Is there an entrepreneur in you and wanted to start a freelancing business?
If there is, you’ll no doubt understand the pull of emotions when you are in a full time job but your heart yearns to explore new ventures.
In fact, there are many like you, and this is why the world is seeing an absolute boom in the number of people who’ve decided to sculpt out their own dreams.
But wait! How can you make time and start freelancing while working full-time?
The following 10-step method will help you for taking up freelancing while working full time and lead you on to success:
1. Prepare yourself mentally and make a commitment
Committing to something is the first step to success, no matter how long or hard the journey may turn out to be.
Committing to something is the first step to success Share on XYou’ll need to prepare yourself mentally for sacrifices that may involve things you love to do in order to make time to get your online business up and running.
Make a list of all the commitments you have and how long you’ll need to spend on each of these.
This list will include sub-tasks related to your venture, as well as possible options where you can lessen your involvement to save time.
Analyze yourself and understand when you’re most focused so that you can make time to work on your online business at the best part of your day.
Also, analyze your attention span and existing commitments so that you can give your venture sufficient time for it to be fruitful.
2. Make an inventory of your skills
Next, list out the skills your freelancing business will require and map your skills to each of these.
Finally, prioritize your skills and classify them so that you know what you’re good at and what you’re great at.
3. Determine the need for your business idea in the market
You may have the greatest idea in the world and you may have the perfect skills to get it up and running.
However, if the market doesn’t really need it, you’ll waste a lot of time, energy and effort to get it launched, only to have it doomed to failure.
So validate your business idea with a poll or survey and abandon anything that will not work.
4. Analyze your competition
Analyze your competition and create an advantage for yourself in the form of costs, offers and support so that you get more customers, sales and margins than your competitors.
5. Set realistic long-term and short-term goals for yourself
Smaller goals will give you the motivation to reach bigger ones.
Smaller goals will give you the motivation to reach bigger ones. Share on XSo segregate your goals into weekly targets and monthly targets and before you know it you’ll automatically reach your bigger goals.
6. Create a road map from start to finish
Create a roadmap which should be realistic, and based on inputs from family, friends, co-workers or professionals.
Once your plan is in place, get started on the actual work.
7. Outsource your weaknesses
Hire freelancers to do the job for you or bring in a contractual employee who can work closely with you to finish the project.
8. Getting relevant feedback
Share your thoughts on like-minded social media groups, online communities or with fellow professionals and gather feedback.
9. Never let your business venture be just a “better” version of your day job
While this may be tempting, you will end up breaching your contract and this can be detrimental.
Additionally, never use your company’s time and resources to work on your venture.
Avoid the temptation to ask your boss for suggestions, or if you absolutely should, tread carefully.
10. Let your freelancing business reach critical mass
You need a steady source of income and your day job fills this need.
If your freelancing business hasn’t reached a steady profit margin that is equal to or greater than your present day job, you’ll end up worrying about cash flow if you have absolutely nothing in hand.
Conclusion
In summary, having a full time job is not an insurmountable obstacle to getting your freelancing business up and running. With sufficient planning and implementation of these ten steps, you will be the next big success the world sees!