Creating Business Structures with the Future in Mind
The unfortunate truth is that many people who attempt to go freelance fail. Of those who make the attempt, a smaller amount manage to brave the unknown and make a living for themselves doing what they love best. An even smaller number of freelancers are able to build their businesses to the point where they can’t handle the work they’ve got – let alone take on any more clients – and are doing very well for themselves, financially speaking. Sometimes these guys are happy to draw the line, cut back on the marketing efforts and keep going as is, but another group wants something more: to create a business that can expand, to work less and make more all while giving other deserving freelancers the chance to have more work.
It’s definitely possible to create a business from a small but successful freelance operation. There are many challenges – for instance, how do you transition from a personal brand to a business brand without losing recognition or customers? But perhaps one of the most important struggles is creating a structure that works. All too often, freelancers create their start-ups with all of the organizational structure that they had before – in other words, for most, none.
How to Keep the Best of the Office Life as a Freelancer
Nearly five years ago, I said goodbye to the day job and hello to the work at home lifestyle. I’ve never regretted it. I don’t miss commuting, office politics, kowtowing to the boss or the lack of control over my time.
However, there are some things about office life that are worth keeping. A sense of structure, interaction with other people and a feeling of security are a few perks of the day job that many freelancers feel like they’ve lost. Here’s how you can have the best of both worlds.
Incorporating as a Freelancer: The Questions You Need to Ask
Most freelancers automatically set up business as sole proprietors. In most countries, running a sole proprietorship is as simple as hanging out your shingle — the government only cares whether you pay your taxes on time. Just because operating as a sole proprietor — also known as a sole trader in some parts of the world — is the easiest option, however, doesn’t mean that it’s the best. For some freelancers, making the switch to a corporation or another business structure can offer some benefits.
If you just automatically moved into running your freelance business as a sole proprietor, there are a couple of questions worth asking yourself. Depending on the answers you may find that incorporation makes sense for your business.
Friends with Structure
“This is about structure,” the therapist said.
I’m sitting across from her because my husband found me sobbing into the carpet of my home office, again, some more. She’s sitting there because I’ve reached the point, now, where I need to pay people to listen to me.
“I thought this was about huge, huge amounts of anti-depressants.”
“No. For the first time in your life, you don’t have outside structure dictating your every move. And it is affecting your writing, and you are very angry.”
