If you’re anything like Kayley Reed, freelancing might be the perfect job for you. The full-time freelancer burned out while building a company and lasted just three months working for someone else.
“Now, I make double what I did in my ‘stable’ job, make my own hours, and get to work from home with my cat,” she said.
Here’s how she did it, and what you can learn from her experience.
Consider leaving your full-time job behind
Reed had more career options than your average philosophy major. While attending the University of New Brunswick, she considered becoming a lawyer. Instead, she opted to follow her passion into the fashion industry.
The Alberta, Canada, native started a clothing line that highlighted the stigmas of mental health. The idea was accepted into a business accelerator program and funded. It forced her to put her head down for three years of hard work.
When she came up for air, she realized she was out of breath.
Reed switched directions. She took a full-time sales job at an education technology company, where she was paid $2,500 a month plus generous commissions to perform the same tasks over and over for eight, nine, and 10 hours a day.
“I was spending so much of my time doing something that I was unhappy doing,” she said. She grew tired of filling in Microsoft Excel spreadsheets, writing cold emails, and dialing colder phone numbers. “In my head, [leaving] was worth it, even if I was going to take a pay cut.”
Overcome the anxiety of going out on your own
Nowadays, Reed calls herself a full-time creative consultant, podcaster, and influencer.
“Basically, a mishmash of things that I never knew could legitimately be a full-time career — until I was doing it,” she said. “Nobody teaches you that freelancing is a real thing.”
Reed took a leap of faith, but she also prepared a safe landing. After quitting her sales job, she moved back in with her parents and cut back on her spending.
“There’s a lot of anxiety that comes with giving up a stable paycheck,” she said. “And there’s a lot of shame and guilt associated with living with your parents when you’re in your mid-20s … but, financially, it makes a lot of sense.”
Having a savings account and a supportive mom and dad helped Reed. She recommended you build your own safety net. If you have student loans or other debt weighing you down, your net should have extra padding.
“Also, I think it’s totally fine to start freelancing on the side of [your] main job and see if it’s a fit before [diving] into it,” Reed said.
Make use of your existing skills
Reed knew her full-time sales job wouldn’t last long when she caught herself thinking about the digital and social media marketing tactics she’d learned as a startup founder. That’s also when she realized her startup skills could flourish in a freelance role.
If you’re considering the freelancing route, ask yourself what you bring to the table. If you’re a web developer able to build custom websites, you already have your answer.
If you’re a philosophy major, your answer might be more complicated, but keep looking. You might take advantage of your writing skills, for example, to earn work as a content creator.
Tap into your network (or start building one)
To her chagrin, Reed spent the first month of her freelancing career making sales again. Her most active hours were spent scouring Craigslist posts and Facebook group threads for freelance copywriting, social media management, and marketing roles.
At the six-week mark, after gaining her first clients the hard way, Reed began telling her old contacts that she was available for work. The floodgates opened.
“I wish I would have told people in my network sooner,” she said. “It’s way easier to get clients you already know, who trust you, than cold-emailing people on Craigslist.”
If you have few connections, consider a workaround like Reed’s. She started the Self-Care Sunday podcast as a passion project, but it also doubles as a tool for self-advertising and connecting with fellow female entrepreneurs.
Find a niche in your specialty
You don’t have to look too far on LinkedIn or freelancing websites such as Upwork to realize that, as Reed said, “There [are] a million social media consultants.”
“What I was trying to provide people with was really vague, and it was hard to get clients that way,” she added. “So I really niched down.”
To separate herself from the pack, Reed has jumped into what she calls influencer marketing. To help drive sales for businesses, she connects corporate clients — from pet food companies to skin care brands — with social media influencers. An influencer could be anyone with 50,000 or more followers. She also works with microinfluencers, users with between 1,000 and 50,000 followers.
One of Reed’s brands might send free products or a paycheck to a microinfluencer, for example, in exchange for praise online. Then it’s Reed’s job to catalog the influencer’s content and use analytics to show whether her client earned sales as a result.
Find and impress your first client
Whether you attempt to freelance full time or on a trial basis, your first client will be the most important one, Reed said.
“If you can provide great results for that client and get some sort of testimonial or create a case study … that’s all you really need to get multiple opportunities and multiple clients,” she said.
Reed, for example, would create presentations about what she accomplished for past clients in hopes of luring new ones. It’s been a convincing tool during pitch meetings.
With about nine steady clients and a network of about 160 influencers, Reed’s well on her way.
Her final tip is to think about what you value most — time, money, or something else — and how you want to spend your average day. That’ll help shape your unique and, hopefully, fruitful freelance career.
For a next step, you might consider how freelancers manage their finances.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 7.89% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.97% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at firstname.lastname@example.org, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.24% – 7.24%3||Undergrad & Graduate|
|2.47% – 6.97%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.69% – 7.21%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|