Lessons for freelancers to learn post-Coronavirus
Coronavirus has had a significant, unprecedented impact on businesses and individuals, with freelancers being among the worst hit. While there has been expert advice for freelancers, a dip in demand has meant that many have struggled.
While you can’t go back in time and do things differently, you can change your future. Take a look at the following lessons for freelancers to learn post-coronavirus so that you can protect yourself in the future.
Stay on top of your books
Image Credit: Unsplash under Creative Commons
One of the issues many freelancers have faced at this time is not knowing the latest about their accounts. This has meant many overdue invoices have gone unpaid by clients who are also facing issues, and tax and expenses details aren’t up to date. You can change this by using simple bookkeeping software. Managing your accounts and updating them regularly will give you a much better idea of your business’ finances, so if the worst should happen again, you’ll be much more clued up about the situation you’re in.
Focus on building better client relationships
Building strong client relationships is a must for any freelancer, as is ensuring good word of mouth. Many businesses are having to cut back on their activities now, external payments being one of the first to go. But working closely with your clients, even the ones you work with less frequently, will help keep you in mind the next time there’s work to be done.
Reaching out to clients during lockdown, and even offering some discounted services, could help things pick up and get you working again.
Get emergency savings in place
The importance of savings has never been truer than now. Freelancers and the self-employed have had to wait to receive assistance from the government, which has caused issues for many. By vowing to boost your emergency savings, you can cover yourself against future emergencies, including sickness and quiet periods.
It might also be worth looking at some form of income protection insurance to help cover you against any future difficulties you might face.
Learn to stay productive during downtime
If you’re used to being busy, then facing a quiet spell can be a challenge. While it’s a good opportunity to take some time off and recharge, anything more than a couple of weeks will soon leave you bored. Take this time as an opportunity for learning and developing your skills – there are all kinds of online resources you can take advantage of! Meanwhile, spend some time searching freelance portals for work – you never know what you might find on places like People Per Hour to keep you busy.
It’s a difficult time for everyone, and there will no doubt be lessons to learn about all aspects of life once this is over. As a freelancer, you owe it to yourself to protect your future and make sure you’re equipped to cope with a crisis. Learn lessons from this uneasy time make some key improvements going forward.
