Top 5 skills you need as a freelancer

   Freelancer employment has plenty of benefits. You have flexibility in choosing where to work, what to work on, and control over your financial destiny in addition to choosing when to wake up in the morning.

According to a 2015 study by the freelance job platform Upwork, nearly 4.1 million Australians, or 32% of the total, were employed as independent contractors.

Freelancers may very well be the workforce of the future as more millennials embrace the "gig economy" and more companies are willing to outsource expertise. It is feasible to build a successful career by "becoming your own boss," but this requires having a necessary set of both soft and technical skills.

The top five abilities one needs to succeed in the realm of freelancing are covered here.

5 must-have skills for freelancers

1. Time management.
2. Social media marketing.
3. Communication.
4. Finance.
5. Persistence and motivation.

1. Time management.

It's important to approach your freelance work similarly to an ordinary office job. Keep a running record of all your project objectives and pressing due dates on a daily or weekly basis. Once you've assigned a priority to each work, follow a rigid timetable every day. Make sure to schedule your freelancing work with other daily obligations to maximize your productivity and maintain a healthy work-life balance.

Eliminate distractions, just as you would with any professional assignment, to make sure you stay focused. This could be turning off social media or simply getting out of bed to work, resisting the urge to stay in, or relaxing.

It's important to keep your day organized. You are now solely in charge of how you spend (or squander) your time. Once you've developed a disciplined pattern, the deadlines are less intimidating and you may confidently accept a high volume of client work while still being a dependable, effective worker.

2. Social media marketing.

The capacity to market oneself is essential while working for oneself in a one-person operation.

Although attending traditional networking events is a fantastic method to meet potential clients (as well as subject matter experts), research has shown that obtaining freelance work online is becoming more and more successful. In fact, 68% of Australian freelancers concur that technology on the internet has made it simpler for them to discover new clients and client work.

By having a solid understanding of effective social media platforms like LinkedIn, Facebook, or even Instagram, you may profit from this online industry. These sites serve as popular platforms for advertising your products and services, running online promotions, and connecting with other professionals in your industry.

Additionally, familiarise yourself with freelance job boards like Upwork, Freelancer, and FlexJobs.

It's critical to integrate your freelance business given the fact that millions of Australians are connecting on social media. Smart social media marketing can put you in touch with organizations that require your expertise or who can recommend you to others who need it. You can at the very least boost your exposure among other people in your business and develop an active, positive internet reputation for yourself.

3. Communication.

Communication is a crucial soft skill for any freelancer, whether you're seeing clients in person or sending them professional emails.

According to studies, 51% of customers opt not to do business with a person or firm again after having a bad experience. Therefore, it's critical to grasp how to develop solid, fruitful connections with other clients and freelancers while expressing a clear comprehension of their requirements and expectations.

Four essential components, according to independent business consultant Diana Marinova, are using clear, professional language, responding quickly, asking as many questions as required, and making sure that all agreements are documented in writing.

Additionally, having strong writing abilities will make you stand out from the crowd. Knowing how to write clearly, concisely, and without errors not only demonstrates your professionalism better but also makes selling your ideas and business proposals much easier.

4. Finance.

The independence that comes with working as a freelancer comes at the expense of benefits offered by companies like paid time off, employee contributions, and salary management.

You are now entirely accountable for your financial security, so you must gain a thorough understanding of financial management and fundamental accounting principles.

The first step is to figure out how much your services are worth. Make sure you aren't selling yourself short, but also that you aren't overselling yourself and scaring away potential customers in the process. Establish your rates in accordance with the prices your competitors are charging by contacting freelancers in your industry or checking compensation websites like PayScale.

Next, develop a budget. Forbes reports that financial gurus advise following the 50/30/20 rule, which involves trying to live on 50% of your income, setting aside 30% for "flexible expenses," and contributing 20% to savings. You can accomplish both your long- and short-term financial goals by adhering to this.

Finally, develop tax management skills. Make sure your ABN is set up, educate yourself on PAYG installments, and learn what costs you may be eligible to deduct from your income as a freelancer on your tax return. It's also strongly advised that you contribute personally to your retirement account. You can always speak with a financial expert or accountant for assistance if you're a novice who might find this process intimidating.

5. Persistence and motivation. 

Last but not least, it's critical to continue down this career route with persistence. Even though it offers the flexibility that every employee seeks, freelancing can ultimately be a dangerous, unstable endeavor. But for those that persevere, it will be well worth it.

No matter how much their gig paid, research shows that 58% of freelancers who left traditional employment wouldn't choose to return. It just serves to highlight how fulfilling this profession can be, despite the ambiguity and lack of financial security.

However, one must make an effort to maintain attention when obstacles arise. Focus on your objectives and keep thinking about the steps you need to take to reach them. Even if you're working from home, you should still present yourself professionally. Research in the field of psychology demonstrates how this genuinely affects your professional perspective. Create a decent workspace for yourself and strive to continually advance your knowledge.

As was already stated, take your new position seriously and the results will come as a result.

Although working as a freelancer might be challenging, there wouldn't be a thriving sector if it weren't so rewarding. Any aspiring freelancer would benefit greatly from having these fundamental talents, and in time, you might even end up being your own boss doing what you love.