Tips for Going Freelance after Redundancy

Being made redundant can be a highly stressful life event that no one wants to have to go through. It can be a very emotional time, as you will be leaving behind a company and a team that you love.

Whatever reason your employer may have for making you redundant, it can also deliver a blow to your confidence. Some people will choose to see redundancy as an opportunity to try new things.

Freelancing can be a highly rewarding career path after redundancy that will allow you to put your skills and experience to good use in a new venture. If you’re thinking about going freelance after redundancy, consider these important steps to ensure your freelance career is successful.

Determine your USP

Making the transition from office worker to a freelancer is a big adjustment to make. Rather than finding work landing on your desk every day, you’ll be responsible for winning clients and managing every aspect of your business.

Before you get started as a freelancer, you’ll need to make an inventory of the skills you can offer and use this list to determine your USP.

Maybe you specialise in marketing for the beauty industry or graphic design for the construction industry. Once you’ve determined your USP, it will be much easier to decide what skills to offer your clients.

Set your rates, and don’t sell yourself short!

Setting your rates is always going to be a challenge. By doing some research into other freelancers offering similar services, you’ll soon get a better idea of what they are charging.

The alternative is to work out how much income you need per month, how many billable hours you will have per week and then determine how much you’ll need to charge per hour in order to meet your income requirements.

Find a place to work

You may already have the perfect home office, or you may want to look for a co-working space that will inspire you to do your best work. Now that you have complete freedom over where you work, you’ll be able to set up your office anywhere. You can read our advice on alternatives to working from your dining room table here.

Get the word out

The biggest challenge that freelancers face is getting the word out about their work and their services. When you make the decision to switch to freelancing, you will have to decide how you plan to promote your business.

You could start a website and list your skills and services, or you could use professional networking sites like LinkedIn to make important connections.

Lastly, you could use good old-fashioned word of mouth. Let your friends, family and work colleagues know that you’ll be available for freelance work – you never know what opportunities might arise!

Don’t forget your freelance business insurance

Freelancing comes with more risk than more traditional employment, so it’s important to be prepared for anything. Insurance can protect you from anything from contract disputes to being too ill to work.

With freelancer insurance from Caunce O’Hara, you’ll have the support of our whole team, so you can focus on building your career. Click below to start building your freelancer quote.

Get a quote for your freelance insurance here

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