Updated: October 4, 2020
A friend quit her job five years ago and decided to become a freelance social media manager. She approached several restaurants in her city and began handling their Facebook and Instagram accounts.
Today, she has her own digital marketing business with eight social media managers working under her wing. My friend is a true success story of a freelancer who was able to grow their freelancing career into a successful business.
If you’re a local freelancer hoping to likewise become an entrepreneur, then what are the things you need to do? Below are four essential tips that she advises.
Tip #1: Make yourself legal.
A lot of freelancers earn within the informal economy. Reasons vary, but usually, it’s because they’re too busy working. So consequently, becoming registered as a professional or business takes a backseat in the list of priorities.
It may be okay at first, especially if you’re just establishing your freelancing career.
But if you want to accelerate your growth as a business, you have to make it a top priority to become a legal entity – either as a registered professional or as a sole proprietor business.
Because doing so will open up a lot of opportunities for you, such as getting bigger clients, who normally don’t deal with unregistered freelancers.
If you need help in your business registration, then you should check out and visit Taxumo.com. They’re a Filipino company, which helps self-employed individuals and professionals with their business registration and BIR tax compliance.
Tip #2: Automate, simplify, and delegate.
Freelancers are also known for doing everything – from sales and marketing to client servicing and accounting.
It’s good to know how to do those tasks, but if you want to make more money, then you need to start doing less administrative tasks, and more business development.
This is when you should learn to automate tasks that can be done by apps or software. Study your workflow and find ways to simplify how you do things.
For example, instead of going out and using much time and energy in paying taxes at the bank or filing them at the BIR office, you can instead use Taxumo.com. Through their website, you can conveniently pay your taxes online, fast, and easy.
Lastly, don’t be afraid to delegate or outsource some of your work, especially the mechanical tasks. Make your first hire as soon as you can afford it, so you can start duplicating yourself and scale up your business activities.
Tip #3: Explore new opportunities.
You’re no longer limited to clients who are willing to work with freelancers who don’t issue Official Receipts. As a legal entity, you can now approach big local companies and offer your services to them.
Moreover, you can work with or collaborate with other businesses in your industry to fulfill large-scale and long-term projects for multinational and corporate clients.
Not only will you earn more, but you’ll also have the opportunity to learn from your peers, and likewise expand your business network.
Tip #4: Develop new sources of income.
As your business grows, you’ll eventually discover new opportunities, which can enhance or complement your current products or services.
For example, when you’re managing the Facebook Page of a client, it’s common for them to also ask help in managing their ads or handling their online customer service. These are opportunities that you can explore and further develop as a new offering to your clients.
This is also one of the reasons why it’s important to always find things that you can automate, simplify, and delegate within your business.
Because as a business owner, your time and energy are better spent on research and development, instead of running the day-to-day operations.
Like my friend, I also quit the corporate world to become a freelancer, which eventually led me to become an entrepreneur.
I wouldn’t say the journey was easy. It was in fact, full of challenges and obstacles. But that’s what makes it worth it.
And now, it’s your turn.
Jumping from employment to freelancing is just the beginning. And it’s time for you to take another leap, this time towards entrepreneurship.
Disclosure: This article is done in partnership with Taxumo. Visit Taxumo.com and input the code OPENTAXUMO during sign up to get Php 100 off on your first tax filing.