Setting up a business is indeed something to celebrate; however, daily life can quickly catch up with a freelancer. Click here to learn which tools freelancers can use to make improvements in their project management or time tracking. Important aspects of invoicing and taxes are also mentioned. Let’s start with the acquisition of orders.

You should always perform an assessment.

When it comes to acquisition, the first order of business is for the freelancer to know what he or she enjoys doing. Moreover, this activity must generate a value that ensures adequate remuneration. In order to find clients for this activity, freelancers should generally use various portals so as to avoid creating the impression of pseudo-self-employment. Of course, freelancers can find both good and bad clients on these portals, and the rates that the clients are willing to pay can vary. In the beginning, the self-employed should not accept work that is paid at a rate of more than 10% below their desired wage. Even though this may sound negative at first, many freelancers do not have references, and they can hardly ask for a higher fee.

Contact with clients should never be completely broken.

Generally, you should never work for free. Naturally, you should try to collaborate with good clients. Sometimes, however, this is not possible. Nevertheless, you should reestablish contact every now and again to inquire whether there is an opportunity to collaborate on a project. The self-employed can also obtain offers of collaboration passively. Many online portals inform you of upcoming projects by email. This cuts down on the time that freelancers need to spend in searching for new work.

Are there tasks that can be outsourced?

Then, if a new project is found, it is simply a matter of getting things done. Many self-employed people spend too much time planning. Instead, they should work on the project, while respecting the Pareto principle. This implies that 20% of the total resources are consumed for 80% of the results.  The remaining 20% then require 80% of the resources. Freelancers should ask themselves whether they really need to make this additional 80% effort, because they may be able to outsource some tasks. This brings us to time tracking.

Buffer publishes planned contributions to social networks.

Time tracking is often considered when setting up a new business. Many freelancers attempt to record their time either in writing or with the aid of a tool.  The tools Findmyshift and Evernote, for example, offer this capability. Incidentally, some online portals monitor time tracking by means of screenshots to ensure that freelancers are actually working and not spending their time on Facebook. In general, various tools can also be used for the latter case, for example: Cold Turkey or Selfcontrol. Both tools make sure that social networks are blocked. Of course, social networks can also be used for one’s own business. Buffer is one of the tools that freelancers can use for this. Buffer plans all posts to social networks and even publishes them on various networks. This is a huge time-saver for the self-employed. This can even save time when it comes to invoice generation.

What are the expected revenues?

An invoice template should always be available. The same is true regarding awareness of tax issues. The most important tax provision, which already plays a role at startup, is the expected sales revenue. If this exceeds 17,500 euros, then the status of small entrepreneur no longer applies, and different taxes must be paid. Among these are the VAT and the income tax.

For this reason, there are several aspects that the self-employed need to consider before launching their business. However, with the tips we have mentioned, you should have no trouble in successfully establishing your self-employment. We wish you every success!

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