Now What

You have taken the plunge into free lancer world.  Not what does that mean?  You no longer have a boss or 8 to 5 position.  You are your own boss.  It can be very scary, when you think about it.  Let me give you a few pointers.  Do not do what I did, in terms of early mistakes.

Now that you are a business.  You must think and act like a business.  That means, you will need to hire a couple of professions.  At least that would be my recommendation.  There are plenty of resources on the internet with regards to D. I. Y. , do it yourself.  I would not go that route, but it is up to you.

First thing that I would recommend is to hire a certified public accountant or C.P.A.  An C.P.A. can help you establish your type of business?  Is it a limited liability corporation or L.L.C?  Is it a sole entrepreneur. Is it a corporation?  C.P.A. can provide you with all the different types of ways to incorporate your business, and should be able to provide or file all the necessary paperwork.  You will need this paperwork to open a business bank account. Yes, you will need a business bank account.  This will keep all your business and personal affairs separate.

Next thing that I would recommend is to hire an attorney.  An attorney can help you with contract language.  You will need to forward a contract for all services rendered to protect you and your future client.  I would recommend giving your attorney about a thousand dollars as a retainer.  Just in case, you need to have an attorney with regards to your business.  Find you a good business or contract attorney, you might need to send someone an attorney collection letter.  You might receive an attorney collection letter, and need to respond.  If you have a retainer and relationship, then it is always good to not have to find an attorney at the last minute.

Find you a good insurance agent.  You will need to have your business property insured.  You will need to have liability insurance.  This is just in case, you need to file a claim. Maybe something did not go as plan with a project.  Maybe your work equipment was taken or stolen.  These resources are invaluable.

Image courtesy of Leo Wieling.