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Archive for January, 2010
I started freelancing to have more time for myself
Sunday, January 24th, 2010It’s been 6 months since my professional life went down in flames. I was a well paid (at least for the number of hours I’ve worked) radio DJ, with a small freelancing “job” just for fun. I would earn a decent living, was spending more money on all kinds of useless junk and even bought a leased car I’d pay entirely in 4 years. Three years before that my bank rate would go over my salary, but things changed and I was having a good financial status. Not that good to pay 13000 Euro for my car, but enough to get 3000 saved in under 6 months, pay 300 every month and still eat well.
There’s nothing waking you up better than having no more money. The job was gone and I was in a difficult situation: do I chose to work for less than my bank rate? Do I freelance? Am I finally gonna be my own boss? Hell, yeah.
My plan was easy: I’d get my own hours, be able to really enjoy life and earn a buck while doing this. With this well thought plan I hit the freelancing sites and promoted my business to all people I know. How am I doing now?
After 4-5 months I was just able to pay my rates and the normal taxes for a firm, food etc. I didn’t let any debt unpaid and this for me was a HUGE achievement. I do need to pay for some stuff each month (rate, firm taxes, accountant salary, food, gas/electricity etc.) and was scared I’d be putting my family in serious jeopardy with me not being able to cover my “share”. There was no room for ANY savings and this was a huge risk. When you venture into full-time freelancing and have a huge ZERO in your savings account, things cannot be pretty.
I have worked for 10-14 hours a day. EVERY DAY. Yes, I don’t have to leave home to drive to work. I don’t spend time away from my family since I am at home all day long.Yes, I have cut A LOT of expenses (gas, “fancy” clothing, take-away food etc.), so in this matter the new “job” is just perfect. Not to mention I am hugely in love with my work so, spending 10 hours a day on my PC is not an effort for me.
I am with my folks, but still, I am away. I have deadlines, small rates (still), even if I am increasing them periodically, there’s always need to solve something, repair a site, finish a design etc. There are days I go to sleep absolutely exhausted, days with headaches, days when I have difficulties falling asleep, even if I have no problems with this on a normal basis.
Do we count the stress of not earning enough to “make it”? Do we count the fear I might not cover my debts?
So this is freelancing for me, at least the very beginning. The positive aspect is that I do earn WAY MORE than I did before, when I was working “for others”. I have all my taxes paid for and this month I was able to put 250 Euro in my savings account. It’s little money, I know, but it gave me a HUGE boost and pleasure knowing I am getting somewhere.
I still work like a madman, since I am not yet out of the woods. I have increased my rates a bit, even if I am still far from what I should ask for, but money piles on and I can withdraw hundreds of dollars every week. Freelancing doesn’t allow you to sleep late or spend a lot of time watching TV. At least not in the beginning and if you have to earn more than a “normal” wage to support yourself and the family.
My first 6 months of freelancing have been amazing. I was able to specialize myself even more (creating 10 wordpress sites a month does tend to grow your experience), learn new things every day and earn money from working at home. The efforts have been serious too. I can’t recall any time in all my 10 years of radio job I have worked as I’ve worked the past 6 months. Was never a slacker, but the efforts I make now are immense compared to what I did before.
As we speak I am still working 10-12 hours a day. Yes, weekends included. The payment is good, I can save some money, we are preparing for a wonderful journey in NY in the next weeks. In time I’ll be able to take a day off and not “feel” the consequences. I can afford now to have a day I don’t quite work, I just write something in my blogs and talk to my clients. These days are very few in a month, but it’s still a starting point.
Don’t go into freelancing if you’re not willing to sacrifice some months of your time. You cannot make it unless you work to get established and have some money saved. Then, when you’re on your way, you can have some time for yourself. With serious planing and careful time management you’ll earn money, make a living and be able to also live, not just work like a robot.
I am sure I will have more time for myself one day. It’s not yet the case, but I’ll make it.
Freelancing: what to be prepared for
Saturday, January 9th, 2010I have started freelancing in July 2009. It was a shocking change from the advantages or having a fulltime job as a radio DJ and then being fired. Unemployment wasn’t an option for me, getting back in the media business meant having to accept a very very low wage. I wasn’t interested in this so I tried my hand in freelancing.
Even if any decent theory would advise you to start it as a side job and then move full time on it, when you get to a decent revenue, I was forced to take the bull by the horns and start fulltime freelancing. No money in my savings account, was able to pay for my bills for 1 month and a half. And then …
Since I was able to gather some experience in this and survive the entire “game”, I thought it might be useful to you to get some ideas from these months I have spent surviving financially. Here is what you have to expect, if you’re thinking about this.
1. STRESS. There’s nothing more stressful than knowing you’re not getting a new “gig” and still the bills are piling up. You will be more relaxed once your savings account starts looking “decent”, but still, you might have the occasional panic attack. It’s OK to feel this, just don’t let this overwhelm you. Make sure you do save money and are prepared for a “dry spell”. Then it’s all better.
2. WORK. Let me tell you something: I have never worked in MY LIFE as I have worked the past 5 months. NEVER. And I wasn’t a slacker, and was never accused of not doing my job. But freelancing kills you alive, at least till you’re getting to a decent portfolio and that savings account that lets you maybe take a vacation. My biggest enemy now is my urge to work as much as I can. My resolution for 2010 is to actually learn HOW TO RELAX.
3. MONEY or LACK OF IT. You have to understand there are good and bad months. This is why many advise you to keep a normal job and freelance in the spare time, till you get a portfolio up and some constant work. And MONEY SAVED. Then make the move. I wasn’t fortunate to be able to develop this way and I had to work like a madman to recover from getting fired. It can be done. It’s stressful (see point no.1) and takes effort (see no.2), still it can be done. You can prepare for those bad weeks (let’s hope it’s not months) by saving money. I need new sport shoes. I still postpone this for few more weeks. Now I have the money, but I’d rather save. 2-3 more months and I think I can go to a healthy shopping spree.
4. LOW RATES. It is possible to have to drop your rates. I had to lower mine A LOT so that I can grow my portfolio and earn the every-day life money. I could keep my high rates and get a “gig” every 2 months or lower them and have 5-6 projects a month. Yes, I am making quite some money this way. And people still say I need to raise my rates and I am constantly doing this. My portfolio got fat, I have collected a lot of raving reviews from the freelance job sites I work on and get contacted by people who see my work there and want me to create their site. If you are not starting from zero as I had and don’t rely entirely on the freelancing revenue, then you are not forced to decrease your rates. But, if you need that money, it’s a compromise till you’re getting back on your feet. Then you increase them gradually and get to work for the price you’d like to work for.
5. A KICK IN YOUR PRIDE. Yes, being a freelancer is seen by some as a “meager” job. Yes, you’ll have friends laughing at you for not being able to get a “decent” job (they still think being employed is the next best thing), clients giving you hell, and you’ll have to breathe in, breathe out and take their crap since you know you’re also taking their money. With work and experience you’ll receive a better “deal” in time. People will be impressed with your skills and want you to create their presence online, your friends see you’re earning a decent living, with all the freelancing perks (work from home or Puerto Rico, if you want to, set your own schedule, less expenses, more freedom etc.) .. this is the moment the initial “kick in your pride” is paying off.
I don’t want you to be scared. I don’t want you to NOT consider freelancing since it has been THE BEST THING I HAVE DONE IN MY LIFE. I just wanted to share some of the things I wasn’t really prepared for (the negative ones) so that you know what might happen. The first months are the hardest. You are stressed, you work a lot, learn a lot, have to make financial decisions that will shape your freelancing future. But, my god, it’s worth it 
