Upsizing – Moving On From Freelancing
Neil Bromage has run his own small business and is a freelance business writer working on a range of newspapers including The Times, Sunday Times, Telegraph and Financial Mail on Sunday. This book is based on a wide range of columns and Q&As written and answered by Neil for Business Link over a number of years. He is based near Preston, Lancs.
Being a freelancer can be quite isolating – mainly because that’s exactly what most freelancers choose. It’s a little like swimming without getting your hair wet – you’re never fully immersed in the environment. When the decision is taken to upsize and begin to really build, rather then maintain, your business, it becomes necessary to totally submerge yourself.
One of the first considerations is whether there is sufficient work. Can you see other opportunities where contracts can be acquired? Is there potential for creating strategic alliances with someone in an allied field in order to spin off each other? Or will a marketing campaign bring in new work? Ultimately, if there isn’t more work you can’t expand.
Your workspace will need serious review. Can you continue at home – that’s where most freelancers work – or is there a need to move into new premises, buy more equipment and take on staff? All of this costs more than is often thought and you need to know how it will be financed.
You will undoubtedly need the support of a good banker, and not just in financial terms. This needs to be someone you can really talk to and get advice from. Try to be discerning here, talk to a few managers before deciding who you think you can get on with, remembering that all business is about relationships.