Sound advice for the other side of the equation: how to manage a sovereign professional.
Before you hire a freelancer, be crystal clear on your needs,” advises Jon Youshaei of the comics site Every Vowel. “I always ask myself: Do I have a vision of what I want? If I don’t, I can’t effectively communicate it when giving feedback to a freelancer, and it’ll just end up wasting time and money.”
Vision is critical, but it’s also where a freelancer can add real value to the client … as long as the early stage relationship isn’t abused. How often does the sovereign professional feel their just being milked for free consultancy?
Read the full piece, here.
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I came across this and can relate to it. I’m sure many sovereign professionals can.
Freelancer Leif Pettersen looks at the pros and cons of our wonderful lifestyle:
- Do you have a saintly, bread-winning spouse to help fill income gaps?
- Are you free of dependents, expensive hobbies and vanity possessions, including pets larger than goldfish?
- Are you cool with handling most of if not all of your own accounting, project management and the godawful networking?
- Does your ability to manage anxiety equal that of a discount shark dentist?
- How long can you go between checks without completely unraveling, abandoning your gig and getting a job at the local pizza joint? More than six weeks?
If you answered yes to at least two of these five questions, I’m liking your chances.
Read the full article, here.
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The UK’s accounts had an unexpected monthly surplus in July – the first July surplus since 2002 – driven by unexpectedly large tax receipts from self-employed individuals (see The Telegraph, here).
Such news helps highlight the growing importance of self-employment and the Sovereign Professional.
Of course, because of the B2B nature of their work, many Sovereign Professionals will actually be employees of their own limited companies and related tax payments will not form part of these figures.
Photo by Lauren Mancke on Unsplash
Here’s a great overview of the Gig Economy, from Due.com. It’s US-centric, but the findings are transferable. UK readers will just need to translate the tax and pension information.
Many Americans are saying goodbye to the traditional 9-5 lifestyle in favor of a much more flexible schedule that works around what they need. In 2016, nearly 53 million Americans were freelancers, that’s 34% of the workforce!
Much of the recent press in the UK has centred on the negative aspects, particularly of large “employers” possibly bending the rules to define workers as self-employed to reduce the employers’ cost base.
We shouldn’t ignore the very real benefits that the growth of freelancing brings for willing workers and for the economy as a whole.
Well worth a read.
Image credit: https://unsplash.com/@alejandroescamilla