You're In The Money! What's Next For Your Freelance Venture?

When you’re a freelancer, a lot of your time can be spent worrying about where your next pay cheque is coming from. Living from invoice to invoice becomes a way of life, and you’re used to not having a steady income.
So what happens when things are actually on the up? When your freelance work is booming, it can become easier to see a future in what you do. When weeks of steady work turns to months, you can start making some plans and taking your venture to the next step.
Are you ready to take things to the next level? Here are some ideas to help you expand your freelance venture.

Get an office

If you’ve been working from your kitchen or your bedroom until this point, you might want to think about investing in an office. Not only will this help you feel like a more legitimate business, but you’ll actually have a space to meet some clients face to face – no more coffee shops for you!
A search for commercial properties will show you the possibilities that are out there – you might find there are some fantastic properties within your price range! If you’re serious about turning your venture into a career, your own office could be the next logical step forward.

Hire some help

Now that you’ve got money coming in, you might want to consider getting some extra hands to help you by either taking on some of your projects or getting someone to manage your accounts, administration, etc. You might even be able to reclaim some of that work/life balance you’ve been struggling with since getting started.
The problem with being a lone freelancer is that you want to handle most things yourself, but sometimes you just need to let go. Hiring another freelancer to take on some of your work means you can take vacations or sick days and still make money. This will free you up to take on new and exciting projects and give you the time to drum up new business.

Invest your money

With money coming in, now would be a good time to think about investing. Whether you choose to invest in property or stocks and shares, there are different avenues you can consider to invest your cash. Remember that your freelance career might not always be this profitable, and there may be times when you’ll need to fall back on your savings. A rainy day fund is never a bad thing to have, so try and be sensible with your money.
As a freelancer, you’ll have good times and bad times. The things that you do during the good times will help to make the bad times easier to manage, easing any financial concerns that you might have.
If things are tough now, persevere – you never know when things might start looking up. Remember, if it does all go down the drain, you can always pick yourself up and try something else – at least you can say you tried!