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How to grow as a Freelancer and manage your Finances?

Every profession and field of work have certain tips that one must know before jumping into it. Lavanya Naidu, a freelancer, illustrator and animator shares some of the tips, especially to manage finances, she has followed.

Freelancer
Dino Buddies

Before I started off as a freelancer, I had spoken to seniors in my field and thus had a brief idea of what to expect. It motivated me to discipline myself from the beginning. When you don’t have a strict schedule and work from home, it can sometimes be hard to have a routine.

 

Some of the key points that I like to keep in mind when taking on a new project are:

Freelancer
Kittu's very mad day

Keeping Deadlines

Aside from the client deadline, I usually create a personal deadline, a couple of days before the expected delivery. This gives me a small window, in case there are unforeseen hurdles during the project timeline.

Freelancer
Kittu's very mad day

Clear Communication

At the start, before taking on an assignment, I prefer putting everything on the table with my client; when to expect drafts leading up to the final files, fixing the budget, making sure to mention when I might be taking time off, and assuring completion in good time. Clear communication keeps everyone on the same page and helps avoid misunderstandings

Freelancer
Kittu's very mad day

Inspiring Work

I try to take on work that helps me grow and challenges me. As the years have gone by, I have become more selective about what I like to take on, but I am always up for trying something new! I find that I can be true to my work when it is something I can connect with.

Freelancer
Dino Buddies

A Clear System of Payments

Although hard, it is important to be able to assess your skill level, the scale of the project, due to deadlines and quote a budget accordingly. It is equally important to set up a clear system of payments, create necessary invoices, and maybe even think about setting up an advanced payment before you begin work, and/or signing of a contract, when you can. I have been lucky to have had clients who have been very good to me but to avoid miscommunication at a later stage as well as to save precious time on both sides, it might be worth planning ahead.

Freelancer

I have found in my personal experience, that having these little details worked out, allows me to fully immerse myself in the creative process.

Since most of us freelancers work project to project, giving a thought about savings or investing money when you can might be useful, even if in small amounts. I find that it gives you a sense of security and also helps out on a rainy day.

Freelancer
A Butterfly Smile

There are some of the things that have worked for me over the years, but everyone has their own formula that works for them. Putting all of the nitty-gritty aside, we are lucky to be doing what we really love to do, that’s half the job done already!

Freelancer
A Butterfly Smile
Issue 42

Published in Issue 42

Every designer wish to be independent and willing to jump into the word of freelance but most of them unaware of the fundamental challenges of the initial phase. So, we dedicated this issue to freelancers and interviewed some established and talented designers to dig deep for the expert advice. Kevin Roodhorst on the other hand, an experienced freelancer from Amsterdam, has recently shifted to be a full-timer with an Agency says “Freelancing is not all roses!” and shared the best way to survive as a freelancer! So, whether you are a freelancer or planning to be one, this issue is a must-read. Go ahead and order your copy here or subscribe to not miss any future issues!

 

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