Read on Twitter
Given the current situation, I am sure there are many coaches & sports scientists who are considering consultancy/freelancing.
3 years ago I realised that I wanted to have more control when it came to being able to pay my bills. Below are my lessons for being self-employed -
3 years ago I realised that I wanted to have more control when it came to being able to pay my bills. Below are my lessons for being self-employed -
1) 3-6 months money in the bank
This is a bit of advice given out by many who have made the jump from full-time employment, however, I am unsure how many people actually heed the advice. I wouldn't have left employment if I didn't have this buffer and I am glad I did
This is a bit of advice given out by many who have made the jump from full-time employment, however, I am unsure how many people actually heed the advice. I wouldn't have left employment if I didn't have this buffer and I am glad I did
2) Clear objectives & goals
This is vital in any role but especially when you're self-employed. You are being brought in to achieve a specific goal so setting these objectives early
chances of being treated as an employee. Anything over and above needs further remuneration
This is vital in any role but especially when you're self-employed. You are being brought in to achieve a specific goal so setting these objectives early
chances of being treated as an employee. Anything over and above needs further remuneration
3) Build-in reviews at regular time points
This links to number two and allows you to refine the objectives and goals in case they have veered off course. It ensures clarity in why you are there and holds you and the client accountable
This links to number two and allows you to refine the objectives and goals in case they have veered off course. It ensures clarity in why you are there and holds you and the client accountable
4) Define work days & times as much as possible
Clients, like employers, can easily get sucked into thinking that they can contact you & expect action any time they want. If you are managing multiple contracts, not having clarity on this can lead to feeling massively overwhelmed
Clients, like employers, can easily get sucked into thinking that they can contact you & expect action any time they want. If you are managing multiple contracts, not having clarity on this can lead to feeling massively overwhelmed
5) Know when to bring an agreement to an end
This is potentially the most important. Not every business (or personal) relationship works out, and one advantage of being a consultant/freelancer is that you can have other irons in the fire to allow you to walk away
This is potentially the most important. Not every business (or personal) relationship works out, and one advantage of being a consultant/freelancer is that you can have other irons in the fire to allow you to walk away
6) Accept that there are lots of non-billable tasks
Invoices, expenses, accountant meetings, proposals etc etc etc are all non-billables that are essential when going self-employed. Depending on the business, expenses can be an absolute time drain so being organised is key
Invoices, expenses, accountant meetings, proposals etc etc etc are all non-billables that are essential when going self-employed. Depending on the business, expenses can be an absolute time drain so being organised is key
7) Stick to your fee
How ever you come to your daily/weekly/project rate, stick to it, if you don't you will begin to resent the work you reduced the rate on. And as per point 3, build in times where the work AND fee gets reviewed
How ever you come to your daily/weekly/project rate, stick to it, if you don't you will begin to resent the work you reduced the rate on. And as per point 3, build in times where the work AND fee gets reviewed
8) It's about the quality of the job, not how long it takes
This can't be the case in every instance as there still may be set times, however if the agreement is heavily outcome orientated, a switch in mindset is essential. Does the work done in 8 hours, 9-5 really take 8 hours?
This can't be the case in every instance as there still may be set times, however if the agreement is heavily outcome orientated, a switch in mindset is essential. Does the work done in 8 hours, 9-5 really take 8 hours?
