Often when people think of setting up their own small business and becoming freelance, they imagine that the cost is prohibitive and they go back to the desk job. So far, though, through necessity, I would honestly say that I have freelanced on a shoestring budget. So if you think you can’t afford the outlay of freelancing, perhaps it’s time to think again.
As I said in my first post, when I first started out freelancing I had practically no savings so splurging was out. In fact, the total for my start-up costs was £399, and I have now just about paid the monthly instalments off! That was for my trusty laptop – I started out using the house PC but as me and my boyfriend vied for computer control on an evening, I realised I should bow out gracefully and stump up for one of my own.
As I have now got going I have started to think about where it’s worth me spending a bit more. However, I’m glad that in the early days I didn’t let my inability to afford a swanky computer and an all-singing, all-dancing website hold me back.
Here are some of the areas where I have saved:
So far I have used a free email address and, shock horror, a free website address. Some people feel quite strongly about the latter and believe it’s unprofessional-looking and a recipe for commercial suicide. I am now thinking about getting a simple website designed, but I’ve been busy enough work-wise for ten months courtesy of the makeshift site I’ve got. If you can’t afford a whizz-bang website just yet, it might not be as big a deal as you think. Unless you’re a techy or a designer, in which case you might not get away with it!
When I first started out, I didn’t have much (any) spare money and I definitely didn’t have a ‘marketing budget’. When people think marketing, they often think expensive ads, printing costs and PR. Most of the marketing I have done has been cheap and cheerful. I’ve used testimonials on my site from happy customers, I’ve sent speculative emails and I’ve attended free networking events.
I’ve also saved myself a fortune on books and courses and saved loads of time by chatting to other freelancers online and in real life. Talking to people on forums and asking experienced freelancers questions has taught me so much and very quickly.
More ways I’ve economised:
- I don’t print anything unless I need to. This is partly because I am scared of changing the ink and toner – it always ends in a mess and/or tantrum. It still saves money though.
- I’ve borrowed magazines and books from friends and libraries rather than purchasing them myself. It also helps with my ongoing de-cluttering project.
- I’ve skill-swapped. For example, I made the tea and my friend designed my business card. I also wrote a quick press release for a friend in return for some techy help with my website. I’d rather pay people for their time, but when they were in the same boat as me, it worked out well.
- I wouldn’t go as far as to go out of my way not to call someone just to save money as I think that would be a bit silly. As a general rule, though, I use msn messenger, email and Skype for most work (and some non-work) communications and it does keep the old phone bill down.
I’m not a total tight wad though. These are some of the areas where I have splurged or am thinking about it (feel free to talk me out of splurging, though, if you think I’m wasting my money):
I want a good chair! I work in all sorts of places and positions round the house and I am starting to think it has to stop. I need to get into the habit of working in my office and sitting on a decent chair in there as I do worry about the effect the plastic IKEA chair/sofa/bed have will have on my back’s long-term health.
I recently splashed the cash to join my local Chamber of Commerce. One of the reasons I joined was because of the legal help I’d be entitled to should anything go awry. I recently heard a horror story of a freelancer I know not getting paid and the hassle, time and costs involved in sorting it out. I also get free networking events and reduced cost courses so I’m hoping that I’m speculating to accumulate.
I have started looking into investing in some courses (at a reduced price, though – see above!). I’ve learned a lot for free but now that things are settling down a bit I’d like the bolster the old CV and get some professional feedback.
I’ve got myself an accountant. I did my first tax return myself, but not without a certain level of hysteria. My rationale is that what I will save in time, taxes and tantrums will be more that worth the reasonable fee.
In many freelance industries you can set up your freelance business for very little if you’re determined and happy to build things up as you go. Research the costs and find out what’s realistic, but remember that with a bit of frugal freelancing you could be up and running sooner than you think.
I’d be interested to know where you think freelancers, especially newbies, can save money and where skimping is a false economy. See you on the forum.
Feb 25, 2009
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