowing you to file once a year (and, usually, get a refund) but freelancers aren't allowed to hold money owed for 9 months and collect interest; they have to pay more quickly.

Here's the solution I came up with for the brokenness of the freelance economy (especially the time wasted in marketing). http://michaelochurch.wordpress.com/2013/05/07/fixing-employ...

It does require you to sell some of your upside, but that's actually a really good thing, because the option holder (who is probably richer and better-connected than you, and therefore requires an order of magnitude less effort to market you) now has an incentive to participate in your marketing process.

Re: So You Want to be A Freelancer

#6

Post by davedx » Fri, Jul 12, 2013, 2:43 PM UTC

lifeisstillgood wrote: post #4

oh hell yes! This is the biggest one in my book Oh, there is one more tiny matter: taxes. Make sure to take a 1/3 of each invoice you are paid and put it into savings for taxes. Seriously, you don’t want to make this mistake.

I'm in Europe, so I save 50%.

Re: So You Want to be A Freelancer

#7

Post by loahou04 » Fri, Jul 12, 2013, 2:44 PM UTC

At least for developers freelancing i dont think even marketing is all that hard. With the number of recruiters and such around its actually quite easy to get calls out and start working within a few weeks. I started out with old co-workers and such but found that the easiest way is to post your resume on one of the career sites (monster, indeed, linkedin, etc..) and you will get a flood of calls. 99% of them will be crap...but if your a 1 man show all you need is 1.

Re: So You Want to be A Freelancer

#8

Post by swamp40 » Fri, Jul 12, 2013, 2:46 PM UTC

Anyone have advice on how to handle health insurance for a family?

I've always been worried that once you stray from the protections offered in a group plan, the insurance will just dump you if you have any major issues. And then once you're dumped it's a "pre-existing condition" and now no one will cover it but a group plan - forcing you to join a company again.

Re: So You Want to be A Freelancer

#9

Post by davedx » Fri, Jul 12, 2013, 2:46 PM UTC

Taking your annual salary and dividing by 1000 could be a sure fire way to sell yourself short and pick up terrible clients.

I would suggest instead to look at what the better freelancers charge (in the US, somewhere in the 50-100 USD range) and figure out where you fit in that based on your skills, experience, portfolio and available work.

Re: So You Want to be A Freelancer

#10

Post by Nursie » Fri, Jul 12, 2013, 2:46 PM UTC

I'd love to go freelance.

Luckily here in the UK there is a thriving(ish) market in contract work. Short time, usually project-based, better paying than perm work. So far it's been quite fun.