Guest Author Lance Cody-Valdez, Digital Nomad at free-lance-now.com
If you’re ready to take your career to the next level, it may be time to think about launching a small business. As a small business owner, you can hire a team of employees (or freelancers) to work for you — and delegate the tasks you no longer have time for. You’ll continue to set your own hours and be your own boss, but you’ll be given the opportunity to take on extra work and grow your business more quickly.
If small business ownership sounds like the right career move for you, follow these steps to turn your freelance work into a successful small business!
Think (And Act) Like an Entrepreneur
Are you ready to make the switch from freelancer to small business owner? You’ll need to start by shifting your mindset — and taking the time to learn essential business skills such as leadership, accounting, marketing, and sales. And fortunately, it’s easy to build entrepreneurial skills without going back to school to earn a full degree or professional certification.
Here’s how to make it happen:
- Watch or listen to TED Talks.
- Read books, including The Lean Startup and Crossing the Chasm.
- Take free online business courses through edX, Coursera, and Future Learn.
Form a Legal Business Entity
If you’ve been running your freelance business as a sole proprietorship, now is the time to choose a new legal structure and register your business as a limited liability company (LLC), corporation, or partnership. You’ll also need to register your business name if you haven’t already done this as a freelancer.
If you need help choosing a legal structure for your company, you may wish to meet with a lawyer or connect with your local Chamber of Commerce. The US Small Business Administration is another great resource for growing a new startup.
Set Up a Home Office
When you’re a small business owner, even if you’re out of the office, you’ll likely still have work that needs to be done, so it’s a good idea to set up a home workspace. Furnish your space with a comfortable chair and desk and make sure you have a dependable headset for those Zoom calls. Try to locate your office away from high-traffic areas of your home. The less noise and distractions there are around you, the more productive you’ll be.
Build an Online Presence
As a freelancer, you may already have an online portfolio of your best work. But when you’re launching a company, you’ll also need a website, blog, and social media presence. Start by building a business website, setting up social media accounts on Facebook, LinkedIn, Twitter, and Instagram, and publishing blog content pertinent to your business. Then, promote your website online, share blog content on social media, and start building an email list.
Improve Your Knowledge of Cybersecurity
After you’ve worked so hard to turn your freelance career into a real business, the last thing you’ll want is to fall victim to a cyber attack. Social engineering and phishing attacks all-too-commonly affect small businesses, and unfortunately, many small business owners lack the time, money, and knowledge needed to protect themselves and reduce their risk of becoming a victim. Fortunately for you, free online programs and resources can help to improve your knowledge of cybersecurity, train your employees about the importance of cyber safety, and create an effective security plan for your small business. Cybersecurity doesn’t need to cost a fortune, but it’s an expense you won’t want to skimp on.
Assemble Your Team
Once you’re ready to start assembling a team of workers, you can check out websites like Upwork, Toptal, Dice, and Stack Overflow to look for freelancers. Or, check out Nathaniel Koloc’s tips for hiring your first employees as a small business owner.
By following these five steps, you’ll be on your way to turning your freelance business into a successful startup. Just don’t be afraid to stop and ask for help if you need it. After all, one of the things that separate freelancers from small business owners is knowing when to seek help from others!
Photo credit: Unsplash