Your career
Freelancing – 9 benefits and ways to find work. Working for yourself as a freelancer/contractor/interim consultant is a career option that people often fail to consider. However, it was a great model for us as we researched and set up Movemeon. We recommend the freelance route particularly for professional services people starting out as entrepreneurs. Perhaps freelancing could be a good option for you to explore.
Here we share some benefits and some tactics for finding work.
The benefits
- Freedom to leave your current job without your next permanent role lined up.
- Pays the bills if you’re researching a business idea.
- Pays well. There are 2 rules of thumb on knowing what to charge: i) your permanent salary divided by 100 (remember as a freelancer you won’t have any benefits or paid holiday); ii) the day rate that your employer charged you out at divided by 3.
- Avoids ‘gaps’ on your CV.
- The work tends to involve more responsibility. The client will want you as a mini-project manager, you’ll ‘own’ the relationships, have more exposure and be your own boss.
The ways to get a freelance job
- Use Movemeon. We know, we know…. we’re biased! But we’ve had some great freelancing roles come through the site – so keep your eyes open and register for free freelance job alerts.
- Let your former employer know. You’ll be surprised at the number of clients that will approach a firm with smaller jobs (that aren’t worth your employer’s while to pitch for), or part-time jobs (that they couldn’t staff given that they only have full-time employees). Your employer could recommend your services.
- Let your friends and colleagues know.
- Let your former clients know (subject to terms of your employment contract with your former employer).
Freelancing need not be forever, but it’s often a good option for now. If you’re freelancing, we’d love to hear your thoughts – email: [email protected]
Your career
The benefits of freelancing
Freelance consulting offers a range of benefits – good pay, a range of projects, working with new clients, however, one of the main rewards it offers is what some may argue is the world’s most valuable commodity (and always in short supply) – it gives you more time. In this day and age, where everything seems to be running on fast forward, more time is something we all crave but never manage to attain. If you stopped a passer-by on the street and offered them three wishes what would they wish for – wealth, fame or maybe just a Nando’s black card? The one notable exception, for the most part, will be the wish for more time. This isn’t because we don’t secretly all crave it, we’ve just grudgingly accepted it’s something we’re never going to achieve for most of our working lives.
It’s important to define what I mean by ‘more time’. Time is relative to how we choose to spend it – an hour spent commuting to work can’t equate to spending an hour doing something you truly love to do. ‘More time’ to me means being able to spend more time with friends and loved ones, to travel more or just being able to sit in the park and read a good book – basically doing all the things that make life worth living – let’s call this ‘golden time’.
The ‘golden time’ privilege
‘Golden time’ is being able to do the things you look back on at the end of the week and just say to yourself ‘it’s been a good week’. It could be as simple as painting a picture on a summery Wednesday afternoon or dropping your child to school every day, everyone has their own definition of what ‘golden time’ actually means to them. Some of my fondest memories in life are those occasions that happened as a result of having more ‘golden time’ – babysitting my niece for the first time after pulling a ‘sickie’ from work, taking a gap year and traveling through Cuba & Central America instead of jumping straight into a job after university – all things I wouldn’t have been able to do without this ‘golden time’. That’s not to say I don’t love what I do for work, on the contrary, I actually consider myself incredibly lucky to be doing a job I actually really care about – but if you were to ask me if I think I have enough ‘golden time’ in my week – I’d say probably not. I think it’s safe to say that I’m not alone feeling this way. Most of my friends are in high-flying city careers and every time we catch up they all have the same complaint – work’s great but I don’t have enough free time to do the stuff I really want to. It’s something I think you feel the older you get with big milestones acting as a period of reflection. I turn 30 next month and it’s got me thinking – how will I remember my 20’s? Did I really do everything I wanted to – if not, then what was stopping me?
In my opinion, being able to claw back more of this ‘golden time’ is probably one of the main and often most undervalued benefits of freelancing. This ability to earn some more ‘golden time’ is achieved through flexing work-life balance so that you’re able to continue sustaining your current standard of living (paying bills, mortgage, school fees etc.), but freeing up ‘work time’ and devoting it to all the pursuits that you’re most passionate about. This could be either through having the flexibility of only working certain months of the year or being firm with clients that you’re only going to working certain hours on a freelance project. In today’s work environment, so much emphasis is put onto achievements & promotions but I promise you this – show me someone who’s managed to build a healthy amount of regular ‘golden time’ into their weekly schedule and I’m confident their level of contentment will be unmatched versus so-called ‘high fliers’ in the city. When you manage to master the life of a freelance consultant, I’d firmly put you into this category. There isn’t a single category of ‘worker’ I’d classify as being more content with their personal and professional lives than freelancers who’ve mastered the art of switching off when not on a project and keeping ‘golden time’ sacred – no exceptions. The temptation will always be to feel ‘productive’ and scout out new channels for potential projects when you’re not working – but the fact is, if you’ve set yourself up properly and put in the hard graft to establish a strong network of potential employers, there will be regular occasions you can afford to switch off – a truly rare luxury in this day and age.
One of the main reasons I love the freelance space is because I get to meet some amazing freelancers who fill their ‘golden time’ doing some of the most amazing things imaginable. To that end – I’ll finish this piece by listing some of the best adventures and ‘golden time’ pursuits I’ve come across having met hundreds of freelancers over the last few years. Some might find some of these endeavours somewhat mundane, however, that’s what makes ‘golden time’ so amazing – something as simple as being able to spend time with family could be as rewarding and fulling as climbing Everest or running a marathon.
- Training and representing my country at the Ultimate Frisbee Championship
- Taking summer off to take the kids back to China so they can re-integrate with their roots
- Going coast to coast on my Harley Davidson
- Visiting 100+ countries
- Swimming the channel and great lakes
- Launching a start-up that’s going to change the world
- Flying half-way around the world to see my favourite band perform their new album
- Finish my work by 5 pm every day so I can train for the marathon with my 18-year-old son
- Hiring a mustang and doing the route 101 road trip
- Helping my wife for every bedtime during our toddler’s terrible two’s
Happy Freelancing!
Recruiting
Recently, I wrote an article about a conversation I was had with the ‘Head of People’ at a rapidly growing FTSE 250 business. The question was whether they were missing a trick not specifically targeting freelancers to work for the business. The question underpinning that was whether the quantity and, more importantly, the quality of freelancers (some people call them contractors, independents or interims) is rising. The simple answer is yes.
Here are the main reasons behind that:
- Platforms – like movemeon.com – make it easier to find this type of work
We provide a marketplace for high-calibre freelance consultants. But you also see these marketplaces at other ends of the market (e.g, outsourcing some legal bits & bobs, getting a logo designed, finding someone to clean your house). Technology is creating great market places which drive supply on both sides of that market (in our case freelance consultants and opportunities for them).
2. Given it’s easier than ever to find the work, there’s a lot about freelancing that naturally appeals to people
The chance to work for yourself on your own terms. The flexibility to work hours that suit your home life. The ability to take the school holidays off to be at home with the kids. The opportunity to earn a good day rate and therefore annual income while still saving the client mountains vs. using a consultancy (remember the day rate your firm charged you out at?!)
3. Consultants work all the hours God sends (or near enough)
So, if someone decides they’re not in it for the long haul, it’s often impossible to find the time to discover and land the right opportunity. So, increasingly we see people just leave without another permanent job to go to. They leave because they know there’s a ready supply of freelance work for them. And they can freelance to pay the bills while they hunt down their next permanent gig.
4. Freelancing really helps to build one’s network
Typically, you meet a lot of different companies. Often you also meet PE funds who are a conduit to a whole host of portfolio companies. So we often see freelancers landing permanent jobs just because they are freelancing (either they go permanent with a client or the permanent job comes through the network they have time to develop while freelancing).
5. Freelancing is better understood and a more widely accepted move
Historically, hiring managers have been snobby about time spent working in ‘non-permanent’ roles. But times are changing. Just because a role was freelance, doesn’t mean it wasn’t a good role and it certainly doesn’t mean the person is no good. Quite the opposite can be the case so it’s important to understand that person’s story and motivations behind the freelance work.
There’s a really important point that comes out of all of this and is at the core of the implication. Very high caliber people are dipping into freelance work between permanent roles. That’s particularly true of people just leaving consulting – and particularly at the manager level (when people look up at the partnership and decide it’s not for them). These have historically been viewed as the ultimate prize for employers (particularly PE funds who specifically target Managers from McKinsey, Bain & BCG) and these prizes are becoming more readily available.
Historically, organisations have felt that ‘career freelancers’ are not consistently high caliber options. That’s a huge generalisation (there are many brilliant career freelancers out there) but it is a commonly voiced impression. The point now is that there’s a far greater supply of non-career freelancers – who could be a great short-term asset to your business, and perhaps, even, someone that turns into a ‘try before you buy’ permanent hire too.
Recruiting
When hiring freelancers, there are a number of things clients can do to maximise their chances of hiring the right freelancer for them. As with any hiring process, there’s never a guarantee you’re going to get things spot on every time, however, with these tips & tricks, hopefully you’ll improve your success rate moving forwards.
Learn from previous hiring processes
How have previous freelancers performed in the business – is there something you wish you had asked them at the interview, now that you’ve worked with them for a few weeks/months? Hiring processes should be a learning process for employers as well as candidates, with important takeaways being integrated into future processes.
When things do go wrong with freelance hires, it’s important to try to understand what safeguards can be brought in during the interview process to avoid repeat situations.
Learn from current employees/freelancers
What do current employees/freelancers say could be improved in the hiring process? It’s amazing how many clients don’t tap into this vital knowledge pool. Current employees will give you candid/unfiltered information. If you have any freelancers on site, they should be your first port of call when it comes to refining your interviewing process.
Spend time creating a proper project brief
Given the quick turnaround times involved in most freelance hiring processes, it’s often easy to skip past the step of creating a proper job brief. Sometimes, you’re just desperate to get someone on site as soon as possible. This creates a mismatch between freelancer and client expectations, which leads to a number of challenges around how & what work is delivered.
Create milestones for every project
Milestones create an element of accountability for both employers and freelancers. If it’s clear what’s expected in the project, set against a timeline, both parties are reassured that they’re working towards the same goals at a pace that’s agreed upon. Even having a rough outline will be beneficial to all involved.
Milestones also help break a project into digestible ‘chunks’, which helps timeline/map out how the project should be tackled. For instance, instead of creating a brief that only says ‘freelancer needed for a market entry project in China’, add a little context around what the market entry strategy will involve (preferably in order). You can then set milestones against this. This could include a competitor analysis, internal/external market forces to factor in, logistics, etc. You can then discuss prioritisation of each task and you’ll have a clear list of executable tasks to work against.
Don’t forget to sell your business, as well as the project
Freelancing is on the rise and the volume of projects is increasing month on month. This rise in supply means freelancers now have far more choice for the type of work they choose to pursue, compared to even a few years ago. This means employers need to differentiate themselves versus competitors to capture the best talent in the market. So if you have any USPs in your business, be sure to mention it in the job description as they can sometimes tip things in your favour.
Quite often freelancers like to establish long-term relationships with the clients they work with. That’s why it’s essential clients sell their long-term vision for the business, not just short-term projects. This enables freelancers to look past only immediate projects. They’re more interested in your business, which is far more likely to get them over the line, compared to selling just a single short-term project
So there you have it! A few tips and tricks to help improve your freelance hiring success rate. As with many aspects of business (& life), all 5 of these tips revolve around effective communication (both written and verbal), so make sure you always remain receptive to improving your own hiring processes – no process is ever perfect!
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Your career
Freelancing has become an increasingly popular career – either a forever job or as a bridge between permanent roles. Both movemeon’s founders have done it. Here’s what to think about if you’re considering making the switch. This first post is about setting yourself up successfully.
When you decide to make the jump from full-time work to freelancing – also known as a contract consulting and sometimes interim – it’s important to make sure that you’ve set yourself up in the correct way and that you’ve thought through the practicalities of life as a freelance consultant. The setup process itself is quick and relatively pain-free – taking 2-3 days at most.
The essentials
1. To work as a freelance consultant, you need to set up as a sole trader, limited company or join an umbrella organisation. We’ll be covering the pro’s and con’s of each in a separate post – but as a general rule of thumb, we found the limited company (in the UK) route offers the most benefits – such as keeping the taxman happy. Run a quick google search and you’ll find plenty of companies who can help with the setup process. Equally, it’s quite easy to do yourself.
2. Set a range for the day rate you wish to charge. It’s important not to be too rigid with a specific rate and remain flexible. You might, for instance, want to set a lower rate for a longer piece of work. It’s always worthwhile scoping out new projects, overlapping what you know, with what a client wants and then being able to justify why you’re charging a specific rate. Do you bring something extra to the table, specific skills, relevant domain knowledge or flexible working arrangements – all things that can help you achieve a higher rate? We’ll cover the different things to consider when setting a day rate in a future post, but for now, it’s worth sticking to the golden rule – you should be paid for what you’re worth!
On this, I was once told that my day rate should be my previous salary divided by 100. Why 100? Because it takes into account the fact that you – as a freelancer – receive no benefits (paid holiday, pension, bonus, healthcare etc) and also risk not being able to work 240 days a year (for ‘full time’ pay).
Oh and remember a day rate = a defined length of day that you should agree with your client. You should work what you’ve agreed (not hours and hours into the night beyond your agreement; note a little bit of flex is recommended!)
3. Make sure you have the correct insurance in place before starting a new project and always qualify with a new client what type and value of insurance they require.
4. Are you up to date with your current/former employers non-compete policy and what, if any, restrictions you may need to observe?
The practicalities
It’s important to keep in mind that with your new-found freedom also comes a greater emphasis on having do things yourself – gone are the days when hotel and flight bookings magically pop up in your inbox! Here are some of the main things you should keep in mind when you’re about to become/have recently started as a freelancer:
1. Try to leave your current / most recent employer on good terms. Freelancing is a great way of life when it works, but if, for whatever reason, it’s not something that works out it’s always nice to have an invitation to return to your current/previous job.
2. Ensure that you’ve budgeted for ‘lean’ months when you won’t be working and may require some additional finance (holiday periods, school fees etc). This will tie into our post on how to calculate the right day rate.
3. Be sure to think around your project pipeline and how you plan to find new work – Movemeon is a great place to start of course! And don’t forget your network!
4. Don’t be disheartened if at first, you fail to make any real traction in finding your first project. As you build your project experience and client network, finding new work becomes a smoother process and eventually, you’ll be living the dream, with previous clients knocking down to complete some follow-on work.
5. Think about the type of freelance consultant you’d like to be – generalist, industry or functional expert. It’s important to think about this as early as possible as clients strongly favour candidates with a strong track record in a specific industry or function.
Click here to view successful movemeon members who have been hired as freelancers
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