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Is Starting a Freelance Company is Good Business?

Thread title: Is Starting a Freelance Company is Good Business?
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09-30-2010, 01:31 PM
#1
N3gATiVE is offline N3gATiVE
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  Old  Is Starting a Freelance Company is Good Business?

Hello!

I'm doing Graphics Design/Multimedia freelancing from last 2 years at sites elance.com & guru.com
i always take it as a part time job... i'm doing it from home! but from last few months i'm earning more then from my full time job!
So i thinking to leave my full time job & make my freelancing as full time!
my more then clients giving their all projects to me but i need to say them No! bcoz i can only complete 4-5 projects per day! i want to take all projects i have getting so i can earn more..~

So yesterday i thought if i should start a freelance company & hire people, give them salary then i can earn more

if somebody doing any business like this then please suggest is it good profitable business ??? for life & feature

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10-01-2010, 01:05 PM
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mohitindia is offline mohitindia
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Starting a freelancing company is a Good on,but i think it s bit difficult to maintain those,so you need a fair amount of people to work on.Initially its a difficult job but if it get set its gonna be a gold mine as you have a good amount of experiences.but just beware of fraud customer who wont pay payments or who are fraud.Have entire documentation of those stuff. As soon as you started the work you just mail your existing clients to which you have worked with.And those people would be back in your accounts.
Best Luck

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10-01-2010, 01:30 PM
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Lowengard is offline Lowengard
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N3gATiVE

It's a nice idea, isn't it? You've got so much business already that it seems logical to just shift over to all freelance. Unfortunately, it's not always so simple.

First, when you say you're making more money freelancing than you earn from your full-time job, are you adding back in the social benefits paid for you? If your place of employment covers or collects for health insurance, a pension, taxes, etc., then you need to make sure you've added those sums back into your equation. In the US, this may add as much as 40% to your "true" compensation. Ditto if your employer pays for your vacation time or job-related education.

I've been working as a consultant to micro-businesses and independent business owners for about 15 years, and I've been teaching courses in the basics for at least 5. I see many many people who open their own shop because they have so much freelance work, only to find that the initial momentum dies in 18 or 24 months. I don't have the current statistics at hand but in the US some enormous percentage (it could be 70%) of all small businesses don't make it to the 4th year.

Which doesn't mean if you open a business of your own you won't be successful. But if you need what you earn in order to live then you owe it to yourself to plan, and to plan well.

Here's a link to a recent article on the topic. Phyllis Korkki, "Taking the Leap to Self-Employment New York Times Published: June 19, 2010 http://www.nytimes.com/2010/06/20/jo...rkki&st=Search

10-27-2010, 10:15 AM
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samuel5028 is offline samuel5028
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Free lancing business is good option but we can earn money only for short period of time. If you have a company, then you will get good revenue as well your company name will go to next level.

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10-27-2010, 02:30 PM
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PaulSmith1 is offline PaulSmith1
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Yes, it is good at some extent, but you have to work hard, getting the work is the main factors, some times fear of not being paid as well.

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11-05-2010, 12:50 AM
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Freelancing is great, but you do have to work at it. The biggest disadvantage is that as soon as you stop working, no more money comes in; only bills. If I could do it again I would've worked on developing a web application/service and do freelance on the side as I work towards building a sustainable business.

$0.02

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11-11-2010, 07:23 PM
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energizedit is offline energizedit
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Lowengard make svery good points. You really want to look at more than just gross sales of your projects. You need to consider all of the overhead your current employer pays to keep you employed and factor that in before you make the leap to self employment.

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11-14-2010, 06:11 AM
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SA Chaff is offline SA Chaff
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hey do u have aim? skype? or anything i can contact you on N3gATiVE

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11-15-2010, 10:40 PM
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esterm2010 is offline esterm2010
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Why don't you make some simpler services and get them listed?
Go to some marketplace where you can put your gigs listing ad start harvesting money
I tried fiverr, I list any gigs for the price $5. For much bigger result on earning I go to jobsfor10 and get my $5 - $20 each gig.

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12-03-2010, 02:13 AM
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Libby is offline Libby
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Sounds like a tough choice, really. Maybe you should keep your job and hire some people to take care of your freelance opportunities and see how you like having employees first.

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