Turning Your Side-Hustle Into An Office Business: What Do Former Freelancers Need To Consider?
Introduction to Building an Office Business
Those running aspirational office businesses often have humble origins. They sometimes begin their operations as freelancers with a side-hustle, testing the waters before committing fully to their respective enterprises.
This lifestyle is becoming more appealing, too. After all, the freelance workforce is always increasing, and side-hustles soon evolve into fully-fledged firms of potentially epic proportions.
As you might expect, these changes do not occur overnight. Instead, they gradually materialize over a prolonged period, not to mention a lifetime’s supply of dedication and hard work.
If you have been running a side-hustle freelance business from home, then no doubt elements of your professional life have blended with the personal. You may need to anticipate changes in this regard, too, so preparing for those developments is advisable.
If you are now a former freelancer on the precipice of great change in your company, you may be wondering what types of things you need to keep in mind when overseeing the evolution of your venture. Read on for some of our tips.
Greater Client Care
You may have had some clients when working as a freelancer. However, your interactions may have been quite limited, confined to concise emails detailing work briefs and expectations.
If you are to establish a thriving office business, this working relationship level will simply not suffice. Strong client relations mature the company you are trying to run. Increasing networking capabilities, building publicity, fielding work recommendations – it all starts here.
Try to evolve your business persona. Have a way of addressing clients that build your likeability and authority, winning you respect. Build your charisma. Working remotely as a freelancer has its perks, but it may have eroded or minimized your professional social skills detrimentally.
You can attend icebreaker sessions, networking events, or careers fairs in your community to improve these skills some more.
Freelancers often have a mindset of working only for themselves, even with clients in their books. However, dedicated office businesses have great pride in their business and move mountains to foster positive working relationships.
An attitude adjustment may be necessary, so try to be open to that.
Insurance Needs
As businesses grow, they take on more responsibilities. Many of these duties need to be covered with insurance costs.
You will need coverage for things like hiring workers and maintaining business premises in general. Other policies will be sector-specific and mandatory, such as if you are working with food. Try to do some research as you can budget for these essential costs.
There is a potential for wrong turns here, given that many insurance providers are out there offering various deals. You may be able to get good use out of an efficient insurance package.
If you get a reliable bop policy, you will see a good example of this. It stands for Business Owner’s Policy and combines general liability with commercial property insurance. The deal is usually cheaper than buying both separately.
Be savvy when on the hunt for quality premiums. For other coverage, gather a list of the most reputable providers for each and compare their quotes. Read the reviews of other people who have signed up and contrast their impressions.
A lot of money can be saved here if you are prepared to shop around extensively in your search.
Self-Taught Limitations
Many freelancers consider themselves fully independent workers. They will make grand proclamations of teaching themselves the ropes of their respective industries.
However, such claims are often misleading, conflating the truth to seem a more diligent self-starter. Moreover, these assertions are nothing to be impressed by either.
Professionals who have taught themselves everything they know are bound to have serious skills limitations, which makes them an inferior contenders when vying for work in their sector.
As a freelancer, you may be able to get away with teaching yourself the odd thing or two. However, leaders of an office business require more finesse and expertise in all their dealings.
Whether they have been active in their industry for thirty years or thirty days, they are constant learners. The rules are always the same.
Turning your side-hustle into an office business is one thing, but the learning and company evolution process never stops.
You would no doubt benefit from an online course as many others have, equipping you with many of the logistical skills you need to run and sustain an enterprise long-term. Do some research and sample ones you are intrigued by, and you can keep improving what you do.
Optimizing Productivity
People with side-hustles often treat their work as something ‘extra’ in their lives. Some freelancers may only devote two or three hours to their goals, too, having other personal and professional matters to tend to.
As these endeavors transform into office businesses, this approach to work is no longer possible. Entrepreneurs must devote more time to their enterprises.
Still, in these situations, many businesspeople extend their hours to an excessive degree, overworking themselves to the detriment of their physical and mental well-being.
Balance is required here to optimize your workflow. Sentiments of quality over quantity apply here. Utilizing automation technology will ensure you are not overwhelmed by numerous administrative tasks and instead focus on big picture thinking.
As you commute to your new office business, spend that time productively and do some work on any public transport you use. Schedule your time well.
Value of Work
Freelancers and side-hustle enthusiasts often grab onto any work opportunity they can find. Each offering is a chance to earn some extra money and give their skills some additional shine.
However, office businesses must be much more selective with the types of work they accept. Each job needs to bring in a suitable amount of money to sustain a business and run the premises.
This means that many of your projects as a side-hustler and freelancer may no longer be viable for the enterprise you are attempting to build.
It is not easy to say no to certain clients and customers, particularly if they were with you over a longer period. Still, in specific situations, it is undoubtedly necessary to increase the effectiveness of your firm.
Manage your time carefully and devote yourself to worthy causes only.
Flat out refusals may not be required in every situation. You could attempt to negotiate with any of your original clients and customers, upscaling your arrangements to your mutual benefit.
However, they may not all be on board with this, and in that case, you should be comfortable parting ways.
Communicating Change
Freelancers can grow accustomed to prioritizing their own needs, both personal and professional. This way of work can be isolating, and some recalibration may be needed if your decisions affect others around you.
Clients and customers should be tipped off about the upscaling of your company. A celebratory email could be sent out to your client list announcing any big developments. Give advanced notice so that they are suitably kept in the loop.
Make clear that clients know you are open to further questions, and invite them to contact you in that event.
If you are no longer freelancing from home, loved ones may assume that your home office is free to use or that they don’t need to be quiet as much.
It is a good idea to split your time between these work environments, so try not to let them assume that your office business gives them a free pass to run wild.
Overseeing these changes will be very demanding.
Though it is undoubtedly worth the effort, you should let your loved ones know what to expect when it comes to your availability. With their understanding early on, your personal relationships will be much less likely to come under any sort of strain.
Website Development
Because freelancers’ services can be quite singular and straightforward, the website you have to represent your activities may be somewhat rudimentary. Invest more time and resources into it as you develop your venture into an official business.
A more impressive physical premise still requires a strong online presence. Existing customers should be able to watch your firm transform to its next incarnation.
An SEO-optimized company blog that provides some broad commentary on the developments could build interest and help reinforce the idea that the freelancing side-hustle is now somewhat matured.
Feature photos of your office business on the website too. That way, visitors will soon understand that they are browsing a successful and efficient firm. It is good to be transparent with web visitors, as it can also build familiarity and trust.
An image can speak a thousand words, especially those used to represent your firm tastefully. If your office is in a desirable location with appealing views and decoration, it can make for an effective marketing tool in its own right.
Conclusion
Turning your side-hustle into an office business is not a straightforward process. While the discipline instilled from your freelancing will serve you well, you can expect the entirety of your working life to be redefined in the process.
Embrace those changes, keep communicating with the people around you, and ensure that you have all the necessary safeguards in check. After that, the transition should be much more manageable.
