Freelancing: Getting Started in Austin

by Leslie Hancock (freelance writer since 1996)

Are you considering boosting your income with a little freelance income on the side? Or are you thinking of taking the plunge and freelancing full time? Current economic conditions make it easier in some ways and more difficult in others than in the past to be a self-employed communications professional.

It’s easier because more companies are outsourcing pieces of their communications work rather than paying someone’s salary and benefits in-house. It’s more difficult, though, because there are more people on the market as freelancers than ever before; many who have lost their regular jobs have begun freelancing to fill the gap. Some are desperate and willing to take much lower rates than long-time freelancers, driving down the market for everyone and making it more difficult to make a full-time living as an independent professional.

Before you let go of a full-time job, assess your ability to take the financial risks of freelancing. If you have a spouse or partner who makes a steady income and can help flatten out the ups and downs of a freelancer’s income stream, it makes it far easier to make that transition. If you are on your own, you’ll want to try to build a “cushion” of savings first that can take you through potential dry spells. Know that sometimes there will be more work than you can handle, but other times you may find yourself scrambling for your next project for longer than you’d like. It’s the nature of the business for most freelance creatives.

The cost and availability of health insurance may be another deciding factor for you. If you have preexisting conditions and cannot get coverage on a spouse’s plan, you may not be able to get independent coverage for yourself for now.

If the risk is acceptable to you and you still want to throw off the shackles of your full-time job, you should take some steps to prepare before you become a full-time freelancer. First, work on building up your professional network and begin telling people about your skills and experiences long before you go independent. References through your network are likely to make up a large part of your business, both when you’re new to freelancing and beyond. In the meantime, work on building up a cash cushion to tide you over if the work is slow at first. Write a business plan to keep you on track (the City of Austin offers free resources and advice to entrepreneurs).

Then take on a project or two that you can do in the evenings and on weekends. When you have too many offers to handle in your free time, that’s your signal that the time might be right to let go of your day job.

If you’re an AWC member and interested in exploring the idea of becoming a freelance communications professional, join Freelance Austin to learn more. Freelance Austin is a committee of AWC, so it is free for current members. It’s just $35 per year for non-members. Visit the Freelance Austin website for details or leave us a comment with any questions.

 Photo uploaded to Flickr Creative Commons.