What are you going to do?

Even if you’re planning on freelancing in exactly the same field as your current employed position, it’s worth taking a moment to consider how that’s going to work.

The work might be the same, but the requirements on you won’t be.

You’ll suddenly be responsible for:

  • Finding work
  • Working out rates
  • Paying for your business’ running costs
  • Accounts/bookkeeping
  • Getting your legal things together (contracts, insurance, etc)
  • Marketing yourself

...and more. Many freelancers find they’re only able to bill 50% of their working time because all the other stuff is so time-consuming.

This isn’t to discourage you, but new freelancers are frequently surprised at just how much time and effort non-work things take. Of course, it’s possible to hire someone to take care of each of those aspects of your business, but you’ll probably want to keep initial costs low and take the opportunity to find out what’s involved in each task.