A few things that contractors and freelancers could consider for a better year in 2019
Posted on 5th November 2018 by Phil Ainley MCIM
One of the last things anyone thinks about when they are making their New Year resolutions is their business.
Old habits such as quitting smoking, going to the gym more (or even starting to go to the gym), stopping nail biting are always high on the list, yet most freelance and contract professionals don’t look at making key changes to their business practices.
As a result, they should prepare to endure the same type of year as the previous one. If 2018 was in any way a troublesome year, then you can bet on it being the same in 2019 unless you consider making some simple changes.
Problem 1: You didn’t earn enough money – Change: Increase your rates
The cost of living is rising all the time, yet wages never rise at the same rate. What freelancers and contractors need to be careful of is sticking with day rates and pricing that doesn’t cover rising costs.
The fear is that a rise in prices will result in lost clients. That isn’t always the case, but if a client only wants your services on the cheap, then they’re not the right type of client for you in the first place!
Every business expects prices for services to change, so don’t be afraid to make increases for your own services. You’re good at what you do, so you should be remunerated accordingly.
The start of a new year is the ideal time to increase your rates and improve your financial way of life.
Problem 2: Falling number of enquiries – Change: Update your digital assets
The digital space moves on at an alarming rate, which makes it difficult to stay ‘on trend’ and retain good rank results in Search Engines.
Ask yourself, when was the last time you gave your website a face-lift? Or when did you last post anything to Linkedin or to Facebook? Have you ever tried Pay-Per-Click advertising?
If you experienced a fall in enquiries in 2018, then maybe it is time to review and improve your online presence and increase those all-important leads.
Problem 3: You allowed yourself to become bogged down with work – Change: Plan some holiday time in advance.
We all do it. We allow ourselves to work for long periods without a break and before we know it we’re feeling tired, we’re picking up colds, we may be getting ratty at the smallest things. STOP!
Give yourself a break.
Get yourself a wall planner and book your holidays in advance. This gives you something to look forward to and provides a savings target to aim for. Above all, the rest will do you good and you will be reinvigorated when you return to your work.
Where possible, try and schedule your breaks at regular intervals so you’re not working for months on end without a rest.
Problem 4: You don’t know if you’re coming or going – Change: Get organised.
We’re back to our wall planner. A lot of tech-savvy people use a digital device to manage their diary, but if you work from a home office a wall planner provides a constant and instant reminder of what important dates you have approaching on the near horizon.
You will also be able to look back on your wall planner at the end of the year and use it as reference to organise the following year.
Problem 5: You allow renewals without checking them – Change: Check all your policies.
It’s too easy to simply allow a renewal to occur from one year to the next. Car insurance, pet insurance, buildings and contents cover, business insurances, they all need renewing, but do the policies cover you fully for the forthcoming year?
In business, as in life, circumstances change. If you had a particularly prosperous year in your business, then your change in fortunes needs to be conveyed to your business insurance broker so they can ensure your policies will cover you, should the need arise to make a claim.
If you need to sort out your business insurance for the forthcoming year, give our team a call on 0333 321 1403.
We hope these snippets help and good luck for 2019!
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