
38 Freelance Statistics to Know in 2021
Is becoming a freelancer the right career move for you? Below are the top freelance statistics and trends to know in 2021 to help you decide.
None of this is to scare you away from starting a home business—far from it! This is to remind you that it requires a different skill set than working in an office. So prepare to shift into a new mindset.
One major way to encourage self-discipline? Create a schedule and stick to it each and every day.
The great thing about being your own boss is that you’re not beholden to a 9-to-5 schedule (assuming your line of business allows for flexibility). Feel free to design a schedule that caters to your most productive times of the day, whether that means getting started at 6 AM or 3 PM.
Also, make sure to program plenty of breaks and be diligent about taking them. Breaking several times throughout the day will improve your productivity, focus, and energy in the long run. It will also help you avoid burnout.
There are many tools that can help you stay focused, like time-tracking apps such as Harvest, or management software. (Trello, Asana, and Monday.com are all popular options.) These tools can help you stay organized and make sure none of your tasks fall through the cracks.
If possible, set up your home office in a room with a door so you can shut out all those distractions. When the workday ends, you can truly leave your work in the office. If you don’t have a separate room available, carve out a dedicated space for your office that can accommodate all the tools and furniture you need to do your job. Ideally, this space has plenty of light and air circulation to keep you energized. Decorate your room to feel inviting, comfortable, and like a place you look forward to spending time in.
Just as setting up a functional home office promotes productivity, writing a business plan keeps your operations running smoothly. Your preliminary business plan should include at least the following components:
If you’re selling a product, you might also need a health and safety permit or a sales tax permit. It’s a good idea to consult a business attorney or accountant to help you navigate this step.
Fortunately, there are many accounting software options out there to help you streamline and automate your finances. QuickBooks, FreshBooks, and Xero are all approachable, affordable options for small business owners. Your software may also be able to identify and track any deductible expenses you can take advantage of, like a home office deduction.
Operating a small business without insurance puts everything you’ve worked so hard to build at risk. So purchasing a general liability policy is non-negotiable. It’ll cover many of the basic threats you may encounter throughout your operations, like unintentional third-party bodily injury, property damage, and personal and advertising injury to a third party.
Depending on your line of work, you may want to purchase professional liability insurance, which protects your business from third-party claims of professional errors and negligence. And as part of your home is now technically your office, you can also consider getting a separate commercial property policy. Your existing home insurance policy may not cover business property or risks.
Thimble caters to small business owners like you, so our policies are flexible and affordable—but the peace of mind you’ll get is priceless. The whole process takes less than a minute: Just click “Get a Quote” or download the Thimble app, answer three questions, and we’ll generate a quote instantly. You’ll be able to purchase your insurance on the spot and receive as many Certificates of Insurance (COI) as you need in your inbox.
Starting your own business is a huge step, but starting a business from home comes with a unique set of challenges and opportunities. These tips can help you overcome those challenges and make the most of the opportunities:
By following these seven tips, you’ll set up yourself and your home business for long-term success.
Our editorial content is intended for informational purposes only and is not written by a licensed insurance agent. Terms and conditions for rate and coverage may vary by class of business and state.
Is becoming a freelancer the right career move for you? Below are the top freelance statistics and trends to know in 2021 to help you decide.
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