The events of 2020-1 showed the world that viable spaces exist for freelancing and remote work.
However, after the excitement of the uncharted waters wears off and the competition sets in, it’s normal to wonder how to succeed long-term.
Entrepreneurs face competition, plus they manage their shops, which include:
- Paying taxes
- Registering their business
- Managing expenses
- Marketing
- Optimizing client retention
Moreover, freelancers are small business owners, especially in the eyes of the Internal Revenue Service. Therefore, independent contractors must change their mindsets to achieve career goals.
Statistics show that 70.4 million individuals worked as freelancers in 2022. Then, 36% worked full-time and long-term. Thus, 64% treat freelancing as a side hustle and gig work, which is excellent for saving extra cash or gaining more experience in specific areas.
Turning independent contract work into full-time careers is possible. The top earners take home $117k annually on average.
Freelance accountants earn $28 hourly and between $55k and $99k on average, while freelance wax specialists earn $22 hourly and $50k annually.
Interested in becoming a freelance accountant? Selfgood outlines the starting steps.
Individuals interested in diving into the freelancing labor market long term must set goals.
What are Freelance Career Goals?
Freelance career goals are professional goals that freelancers set for themselves.
Most freelancers set monetary targets for themselves. Then, exact objectives vary after that.
Nonetheless, freelancing objectives can mirror the ones set by their W2 counterparts, such as climbing the theoretical corporate ladder by gaining more experience.
After setting financial targets, shared goals for this labor market include:
- Gaining a certain number of clients
- Working a set of number of hours weekly
- Becoming thought leaders
- Improving work/life balance
- Retiring within a certain number of years
Let’s explore how to set objectives.
How To Set Freelance Career Goals
Setting goals remains an art, and for entrepreneurs setting goals is vital. Independent contractors answer to themselves and their clients, requiring focus, motivation, and commitment.
The following are three tips for setting freelance career goals.
Be Realistic
To avoid disappointment, especially as a new member of this labor market, be realistic when establishing objectives.
Although the top freelancers bring in $117k annually on average, it takes time to become six-figure earners.
Plus, independent contractors must manage their time wisely and work enough hours without burning themselves out.
Thus, set realistic objectives.
Research the Market
Researching the market is a great way to establish realistic targets. Find out how the market behaves, what it offers, and the competition’s depth.
Then, individuals have the information they need to maintain a marathon pace.
Complete a Self-Assessment
After researching the market and scoping out the competition, complete a self-assessment.
Then, determine the ability to compete in it and what it takes to stay in the market long term.
For example, freelance accountants should enjoy working with numbers daily and solving complex financial problems. Rideshare drivers should enjoy driving and delivering customer service at a high level.
In addition, determine the current skill level and how it matches it up to the market. Even experts have room to grow, but the aim is to determine how much growth is needed to achieve long-term career success.
How To Achieve Freelance Career Goals
Now that freelancers can establish some career goals, let’s look at how to achieve them.
The following are three tips for achieving freelance career goals.
Read more: Freelancers Union
Make a Commitment
Shooting for freelance careers requires long-term commitments, and so does achieving goals in any facet of life.
Sometimes individuals get lucky and accomplish their targets. However, long-term strategies require a high degree of allegiance.
Therefore, commit to the goals.
Invest in the Venture
Next, invest in the venture. In 2023, diving into the freelancing waters is easier than ever. Professionals can find free productivity software to start.
Then, many developers offer free trials and subscriptions that scale costs with the number of users and other factors.
Nonetheless, freelancing careers require periodic investments, including:
- Smartphones
- Laptops
- Electronic device accessories
- Communication services
- Marketing
- Business registration maintenance
- Insurance
The latest and greatest tech gadgets make freelancers more productive and efficient. Then, tailor other investments to specific industry needs.
Establish a Community
Freelancers work alone and answer to themselves; over half operate as solopreneurs. Therefore, freelancing can become an isolating venture.
Thus, joining freelancing communities and establishing support systems at home doesn’t hurt.
Talk with others about goals to build an accountability mechanism. Independent contractors who turn the venture into careers will experience ups and downs, the effects of economic turmoil, and seasonality.
Achieving goals requires steel focus, thick skin, and support from loved ones. Professionals can also find support from others who have also experienced the trenches.
Conclusion
The process of setting and achieving freelance career goals starts with a deep inward dive. Then, individuals can work outward. Achieving goals requires commitment, and it doesn’t hurt to establish a support system.
