5 ms·
I would say there is no exact "right time" to quit and become a freelancer. While going off on your own can be highly rewarding, it is not without stress and re
by jeffmould 13y ago
I would say there is no exact "right time" to quit and become a freelancer. While going off on your own can be highly rewarding, it is not without stress and requires high degrees of focus and hard work.
With that said, if you are single I would have at minimum 3 months of living expenses saved up before I even thought of quitting my full-time, secure paycheck job. Preferably you would have 6 months to a year worth of savings just in case. If you are married and have a family, I would at least say 1 year worth of savings before I quit.
Prior to quitting though, I would get my feet wet by finding small jobs on the side and slowly building up clients. This is good not only from the experience prospective, but provides you with contacts and portfolio material.
Managing your time can be tricky and everyone has their own methods for doing it. Personally, I use several lists to keep track of on-going tasks and use software like Basecamp to manage projects. My lists that I keep are for daily, weekly, and overall project tasks. Each day I try to complete at least the daily list and build the next days list from the weekly and project lists.
Working for yourself it is inevitable that there will be slow months or months where you do not get any new clients. This can be depressing and add stress. The key here is to not let it get you down, know that everyone experiences bad months and just keep moving forward with current projects. For slower months I always reach out to past clients to touch base, feel them out for additional work, and depending on the relationship I have built with them, see if they know anyone looking for my services. Referrals are your best friend.
I am not going to try and make it sound glamorous, freelancing is not, but on the flip side it can be very rewarding and provide you with excellent learning opportunities and growth. Just understand that there are a lot of things that going on long with it. You are now responsible for all your own taxes, insurance, and the "business" side of the house.
Based on your job title, it sounds like you are young and just getting started. I don't know your experience level or education, but I would say solely based on your title, to continue working for a few more years at least. If freelancing is something that interests you, start small and part time finding and taking on small jobs here and there if you can. This will give you experience managing your time, working on projects independently, and a little extra income, all while you still collect a steady (and guaranteed hopefully) paycheck from your employer.
Good luck!