What are the top skills freelancers should learn in 2019?
- Time and resource management
- Networking with freelancers
- Using technology to streamline processes
- Legislative knowledge
- Pitching to clients
Freelancing is challenging, mainly because of one thing: you are on your own. You have to produce satisfactory outputs for your customers. You also have to be concerned with the administrative tasks such as paying bills, filing BIR forms through a tax calculator in the Philippines, and getting your name out there.
To direct your business better on your own in 2019, here are the top skills freelancers should learn.
Time and Resource Management
Avoid spreading yourself thin this 2019. Know when it’s time to say no.
To make these two goals possible, these are the different strategies you can apply to your management processes.
Spend time on non-profitable tasks
Freelancers focus on their responsibilities for clients since they actually generate cash. After all, if you’re not working, then you’re not earning. But doing so might result in you slowly losing control of your business.
The important non-profitable tasks you should do at least once a week are:
- Sorting your documents (bills, receipts, etc.)
- Organizing your emails
- Tracking of finances
- Write down your expenses, assets, and equity in a log book
- Project your payments in the future week
Many Filipino freelancers often end up paying government fines. One reason for this is that they do not have cash on hand to pay for the necessary monthly expenses for their business. Besides doing your income tax computation in the Philippines, the only way to have readily available money is through plain saving.
To have more funds on hand, you can follow the 30% rule. Whenever you earn money, put aside 30% of it in a separate savings account.
Allow 15 minutes for meeting times
When meetings are planned by the hour, rarely do things push through on time. Usually, clients run around 15 minutes late because they need time to prepare. Instead, set meetings 15 minutes past the hour to not waste your working hours.
Networking With Freelancers
Networking with other freelancers means 2 things: reaching more potential clients and finding people to delegate tasks to. You probably waste time on things that you shouldn’t because you think you’re a one-man show. Instead, treat yourself as a CEO. Look through your connections. Find people who will be willing to do those responsibilities for you with pay.
Using Technology to Streamline Processes
Technology is can help you with almost anything. Often, freelancers just don’t know what processes to use it for.
When it comes to finding apps or websites for potentially improve your freelance productivity, these are the factors you can use to judge the different ones out there:
- Can automate payment of business expenses (ex. Websites where you can pay online such as a tax calculator in the Philippines)
- Can create detailed reports
- Can time your workflow
One technology that you can make use of this year is Taxumo Premium. You no longer have to worry about filing your taxes and submitting them on time. Taxumo Premium will take care of all your tax-related needs so you can focus on growing your business!
Knowledge Of Legislative Practices
Following current legislative practices is one of the most tedious aspects of being a freelancer. But not these will bring you a series of consequences, from fines to jail time.
This 2019, these are the subjects of important business laws you need to know about:
- Your intellectual property rights
- The different insurances needed to cover your different activities
- The different licenses you need for operational purposes
- Payment period of income tax computation in the Philippines
- Payment period of other business taxes
Pitching To Clients
As a freelancer, you need to find your clients. The most effective way to do this is to develop the talent for cold hard pitching; the art of promoting your business to strangers.
To start off, simply look at your failures and successes. Make it a habit this year to regularly look at how your sales efforts will be helping your business.
When you regularly track your successes, you will realize two things: the prospects who tend to accept your proposal and your seasonal achievements. When you know who makes use of your services, you are able to know what segments to focus on. Seasonal wins show you what business’s peak times are. These are times you should put most of your efforts to.
By collecting this information, you are actually practicing business analytics. Soon, you will know how to increase your revenue because you know your prospects and how to contact them.
Making freelancing easier should be your goal this year. As a business entity, streamlining your processes and reaching people should always be a priority.