Freelancing tends to be associated with experienced professionals. People who have worked in an industry for many years before starting their own businesses. Younger, less experienced individuals tend to seek employed work straight out of college or university rather than risking their careers on freelancing. 

Schools and universities often overlook freelancing as a viable career option. While an employed role provides greater stability, freelancing offers freedom and flexibility. It is perfectly possible for graduates with little to no experience to build their own business and make a success of it.

Is freelancing right for you?

If you’re reading this article, chances are you’ve already asked yourself this question. To answer it accurately, it’s important to weigh out the positives and negatives of freelancing.

One of the greatest appeals of freelancing is that you are your own boss. You are always in control of your business and can therefore set your own rates and hours. As a freelancer, you are entirely independent and are free to work on projects you feel passionate about. 

On the flip side, being your own boss can be tough, especially when you don’t have much experience. Trying to earn an income while learning the ropes is challenging. If you are passionate and driven however, it’s possible for freelancers to earn sustainable incomes.   

Find your niche

As a graduate freelancer, it’s likely that you’ll start right at the bottom. You might have a degree in a relevant subject but you might not have the right training. For example, freelance editors and journalists often do additional training to gain accreditation.

When you start out, regardless of your industry, you may have to take on a variety of projects simply to gain experience and pay the bills. While a broad skillset is useful, you will be up against a greater range of competitors.

Finding a niche early on will help you narrow down your field enough to cut out some of the competition while maintaining enough clients to keep you busy. It will also enable you to be selective and focus your energy on projects you feel passionate about.

Set reasonable rates

Freelancing rates vary depending on industry and experience. They may also be different if you’re working for individuals versus working for a company. For the former, you can set your own rate but for the latter, you may have to work for a set project fee. As you are your own boss however, you can choose which projects you want to take.

When setting your rates, it’s important to know what other freelancers with a similar amount of experience are charging. Charge too much and people will feel like they’re being scammed, charge too little and you’ll come across as inexperienced.

As a new freelancer, you may earn a huge salary but as you gain experience, you’ll be able to raise your rates accordingly.