Taking the leap into self-employment or freelancing is an exciting time, with the ability to set your own rates and choose clients. It will require some investments to make it successful, including dedicated software and a visible presence. If you’re newly self-employed, operating as a sole trader, or freelancing, check out our guide to establishing a sustainable foundation below.
A Professional Online Presence
Having an SEO-friendly online presence is essential for self-starters. It will help you establish credibility and compete effectively in the digital landscape. Start with a comprehensive LinkedIn profile that showcases your experience and is visible to potential clients.
Next, you can create a basic website with a domain name and a sitemap to help search engines index it. Include industry-relevant keywords and naturally incorporate them into your content, titles, meta descriptions, and URLs.
By implementing these SEO fundamentals, your website will rank higher in search results, making it quicker for customers to discover. With organic traffic, you won’t have to spend large amounts on adverts. Remember to include contact information, such as a free email account.
Basic Bookkeeping and Invoicing Tools
Keeping on top of your finances will help you manage cash flow and leave clear records to submit to HMRC. You can choose from single or double-entry bookkeeping, depending on the nature of your business.
Single-entry is a quicker, more straightforward option, but it can be prone to human error. Double-entry is more accurate and traceable, but it will require a professional accountant, something you may lack at the start of your solo career. Whatever option you choose, use software or a well-organised spreadsheet to track your income from invoices and outgoings to keep your finances stable.
Essential Business Insurance
If something goes wrong, you’ll need insurance for financial protection. If you provide a professional service that involves advising clients and having access to their data and copyrighted material, you should consider professional indemnity insurance. It protects you if your business makes mistakes that cost clients money, covering legal fees and compensation for defamation and professional negligence.
Public liability insurance is a good option if your work involves contact with other people, such as hairdressing or construction. It covers the cost when third parties (members of the public) are injured, or their property is damaged due to your business activities. The key is to consider the most significant potential risks arising from your work and to pick essential coverage to avoid costly legal fees.
Effective Time and Task Management Strategies
Without a company or boss to report to, managing your time can be difficult. Establish clear daily goals and break large tasks into manageable chunks to avoid feeling overwhelmed.
There are loads of free or low-cost digital tools, such as Trello and Microsoft To Do, to help you create and prioritise your to-do lists. These apps allow you to track progress and stay focused on high-priority items. Pair them with calendar tools like Google Calendar to schedule dedicated work blocks and set reminders for deadlines and routine tasks.
