Enraptured by the idea of running your own business so you’re your own boss? Sick and tired of answering to a tyrannical boss at work? Love the idea of getting up whenever you want to without having to apologize to your manager and team at work?
Please, please listen to me when I say this: When you run your own business, you have lots of bosses. They’re your clients, vendors, and, yes, even the government.
So don’t quit your day job to start your own business just because you can’t stand the manager you have right now.
Freelancing is Like School
One of the best things our education system teaches us is how to adjust what we produce to meet the needs of the person in power. In school, college, and university, that’s your teacher, instructor, professor. At work, it’s your boss, and likely even your boss’s boss, your boss’s boss’s boss, and so on.
You had to look at the course requirements, you likely listened for hints from other students on how to succeed in a teacher’s class, and you may even have visited rating sites to find tips for profs you were stuck with.
School was the perfect training ground for running your own business. Some clients will be happy with almost anything you produce, and some will have exacting standards you need to meet. If you want to find success, you’ll have to learn to adjust to each client’s preferences.
Running by Your Own Rules
There are also consequences if you ignore your clients’ wishes and requirements. Yes, you can set your hours without asking anyone for permission. That’s true. But if a good client calls you up and says they have $1,000 worth of work for you to do the week of your vacation, what will your answer be?
There are ways to mitigate such situations, and I thankfully haven’t lost any business yet because of family time away from home. But I have taken on last-minute work that needed weekend time to get done, because otherwise I would’ve lost out on $700.
Choosing Your Clients
The plus side to needing a variety of clients is choice: you can choose whom you want to work with. For some, that is the ultimate freedom. If a potential client is already very demanding on the phone before you’ve even agreed to a contract, you can politely decline, saying you’re busy. Or you can refer them to someone who may be willing to work with them. (Just because you don’t jive with that person doesn’t mean someone else will have that same feeling.)
If your client roster is full of people you enjoy working with, then almost every assignment is fun and fulfilling. Unlike in an employment situation, where you have the same boss, no matter your feelings about them, you have some leeway with your clients.
I love freelancing, and I don’t want to turn you off running your own business if that’s what you really want to do. But if you’re doing it to escape the nightmare boss you’re working for right now, you may be better off just getting another job.
Running your own business can cause a lot of financial insecurity, and you have no employment laws to protect you. Client not paying on time? Can’t call the labour board. Client shouting at you over the phone? Can’t talk to their boss about harassment. Did someone choose not to work with you because of your sexual orientation? I’m certain you won’t have much of an argument at the human rights tribunal.
If you need to force a client to do something, it’s up to you to get a lawyer involved. And it’s up to you to pay for it.
Do This Self-Test
If you’re planning to freelance, write up your business plan. In it, include your ideal type(s) of client AND where you think you could find them. Then gear your marketing plan towards that. Estimate time and cost, and add 15% (because it’ll often take longer and cost more than you think).
You still run the risk of finding less-than-ideal clients, but once you sit down and think this through, it should help clarify if running your own business is really what you want.
Because you will hopefully find out how hard marketing is and think twice before you strike out on your own. Freelancing is extremely fulfilling, but some aspects of it are extremely hard, and finding the right clients can be one of those aspects. But don’t go into freelancing because you get to be your own boss.
Because you don’t.