Building a company based on what you can afford to do right now is a lot easier if you can bring in a little extra cash here and there. And since you’ve clearly got some serious skills if you’re bootstrapping a startup, freelancing can seem like an obvious option. After all, you can take on projects just when you need the money and focus on your company the rest of the time.
Running Two Businesses at Once
There is a problem that newer freelancers often run into, however — and it’s a big one if you’re also building a startup. Freelancing is a type of business. You may be able to do it on the side, but you need to market, do taxes and otherwise make sure that you’re operating your freelance business correctly. For some people, running two businesses at once is just too much.
If you’re starting out freelancing from scratch after you’ve already created your startup, you may be facing some significant stress. It’s not impossible, but if you don’t have a good source of freelance work, you’ll have to invest some serious time in finding it. You’ll need to set some ground rules to make sure your freelancing doesn’t cannibalize resources from your startup.
Balancing Every Part of Your Life
There are people who can do everything, including managing a startup, freelancing and even raising a family at the same time. The secret seems to be building a routine, rather than just doing what seems to be next. If you can consistently work on freelance projects every day, you can guarantee that you’ve got a steady influx of cash for your company. Similarly, a set schedule means that you’ll make steady progress on your company and everything else you’re committed to.
But remember, you’ve got to find an approach that works for you and your obligations. No two companies are the same, nor are any two freelance career. You’re going to need to use some trial and error experimenting to find the right approach — and in some cases, that may mean that you aren’t fitting in freelancing at all.
Image by Flickr user Dave Cowley
