Today it’s common for people to quit their daily jobs and decide to be their own bosses. The world of freelancing offers a variety of possibilities. However, it may also lead to making mistakes which could even compromise your relationships with clients and your reputation. Still, making mistakes when you are new to freelancing is a part of the learning curve. The truth is that no one becomes an experienced freelancer overnight. Sometimes, people tend to learn lessons the hard way. In this article, we are going to discuss some of those mistakes, and how you can avoid them.

Don’t Let the Client Name the Price

It’s tough to decide what you’re going to charge at first. This, however, doesn’t mean that you should let your clients take advantage of you. After all, you provide a service as a freelancer just like any other business. Excuses like the client’s “limited budget”, or a promise that they will do business with you just won’t cut it. Research your industry and learn the average hourly rates. Furthermore, look at other freelancers and see what they are charging for the same service. Then decide on the unique value.

Don’t Spread Yourself too Thin

It’s true that you want to earn as much profit as possible doing what you do. However, this doesn’t mean that you should take up as many projects as you can, because it will certainly have an effect on the quality of what you come up with. If your choice is to spread yourself too thin with your tasks, don’t think that your clients will not notice. They will certainly feel frustrated by the fact that they aren’t given the appropriate amount of attention. You will end up delaying things and coming up with work that is rushed. Only take up as many projects as you are comfortable with actually doing.

Don’t Treat Your Income Merely as Profit

Working only for yourself means that your income isn’t going to be a fixed number. Items such as taxes, accounting, business registration, payment processing fees, and other costs are now your responsibility. You don’t want to find yourself in the situation where these expenses pile up and you are left penniless. To avoid this mistake, you should put aside at least 30% of revenue for taxes and other expenses. It might also be smart to incorporate payment processing fees into the project quote. Treat your income as an investment as sometimes you will have to pay for services such as the Yak Portal, to find help or purchase products needed for you company. 

Don’t Forget About Your Integrity

There will often come the times when you will be asked to take up projects that are against who you are as a freelancer and what your beliefs are. Everybody is looking for a way to make a living and pay the bills, but it doesn’t mean that you should do things that are against your principles or don’t sit well with the way you work. The result of such choices will end up being feelings of resentment and bitterness. Don’t forget that you decided to be a freelancer in order to do what you really love to do. Therefore, you should turn down projects that you don’t want to do. Your integrity is extremely important.

Don’t Let Work Take Over Your Life

Freelancing comes with the temptation to work a lot and talk about business with your family and friends all the time. This, however, is not a good idea. Your work/life balance will change severely, and you will end up being stressed out, compromising your personal relationships. In the end, you still need to simply relax, and not let freelancing become your entire life. If you think that you have reached this state, then maybe it’s time for you to take a holiday, so you can rethink everything and start anew.

In Summation

Freelancing has many advantages, but it comes with its own hardships. You will make mistakes, and you will learn from them, in order to become better at what you do. The competition a bit high, to say the least, so it would be wise to learn from the mistakes of others that to waste time making them yourself.