Freelancing is all about selling your services to someone without signing any service contract. The research conducted in 2015 shows that in Australia there were more than 4 million freelancers working. Freelancing has its own perks that have its appeal for many people such as freedom, location flexibility, earning control, improved skill set, work for your passion, in short, you can be your own boss.
It is observed that freelancers are usually designers or creatives, with a specific skill set such as graphic designing, web development, web designing, and animation. They provide services that are required by other businesses on an ad hoc basis.
If we talk about the average income of a freelancer in Australia, it is between $80,000- $90,000 annually. For beginners, it starts at around $60,000 per year, and for experienced and skilled freelancers it can go up to more than $190,000 per year.
Here we have formulated some useful tips for those who are planning to enter into freelancing business:
Get an Australian Business Number (ABN)
You first need to register for an ABN, it consists of a unique 11-digit code for your business before you begin getting paid by the customers. Setting up an ABN is free and easy. Just log in to the abr.gov.au site and provide your personal information and you will get your ABN in no time. If you are working alone then you will need to register yourself as a sole trader.
Start looking for work
In the beginning of your freelancing, it might be hard for you to find work. There are various ways to tackle this problem to get a project. You can reach out to your previous business connections or people you know like your friends and relatives to give you leads, or you can share your services on your personal website or on social media. There are various platforms such as Upwork, fiverr, LinkedIn and freelancer and more, where you can find your potential clients.
Whether you are working as a graphic designer or a web developer, you need to be organized and disciplined to submit your work on time. You need to choose a productivity technique and then follow it religiously.
You are your own boss and therefore you have to be self- disciplined. As you are working remotely and dealing with different clients at one time, you need to master a methodology or productivity techniques that may help you get your multiple projects done on time.
Use online invoice templates
For the payments, mostly freelancers use invoices to manage their online payments from the customers after the work is done. You can downloadable invoice template available online. Make sure that every invoice must include:
- contact details
- Business name
- Description of the work done
- Number of hours worked including GST
- Bank details
- Invoice number and date
- Payment terms
It is best if you research the market rate for the services and skills you are offering to your client. Make sure that the rate you determine must cover your costs and living expenses. You must take into account the time and effort you put into the project.