10 foolproof tips for the self-employed professional

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Being a freelancer means starting your own business, being your own boss, having flexible hours and more freedom and autonomy. But it also means more responsibilities, more economic instability and having to deal with a lot of bureaucracy.

To help you better manage your business and undertake in a more organized and objective way, we have put together 10 foolproof tips for self-employed professionals. Check it out!

10 foolproof tips for the self-employed professional
1) Get out of limbo
When you are a freelancer, you are not employed by anyone, but you are kuwait phone number lead not a company either. And this can cause a lot of confusion, so the tip is: get out of limbo! At least until you start behaving like an entrepreneurial manager. You have to master, in addition to the technical aspects of your profession, the basics of management: communication, finance and sales. The sooner you realize this, the better.

2) Understand the minimum about accounting
The alphabet soup of CNAE, Tax Regime, Thousand Taxes, etc. are essential for your financial health. Remember that the tax rate varies according to the accumulated revenue of the last 12 months (and not of the last year, as everyone thinks). It is like this: from Feb/2021 to Jan/2022. And the tax is due, normally, until the 20th of the following month. In other words, get used to setting aside money to pay the following month's tax.

3) Create a work routine
Not having a boss doesn’t mean you don’t have any more responsibilities and demands. You don’t have to keep up an 8-hour/day routine, but you do need to create a work routine that works for you.

4) Find a suitable space
Even if you work from home, remember your fiscal address . If you live in a rented residence or do not want to make your address public for general access, you can hire a fiscal address service to use in your company documents, such as the MEI certificate.


5) Set aside an emergency fund
Unforeseen events and crises are the only certainties in the business world. They are impossible to avoid, but you can prepare for them by creating an emergency fund. Ideally, you should have a personal fund and one for your business, so you don’t have to choose if you have more than one unforeseen event at a time.

6) Diversify your client portfolio
It is your client base that guarantees stability when you are a self-employed professional. The more diverse and broad your clientele, the greater the chances of you having a regular income from your business. It is also important to maintain good contact with them, to get other clients through referrals .

7) Create service packages or product kits and take advantage of what you know how to do well to generate cash
Know how to sell yourself. If you are already good at something, create service packages or product kits to offer to your clients, taking advantage of what you already do well, your experience and potential clients you have already served to make your business work.


8) Study your pricing carefully
There's a good chance you've fallen into the Pareto rule: 80% of your business's revenue comes from 20% of the products/services you sell. If you don't have the numbers at hand, you're leaving money on the table. As a freelancer, a very common mistake is to charge less than you should, reducing your profit margin. Research your competitors' prices and set a price that's in line with the market.

9) Study your market, analyze the business environment and look for collaboration alternatives – even with competitors
If you don't study the market and the business environment , your chances of having a successful venture decrease. External factors can influence your business as much as internal factors, so it is very important to keep an eye on changes and look for collaborations that can strengthen you when necessary, even with competitors.

10) Use the tools for entrepreneurs that we have carefully developed so that you can undertake with more security and less ego trip
Every self-employed professional who passes through our entrepreneurs' club, the 55 Club , uses a set of tools to develop the entire basis of the business, organize the finances, analyze the business environment, among many other essential tasks to create a successful enterprise.

We provide all these tools free of charge for those who want to organize themselves to earn more and make their business grow, but don't know how.