Hot answers tagged

5

As others have said .. all answers are opinions to some degree. For myself, I have dipped in and out of contract/freelance work over a 40 year career. I've built up about 15 years of freelancing in that time, so I can add practical experience to my opinion. My rule of thumb is 1 year's net income kept in cash as an emergency fund. That sounds a lot, but it ...


3

I like the way you and your friend think and operate, starting so young and using both your talents! I hope for your sake, it lasts for many, many years. But you need to start setting some rules. First off, each of you should list off your abilities, and label them on a scale from 1 to 5 about how you feel with each skill. This should help you determine ...


3

Ideally you should start freelancing in your spare time while still maintaining your day job - either after you get home from work, or on the weekend - and not transition into full-time freelancing until your side work is going steadily enough for the transition to be safe. This will help you gain clients, and get an idea of what to expect from freelancing ...


3

Things I would include in client cost besides straight out of pocket expenses: Mileage. Standard practice includes enough to cover wear and tear and insurance on your vehicle. You may have already factored that in, but just in case... Whatever percentage of your cell phone or business phone bill that gets used to make sales calls every month. SEO, if you ...


2

I have been freelancing since 1994 across Europe. How much money to start? How long is a piece of string. Will your client pay you within 30days? 60days? Don't assume big rich clients will pay soon - it does not always work out that way. I had one client who took seven months to pay 10 weeks worth of invoices. Figure out your expenses - will you work ...


2

Fellow US-German here with freelance clients in Germany. First, your immigration status is important. If you're not allowed to work in the US, it's my (non-lawyer) understanding that you can't engage in work, not even as freelancer. If you're allowed to work, then, as a freelancer, you'll be subject to local (e.g. city, county) or state rules. In most ...


1

I Can Understand asking these type of question to your clients is very tough but surely you can put some smart question . =>Asking for client satisfaction is very import over your work . Most of the clients pay late just because they were not happy with your work or they might need more modifications. =>Always try to find the reason behind late payment ...


1

This is a pretty neat idea, because a lot of freelancers (myself included) struggle with late payments. What's probably really important is to get a picture of these types of companies - are there certain things that make a company more likely to pay late? Is the client large, medium, small, or a single-member/entrepreneur? Is there a chain of approval for ...


1

If this is your only source of income, I recommend 6 months worth of living expenses. I came up with this number based on my spouse's home theater installation business (which he had for 15 years). There were slow months and busy months, and a pattern emerged after 2-3 years. Having a 6-month cash reserve gives you enough to handle most emergency ...


1

So you passed the first test - finding clients and managing to finish the project. That is the most important aspect. But now you will face a new area - business management. That is a horror for programmers since it's out of our expertise. I am sure all guys freelancing for longer time will be able to tell you how to manage their business, but myself and ...


Only top voted, non community-wiki answers of a minimum length are eligible