"I went outside to get coffee and ran into three different neighbors who wanted to chit-chat. I wanted to scream, ‘For every word that comes out of your mouth, I’m losing money!" This is a statement from someone who either hasn't been freelancing that long, or who hasn't realized that "brain down time" is just as important as raw coding hours. I've worked "for myself" for almost 20 years and for the first 5 I too pan…
The Psychological Trap of Freelancing
181–190 of 254 posts
Re: The Psychological Trap of Freelancing
#182Re: The Psychological Trap of Freelancing
#183Earlier quoted context omitted.
If one lives a modest life (no Ferraris/Great-Gatsby-parties), on a sensible financial management, one can have north of £/€/$1m on the side, in one decade(speaking for UK/EU/USA)(for contracts on IT/IT Sec/GRC/PM.
I think the vast majority of people would find it incredibly difficult to save ~7.5k per month for 10 years (assuming an annually compound savings interest of 2.2%), to hit 1M. That type of savings goes beyond "no Ferraris/Great-Gatsby-parties".
I can do 2.5k a month as a not massively well paid employee
Re: The Psychological Trap of Freelancing
#184Re: The Psychological Trap of Freelancing
#185Earlier quoted context omitted.
I do roughly the same, and besides charging a high rate, I usually do only one project at the time for 2 - 6 months. With my clients I make a deal about my daily rate * number of days per week I will be working. I never charge more than that, except when I do a lot more work and then I communicate it in advance (or I foresee that the extra work is going over the amount of hours we agreed upon). This is not applicable…
Would you guys mind speaking a little on your path from salary to freelance? I want to make the jump but it seems scary and I don't really have anyone to talk to about it? How are you guys finding work?
Always make the relationship a business to business one. Don't get stuck being the "hired hand". Just doing the job isn't enough, always provide more value, get involved in their biz if you can. Don't work from home, work on site, "out of sight out of mind" is a thing, and is the fastest way for a client to see you as expendable.
The best way to find work is to build a network. The best way to build a network is to get a gig with a bunch of other contractors at it. Then work hard, and be pleasant to work with. Once that gig dries up, and all those other contractors go out to find new gigs, if they liked you, they'll recommend you for openings at another client. Rinse and repeat.
I got very lucky in that my first contract was a 6 month contract on a team of 15 other contractors (at a F500 company). That 6 months turned into a year and when the money ran out, I had a network of 15 other people to lean on. Since then I've never had to look for a gig, they've all come to me.
Re: The Psychological Trap of Freelancing
#186"I went outside to get coffee and ran into three different neighbors who wanted to chit-chat. I wanted to scream, ‘For every word that comes out of your mouth, I’m losing money!" This is a statement from someone who either hasn't been freelancing that long, or who hasn't realized that "brain down time" is just as important as raw coding hours. I've worked "for myself" for almost 20 years and for the first 5 I too pan…
The problem though is how do you bill clients? If you're "working" and surfing HN you could possibly bill that, but walking around talking to neighbours doesn't cut it.
Re: The Psychological Trap of Freelancing
#187"I went outside to get coffee and ran into three different neighbors who wanted to chit-chat. I wanted to scream, ‘For every word that comes out of your mouth, I’m losing money!" This is a statement from someone who either hasn't been freelancing that long, or who hasn't realized that "brain down time" is just as important as raw coding hours. I've worked "for myself" for almost 20 years and for the first 5 I too pan…
50%? Even less in my case. 3 hours a day is plenty to get paid as much as I was before on a salary. Honestly I find the time-related issue as a freelancer is having too much of it, and putting it to good use rather than just lounging around.
Re: The Psychological Trap of Freelancing
#188Does anyone have recommendations for what I can read to get started freelancing? I had a very successful religious mission, so I know I have "sales" skills, and I'm a pretty good software engineer, but I feel like I spin my wheels when I look for freelance clients.
https://makemoneyonline.exposed/
Simultaneously hilarious and incredibly valuable information I had never before heard. The people in the Kai Davis sphere of influence are all pretty helpful for freelancers and consultants.
Re: The Psychological Trap of Freelancing
#189Earlier quoted context omitted.
> I went from hourly, to per project, to weekly billings I have tried all three, read all the HN favourites on why value pricing is the way; tried charging for roadmapping; and yet I come back to the most stressful of day-rate (hourly by any other name), unable to break this in 15 years of technical consulting. Why? Because with per project billing I was losing 30-50% as client expectations were different to mine. Wh…
What is your change request process?
I have done everything from formal documentation of changes, requiring pricing and sign-off for every variation, to vaguer schemes.
The change request system sucks; it loses sight of why we're building the software and turns into a war of attrition.
The issue is always they say the spec is open to interpretation and they meant this, or they expect it to work this way (which is slightly different now they see it, but in scope because every single interaction can't be specified in advance). And either way they see no reason to pay.
So it ends in arguing and bad feeling; the client has an expectation that's not met without paying more and feels it's my fault, that they're paying when they shouldn't. I've lost time and much emotional energy.
I have gone as far as to have a "What's not included" section in every contract which helps, and that if it's not mentioned specifically then to assume it's not included; but it's a non-ideal situation.
Re: The Psychological Trap of Freelancing
#190“If we’re already in the time-is-money mindset, we can reframe our leisure time as something that enables us to be more productive in the future,” It’s a bummer that we’ve gotten to a point that in order to relax and enjoy time off we need to somehow frame it as “productive”. I think it speaks to something deeper.
As my friend recently said, "When I work, I'm typing text into a text box. When I play, I'm also typing text into a text box. What's the difference?"