One of my sons is in the process of backing away from his cushy corporate job to strike out on his own. After a reflexive moment of motherly panic– what about health insurance? The 401K? The money every week whether you need it or not?– I thought, “That’s my kid.” Or not– he’s long since grown up and moved on and learned what he needed to know to make the move. Nonetheless, it’s a huge move, and it comes with a unique set of challenges.

If you’ve been contemplating a similar move, there are a few things you might want to consider before taking the plunge.

1. Create at least one stream of passive income to augment your savings. This can be a short book or e-book that you sell online, a software application, a lucrative affiliate relationship, or even just AdWords on your blog.
2. Join at least one professional association in your field, and do more than just sign the membership check. Get involved and share your information with potential readers, clients, and joint venture partners. In NAIWE, you have many ways to market your work. Once you add your own information, your member site can be the first place you send potential clients. They will see that you’re an active member of your professional association, and that can be a big boost to your credibility as a freelancer.
3. Reach out to others in your field and get to know them, either online or in person. This will give you a pool of people that you can network with and refer for jobs that don’t fit your skills.
4. If you are quitting to write books, have at least a portion written before you leave your job. This will give you something to build on and help you avoid the paralysis of the empty page/empty bank account syndrome.
5. Be sure you know your chosen field backward and forward. Go to conferences while you’re still working and make contacts and learn everything you can. Knowledge is power… and money.
6. Have a written business plan with cash flow projections. It may not be something that comes easily for writers and other creative types, but it’s essential. If you don’t know how to do this, visit your local branch of the Small Business Administration and schedule a consultation with a retired business person. This can be a tremendous help, and it costs nothing.
7. Know your own personality well, and be sure that you have the discipline it takes to treat your freelance career seriously.
8. Find other entrepreneurs to mingle with, and learn all you can about marketing. It doesn’t matter whether you’re working on a novel or landscaping or computer programming– the marketing step can make or break your business. One often-quoted statistic says that during the first three years of a business or project, you can expect to spend 75% of your time marketing. This may sound odd until you realize that marketing is just the process by which you notify the world of your creation. It takes awhile to effectively get the word out and create demand for your book, product, or service, but it can be done if you make it a major priority.

I’m always happy to see a new business launch or a new author be published. It takes courage to take the plunge, but it can pay off both financially and in lifestyle dividends. There’s nothing I appreciate more about my own freelance lifestyle than the ability to work when, where, and with whom I like. I believe that freelancing can be the best job in the world, and if you’re considering it, I wish you well!

Learn the 7 Core Practices of the Lucky Freelancer, and move farther and faster than you ever thought possible! On behalf of the association, I teach these practices so that NAIWE members can transform their professional lives and successfully experience their ideal freelance life. These principles work— I guarantee it!

We offer this program on a space-available basis– just watch the e-zine (The Edge— sign up for it at the home page, above) for details. Registration has just opened for a Fast Track for fall 2009. You may find the application and all the details at www.LuckyFreelancer.com.

Space is limited, so if you’d like to transform your business in time for 2010, be sure to sign up quickly. There’s also a $500 early bird discount for applications received by 31 August, so don’t delay!

If you’d like a printable mini-poster of the 7 Core Practices, you’ll be able to download it when you sign up for the e-zine.

TheCore Practices can help you become a Lucky Freelancer!

Some People Get All the Breaks

 

Practice #1: The Lucky Freelancer learns the mindsets and habits needed to spot and seize “the breaks.” [Read more…]

When it’s an impromptu coaching moment!

I received an e-mail a couple of weeks ago from a prospective member who was struggling to make an adequate living as a freelance copywriter. The writer’s credentials were outstanding, his list of previous clients was impressive, and his writing style was compelling, and yet he still struggled to stay afloat. His question was very basic; “I’m working 10 hours a day and barely making ends meet. How can I find more hours in the day?”

The question reminded me of the story that Stephen Covey tells in The Seven Habits of Highly Effective People (a book I recommend for entrepreneurs and anyone who wants to lead a more effective life) of the man who scaled a difficult wall, only to discover at the top that he’d been climbing the wrong wall. My correspondent didn’t need to know how to find more hours in his day, he needed to learn how to more effectively use the hours he had.

If you’re working ten hours a day and not making ends meet, something is wrong with your business model.  Since NAIWE is focused on helping members build solid, profitable freelance businesses, one of the things I enjoy doing is slipping a bit of quick coaching into e-mail responses. I asked the writer several strategic questions designed to help him think through the elements of his business and point him in a much more profitable direction. This morning, I got another e-mail from him: [Read more…]