Being a freelancer is a common occupation these days. It’s not a bad thing; it is actually a great way to earn. Recently, I shared my journey from a freelance web developer to having my own business in PeepCon. Not everyone knows the real story on how I transitioned from someone who just accepts freelance work into getting leads and building a business.
What’s the difference between a freelancer and an entrepreneur? First off, a freelancer gets paid for his/her work. Freelancers charge by the hour or by the project. Meanwhile, an entrepreneur uses money to build a bigger business. Entrepreneurs make money even when they are sleeping.
The transition is far from complete. I am still learning until now the ins and outs of being an entrepreneur. But if you are interested in turning your freelance work into a legitimate business then let me share some tips.
- Operate as a business – Operate as a legal, registered business. Register as a company and be treated as a legitimate business.
- Set up your business processes – Come up with a documented process for the entire business. It can be a basic list of what to do or what not to do.
- Hire your assets – Look for people who can be assets in the company and not just employees. Hire people who can increase the average value and efficiency of your organization. This will have a more long-term effect compared to hiring people who can simply get the job done.
- Establish your presence – Be out there and be visible. Also, be consistent with providing value and engaging with your audience.
- Network like crazy – Be friends with people. Take away the agenda.
- Become a student and a teacher – Seek out to learn both offline and online. Remember to help out and contribute to the community.
“If you’re an entrepreneur, don’t hire yourself. Build a business that works, that thrives with or without you. It might not be good for your ego, but it will be good for your bank account.” – Seth Godin