When freelancing and running your own small business, besides having the tools and skill sets specific to your particular craft, trade, or profession, there are some other freelancing must-haves that are almost universal to all freelancers, solopreneurs, and small business owners.
Here are 5 of them to consider.
1. A support network
Freelancing can be lonely, especially if you are a remote worker. That’s why it’s important to cultivate a supportive community of like-minded people around you.
Your support network could include other freelancers and small business owners in your industry, as well as those serving different industries and professions. The key is that these business buddies ‘get’ where you are at.
While your support network could also include friends and family, its primary purpose is to include people or organizations that can support you from a business perspective—people who have experienced issues you are facing and who you can support in return.
A business support network can also be a good place to refer and get new business – so it can be a win-win all around.
You could join a specific community set up to serve your needs or develop your own network—on or offline—preferably a nice mix of both.
Your business support network should be a safe and friendly community where you can get the support and encouragement you need and also help others.
2. Good online tools
Nowadays, there are a raft of online tools available (both free and paid) that can help you automate business processes and set up effective workflows that can shave hours off your day, leaving you to focus on doing what you love and running a profitable business.
It’s worth having a regular review of your business processes so you can free up time by automating your workflows.
When it comes to invoicing your clients so you can get paid as effortlessly as possible, it makes sense to make use of good invoice software.
Invoice Ninja is a leading free invoicing software for small business invoicing, online payments, tracking expenses and billable tasks. It also includes attractive, professional invoice template designs you can customize with your logo and brand colors.
What’s more, with Invoice Ninja, you can connect to thousands of apps via our platform integrators, such as Zapier, Make, Pabbly and more – further speeding up your workflows.
Take a look at some of them here.
And try Invoice Ninja for free at the link here.
3. A rainy day fund
Ideally, you’ll be running your business at a decent profit, but there may be times when you experience a negative cash flow; in these situations, it’s essential to have a buffer fund that you can dip into to pay your bills and keep the lights on!
When starting out, it makes sense to have money saved before you go freelance to get you started and tide you over during the times when you don’t have immediate clients or work or experience the freelancer feast and famine cycle.
The absence of a backup fund might lead you to take on unsuitable work just for the money or take on too much work, which can lead to freelancer burnout.
Knowing that you have access to funds if you really need them will help with your freelancer mindset, which leads us nicely onto the next must-have!
4. A growth mindset
Freelancing and running your own business will inevitably have its ups and downs. There can be as many opportunities as there are challenges, and, of course, many things might happen that we simply cannot predict.
That’s where having a growth mindset can really help.
Freelancers with a growth mindset seek opportunities to grow and evolve. They have goals and overcome limiting beliefs. They look for ways to develop their skills and talents.
A growth mindset allows you to turn challenges and setbacks into learning opportunities so you can bounce back quickly, develop new skills, and grow at the same time.
A growth mindset is a crucial asset for a freelancer and can make the difference between struggling for work and running a highly successful and lucrative freelance business.
5. Adequate rest
Finally – a small business owner’s ‘must-have’ is adequate rest and recuperation.
Plan regular time out away from your business so that you can return refreshed and healthy – in both mind and body. Despite what you may have heard, freelancers can, do, and should take vacations. It just requires a little planning ahead.
For more information on how to take time off work as a freelancer, see our article here.
Taking breaks is vital for everyone, but overwork and working long hours are something that freelancers and solopreneurs, with their sometimes unpredictable cash flow, can particularly fall prey to. This inevitably leads to burnout, which can have a negative impact on your health, not to mention your finances.
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Naturally, depending on your business and strategy, there are other must-haves to consider, such as an online presence—so you can effectively market yourself online and people can find you via your SEO-optimized website or social media channels. Likewise, self-discipline and consistency, so you always show up, are also fundamental traits to adopt as a small business owner and freelancer.
